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Balanced Reporting. Trusted Insights.
Thursday, June 08, 2023
USDA has cut its forecast for the value of U.S. ag exports in fiscal year 2023 to $181 billion, a $3.5 billion reduction from the agency’s February prediction of $184.5 billion.
Lawmakers are back on Capitol Hill today as congressional leaders and President Joe Biden look to nail down the votes to pass the agreement the White House reached with House Speaker Kevin McCarthy over the weekend.
Much larger corn crops in Argentina and the U.S. will be driving down global prices and spurring international trade in the 2023-24 marketing year, USDA said Friday.
U.S. Trade Representative Katherine Tai told lawmakers last week she is putting Chief Agriculture Negotiator Doug McKalip in charge of working with Brazil to end its tariff on U.S. ethanol and now McKalip is preparing to go to there as U.S. tensions remain high over the barrier preventing U.S. exports.
Drought is taking a higher-than-expected toll on Argentina’s corn and soybean farmers, according to the USDA, which cut production and export forecasts Wednesday for the South American country.
U.S. farmers are going to be producing and exporting a lot more grain and oilseeds for their respective 2023-24 marketing years, according to new forecasts released Thursday at USDA’s annual Agricultural Outlook Forum.
Deere and Co. said Friday its net income jumped 117% in the latest quarter compared to the same period a year earlier, and the farm equipment giant raised its earnings estimate for fiscal 2023.
