Agri-Pulse DriveTime Podcast

Financial and commodity markets were unsettled as the world counted down to President Trump's deadline for Iran to yield control of the Strait of Hormuz. China and Russia blocked a resolution at the United Nations to open the shipping channel. Weeks after Bridge Assistance funds have been sent to row crop producers. Specialty crop farmers are still waiting for their share of financial assistance. 

Thousands participated at the White House Egg Roll today. Emily Metz with the American Egg Board reports from the event. The Iran war is providing uncertainty for Fed Policymakers. The USDA's first weekly crop progress report indicates winter wheat condition is running behind a year ago. Brazil's soybean harvest is advancing with some corn acres challenged by dry weather. 

Emily Metz of the American Egg Board gives a preview of the White House Egg Roll on Monday and Atmospheric Scientist Eric Snodgrass outlines what could be a powerful weather anomaly during the U.S. crop growing season. 

Dry soil is a growing concern for a number of farmers approaching Spring planting. Two fertilizer producers want to keep countervailing duties on fertilizer imports. Gasoline prices continue to climb and egg prices are down significantly compared to a year ago. 

Agriculture Secretary Brooke Rollins, the Commerce Department and members of Congress are looking for a public action plan on how to stabilize fertilizer markets and reduce prices. Brazilian consultancy firm AgRual has cut its forecast for corn production and raised its outlook for soybeans. Crop analysts question if the USDA's planting survey accurately reflects farmer crop intentions resulting from the war with Iran. 

The USDA's Prospective Plantings report today showed more corn and fewer soybean acres than traders expected. Dan Basse with AgResource Company says the totals will change and crop prices will face pressure. Legislation has been introduced to provide incentives for plant-based products.