USDA’s 97th annual Ag Outlook Forum kicks off this morning, and for the first time the meeting will be held online. USDA’s new chief economist, Seth Meyer will provide the department’s annual forecast for crop and livestock production this year.
Farmers are paying more for the phosphate fertilizer they need as foreign and domestic producers fight for public opinion on whether the U.S. government should punish imports of the valuable crop production input with duties.
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 recent boom in commodity prices is likely to continue through 2021 and into 2022, with supplies historically low worldwide at the same time Chinese demand for animal feed is growing and a worsening drought grips Brazil and Argentina, according to a top ag economist.