December 23, 2020
Emily Cochrane reported on the front page of Tuesday’s New York Times that, “Congress on Monday night overwhelmingly approved a $900 billion stimulus package that would send billions of dollars to American households and businesses grappling with the economic and health toll of the pandemic. “Treasury Secretary Steven Mnuchin said hundreds of dollars in direct payments could begin reaching individual Americans […]
December 22, 2020
Last week, Bloomberg writers Isis Almeida, Samy Adghirni, and Tatiana Freitas reported that, “Brazil is close to an agreement that would allow the world’s second-largest corn exporter to boost sales of the grain to China, a move that could threaten the U.S.’s dominance, according to people familiar with the matter. “Talks between the governments of Brazil and […]
December 22, 2020
There is considerable interest in the likely magnitude of South American corn and soybean production in 2021, with much of the current focus on weather developments influencing yield prospects. The December USDA WASDE forecasts for Brazil corn and soybean production are 4.330 and 4.887 billion bushels, respectively. Argentina corn and soybean production projections currently sit at 1.968 […]
December 17, 2020
A news release Tuesday from the Center for Agricultural and Rural Development at Iowa State University and Iowa State University Extension and Outreach indicated that, “Favorable interest rates, a strong demand for land, and substantial government payments helped stabilize Iowa’s farmland market in a year in which Iowa’s farmers faced the destructive onslaught of a derecho, significant uncertainties in US agricultural trade, and a […]
December 17, 2020
The U.S. Grains Council, Growth Energy, the Renewable Fuels Association and the National Corn Growers Association issued the following statement in response to the Brazilian government’s decision to let the current tariff rate quota (TRQ) expire, replacing it with a 20 percent tariff on all imports of U.S. ethanol: “Brazil’s decision to impose a 20 percent […]
December 15, 2020
Last week, the USDA’s Economic Research Service (ERS) released its annual report exploring characteristics of U.S. farms: “America’s Diverse Family Farms: 2020 Edition.” Today’s update includes highlights from the report, which was written by Christine Whitt, Jessica E. Todd, and James M. MacDonald. The report noted that, “Family farms as a group, across type, accounted for 98 percent […]
December 15, 2020
Last week, in its monthly Grain: World Markets and Trade report, the USDA’s Foreign Agricultural Service (FAS) explained that, “Trade data for 2019/20 (October-September) are largely complete. Many countries imported record volumes of corn, despite initial concerns over a potential slowdown in feed use due to COVID-19. For 2020/21, global trade for major feed grains is forecast to grow significantly from […]
December 11, 2020
The U.S. animal protein sector is expected to face a 12% increase in feed costs in 2021, which will mark the highest year-over-year inflation since 2011. With corn futures above $4 per bushel and soybean meal futures around $350 per ton, cattle feeders, hog producers and chicken producers will pay higher prices for feed than […]
December 11, 2020
Agricultural producers should do tax planning before the end of the year. “It is that time of the year again to think about year-end tax planning,” says Ron Haugen, North Dakota State University Extension farm management specialist. “Having a snowless autumn should allow producers to stop doing some outside work and hit the books. “This […]
December 8, 2020
Wall Street Journal writer Lucy Craymer reported late last week that, “La Niña is shaking up agriculture in an already-tumultuous year for commodity markets. “The natural weather phenomenon, known as the cool sister of the better-known El Niño, occurs every few years. It is characterized by cooler-than-normal waters in the Pacific Ocean, causing dry weather in some parts of the […]
