Items Tagged with 'commodity markets'

USDA is raising its estimated average farm-gate price for the 2024 corn crop by 10 cents to $4.35 a bushel, while shaving the expected price for soybeans by 10 cents to $10.10 a bushel.

Farmer sentiment improved slightly in January as corn and soybean prices turned upward, according to the latest Purdue University-CME Group Ag Economy Barometer.

A possible relief package for farmers is in play as lawmakers return to Washington the first time since Donald Trump's sweeping victory, and Senate Republicans are set to elect a leader who will be critical to carrying out the president-elect's legislative agenda.

USDA continued to lower its price estimates for the 2023 harvest despite lower forecasts for U.S. and world supplies for some commodities.

The Congressional Budget Office is increasing its cost projections for farm bill programs due to lower estimates for some future market prices The commodities expected to see significantly higher payments over the next 10 years than previously estimated include cotton and dairy. 

The World Bank projects that agricultural commodity prices will drop 7% this year and likely fall again in 2024, providing some relief from global food inflation.

Farm input costs are likely to remain at elevated levels well after commodity prices come off their historic highs, and farm bill programs could provide only limited help, economists warned lawmakers Thursday.