Items Tagged with 'soybeans'

The Biden administration is pouring $2.8 billion, far more than originally planned, into a series of pilot projects aimed at developing markets for climate-smart commodities in every state and across a wide range of commodities and farm types. Another $700 million for smaller projects will be awarded later.

The USDA Monday cut its forecast for U.S. soybean yields and production in its monthly crop report, catching the market by surprise and sending futures prices higher.

USDA’s Foreign Agricultural Service is still planning to resume publishing its weekly export sales report on Sept. 15, but that report will be much larger than normal because it will contain four weeks of data that haven’t been published because of problems installing a new reporting system, according to USDA officials.

The Agriculture Department is significantly increasing its farm earnings forecast for 2022, estimating that net cash farm income will reach its highest level in a decade due to the booming prices for crops and animal products.

The 2022-23 soybean marketing year starts officially on Thursday, and signs indicate exports will get off to a strong start. USDA data shows China is buying heavily, but marketing and education efforts by U.S. farm groups are paying off as demand is also growing in places like Egypt.

The USDA Tuesday raised its forecast for ag exports in fiscal year 2022 to $196 billion, but the department also predicted the value of overseas shipments will fall in FY 2023.

Scientists are reporting some major success in sharply boosting crop yields by engineering plants to be more efficient at photosynthesis - their process of turning light into food.

In a breakthrough for ag research, researchers have shown that soybeans can be transgenically altered to increase the efficiency of photosynthesis and significantly boost crop yields.

Environmental groups are pushing the California Air Resources Board to limit the usage of crop-based biofuels as it considers how to update, and perhaps accelerate, the goals of the state’s successful Low Carbon Fuel Standards program.