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Shining Light on Farm & Food Policy for 20 Years.
Friday, November 08, 2024
Dry weather has helped speed Midwestern and Southern farmers through most of this fall’s corn and soybean harvest while also limiting the amount of grain they could send down the Mississippi River. As many park their combines for the year, they are hoping rain storms can replenish soils parched and waterways shrunk by months of drought.
A new trade war with China could result in deep cuts to U.S. corn and soybean exports, according to a study commissioned by trade groups representing the two commodities.
The majority of Dustin Edwards’ annual fertilizer use consists of anhydrous ammonia. Edwards, who farms 5,500 acres in eastern Kansas, believes the $640 per ton it costs now is about double what the market should be.
The California Air Resources Board’s proposed restrictions on biofuel feedstocks, including a limit on soybean oil usage and new sustainability certification requirements, will ultimately backfire on the state’s consumers, according to industry groups.
The U.S. agricultural trade deficit is projected to grow to $42.5 billion in the fiscal year that starts Oct. 1, while sales to China extend their slump, providing fresh fuel to ongoing election-season debates about the future of trade policy.
U.S. animal food exports saw a significant increase in 2023 from the previous year both in volume and value, according to the American Feed Industry Association’s annual report on the state of the sector.
U.S. agricultural trade deficit will increase to $42.5 billion for fiscal 2025 as the fall in prices for corn, soybeans and other commodities lowers their value, USDA says.
USDA is projecting corn and soybean yields at record highs this year and has sharply raised its forecast for both soybean production and ending stocks, prompting another drop on the futures markets Monday.
