Trade conflicts, prevented and late planting, and policy innovations have presented a difficult decision-making environment to farmers over the past several years. The decisions for this spring are now drastically complicated given the rapidly changing situation with the spread of COVID-19 and its attendant health threats and control measures. Currently, a paramount concern is continuing […]
The sharp price drops across equity and commodity markets over recent trading sessions indicate investors foresee a drop off in economic activity over the near term. Only the duration and severity of the economic contraction remain uncertain. A severe contraction extending into the summer does not bode well for agricultural commodity prices. Corn demand will […]
As attention shifts to the 2020 planting season, questions about U.S. acreage – and the potential for the more than 95 million acres of corn- will come into focus. On the one hand, 95 million would be a substantial increase over the 90 million acres planted in recent years. On the other hand, 95 million […]
Since 2017, the Environmental Protection Agency (EPA) has been generously granting exemptions to small refineries from the renewable fuels mandates on the transportation fuel industry established by Congress under the Renewable Fuels Standard (RFS). This has raised a set of concerns with EPA’s implementation of the RFS and the impacts of that implementation on the […]
Throughout much of agriculture’s history, farmers had to make decisions based only upon observation and recollection. Both sources are not precise, but it was the best evidence available. As scientific methods were introduced, farmers could employ research-based recommendations to improve production efficiency. Progress followed, even though the recommendations had to be general in nature (apply […]
USDA’s soybean ending stocks forecast of 425 million bushels for the marketing year may show little if any change in the upcoming WASDE report. Despite the recent strength in soybean crush, the current focus is squarely on the impacts of the coronavirus and the implications for both crush and exports as the disease continues to […]
On March 2, the latest USDA Grain Crushing report provides an estimate of corn used for ethanol production in January. In the February WASDE report, the USDA raised corn used for ethanol production by 50 million bushels, to 5.425 billion bushels, for the 2019-20 marketing year on a stronger pace of production in January. Since […]
With the prevented planting headaches of 2019, many noted that “Mother Nature bats last.” With the 2020 acreage debate coming into focus, it’s also worth remembering the winter wheat bats first. This week’s post reviews the USDA’s latest 2020 winter wheat acreage estimate and potential impact for corn and soybean acreage. Winter Wheat Earlier this year, the […]
Bloomberg writers Isis Almeida and Michael Hirtzer reported on Tuesday that, “China is back in the market for U.S. sorghum this week, signaling the world’s top food importer is willing to buy U.S. agricultural products only when they are cheaper. “Chinese buyers are bidding for U.S. supplies that are for shipment in April and May, according to […]
Speaking on Thursday at USDA’s Agricultural Outlook Forum in Arlington, Virginia, USDA Chief Economist Robert C. Johansson provided a broad outlook for U.S. agriculture. Today’s update provides an overview of key aspects of Dr. Johansson’s presentation. In his speech Thursday (transcript / slides), Dr. Johansson noted that, “Despite mixed signals heading into 2020, there has been important progress on the trade policy […]