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Balanced Reporting. Trusted Insights.
Sunday, February 28, 2021
Lawmakers have their focus on impeachment for now, but Democratic leaders are likely to try to pivot quickly over the next weeks as President-elect Joe Biden takes office. Climate policy as well as immigration and tax reform will be on the agenda for the Senate.
The Agriculture Department lowered its estimate of already tight ending stocks for soybeans as USDA increased its estimate of how much of the 2020 crop would be crushed.
The House has passed a new stopgap spending bill to keep the government funded through next week - and buy more time for negotiators to reach a deal on a new coronavirus relief package.
Americans are cutting back on Thanksgiving plans because of the COVID-19 pandemic. But the good news for consumers is that prices for the turkey and some of the trimmings will be lower.
A pair of reports from Department of Agriculture economists project a drop in American grain and oilseed production and overseas stocks on hand, prolonging a bump in commodity prices.
President-elect Joe Biden is moving forward with his transition with promises to move on his climate proposals that involve farmers in reducing greenhouse gas emissions. Over the weekend, the president-elect went live with a transition website - BuildBackBetter.com - that includes a summary of Biden’s top policy priorities, starting with getting COVID-19 under control.
Some big 2021 unknowns persist, including how COVID-19 will continue to disrupt markets and demand, whether government payments will continue to be robust and whether or not U.S. farmers can pivot to gathering more of their income from the marketplace.
China’s imports of U.S. agricultural commodities are rising steadily, but the pace is still well below where it needs to be for the Chinese to meet its first-year commitments under the “phase one” trade pact that went into force in February, according to data analyzed by Agri-Pulse.
China has been ramping up its corn and soybean purchases in recent weeks, but USDA's latest trade data show Chinese imports through July this year are still below 2018 levels and are far from the pace needed to meet goals set in the “phase one” trade pact.