Agricultural shippers who use one of America's inland waterways to move grain, fertilizer, chemicals, and other products through the nation's midsection say they are ready for lock and dam project closures this summer.
The Department of Agriculture slightly raised 2020/21 beginning and ending corn stocks in the World Agricultural Supply and Demand Estimates (WASDE) report released Thursday, but traders showed little reaction.
Farm earnings are likely to fall sharply this year despite the $16 billion in COVID-19 assistance payments now being distributed, and farmers’ income is likely to drop again in 2021 without additional government aid, according to a widely followed forecast of the agricultural economy.
Top Democrat on the Senate Agriculture Committee, Michigan’s Debbie Stabenow, tells Agri-Pulse she’s monitoring the farm economy and USDA’s Coronavirus Food Assistance Program to see what additional help may be needed.
Agriculture Secretary Sonny Perdue is on the road again today to promote USDA’s $3 billion Farmers to Families Food Box program. Today, he’s in his home state of Georgia for an event delivering food at a non-profit in Atlanta.
Cattle, dairy and hog producers as well as corn and soybean growers are expected to collect the largest shares of USDA’s $16 billion in coronavirus relief payments, which are designed to compensate for losses in sales or market value between January and April.
Grain markets barely reacted to USDA’s World Agricultural Supply and Demand Estimates report released Tuesday as U.S. corn ending stocks for this marketing year are expected to grow but not as high as traders had expected.