U.S. barley can now be exported to China following the approval of a phytosanitary protocol by both countries, a market development achievement years in the making finally accomplished with the boost of the U.S.-China Phase 1 deal signed in January. The notice on China’s customs website was posted on Thursday and confirmed to be approved […]
The most recent legislation enacted by Congress for relief during the Covid-19 pandemic has clarified that farmers are eligible for a low interest, non-forgivable loan of up to $150,000. Farmers and other agricultural businesses who apply for the loan can also qualify for an emergency advance in addition to the loan. The emergency advance is […]
Bloomberg writer Isis Almeida reported last week that, “There’s light at the end of the tunnel for the battered American ethanol market, according to producer Green Plains Inc. For now, coronavirus stay-at-home measures are keeping cars off the road, slashing demand for biofuels. But as economies reopen and people settle into post-pandemic life, they will likely avoid […]
Donnelle Eller reported on the front page of Sunday’s Des Moines Register that, “The coronavirus has caused an agricultural tsunami that’s ripped through Iowa and the nation. Markets have been disrupted as schools, restaurants and hotels have shuttered, and meatpacking plants are slowing or closing as about 10,500 workers — including 1,650 in Iowa — have tested positive for COVID-19. “Prices […]
COVID-19 has resulted in a dramatic decline in fed cattle prices putting a damper on net return prospects for 2020. In a farmdoc article published in early January (January 10, 2020), we were expecting net returns to average approximately $40 per head in the first quarter and approximately $10 per head in the second quarter of 2020. […]
Bloomberg News reported today that, “The top trade negotiators for China and the U.S. pledged to create favorable conditions for implementation of the bilateral trade deal and cooperate on the economy and public health. “China’s Vice Premier Liu He talked with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin by phone Friday Beijing time, according to a statement from China’s Ministry of Commerce. They also […]
Kevin Rector reported on the front page of Wednesday’s Los Angeles Times that, “In less time than it takes a farmer to plant and harvest a head of lettuce, the nation’s entire food industry has been flipped on its head by the COVID-19 pandemic. An intricate system for matching supply with demand, established over decades, has been thrown […]
For the second month in a row the Purdue University-CME Group Ag Economy Barometer dropped sharply, falling 25 points in April to a reading of 96. This marks the first time the barometer has fallen below 100 since October 2016, effectively wiping out all of the improvement in farmer sentiment that took place following the 2016 election. […]
Recent soybean price weakness reflects the new tariff threats against China that emerged as an option for retaliation against Chinese behavior regarding the coronavirus. A collapse of the phase one trade deal looks politically feasible this year. If the U.S. and China rekindle the trade war, lower export totals, growth in ending stocks, and limits […]
The impact of COVD-19 on cash prices for the 2019 through 2021 marketing years is estimated. These pre and post COVID-19 cash price projections, with revisions as warranted, will serve as a foundation to more formally access the damage done by the coronavirus on farm incomes in future articles. These price estimates will be useful […]