Agfax
Cotton News
After months of negotiations, the two countries struck a deal to lower the so-called “reciprocal tariffs” from a proposed 25% to 15%, and said increased rice shipments from the U.S. to Japan are part of the deal.
In addition to major tax provisions, the bill enhances the current safety net, providing $66 billion in new spending for farm programs.
That percentage doesn’t tell the complete story, however. While farmers in the West and southeast Texas have endured weeks of dry conditions that’s not been the case in the central Corn Belt where growing conditions have been excellent.
Shawn Hackett, Hackett Financial Advisors, says the June 30 reports have traditionally produced some fireworks, especially as they coincide with the end of the month and quarter which also triggers some portfolio re-balancing by the funds, but that didn’t happen Monday.
Matt Bennett, AgMarket.Net says, the corn market is breathing a sigh of relief as some whisper numbers on acreage were substantially larger than the March intentions.
Hear from the likes of AGCO, Claas, John Deere and others about what each farm equipment manufacturer is planning to invest in its U.S. manufacturing footprint.
It’s not just planting cotton farmers are battling this year. Soybeans are also struggling in the ground, and the corn is wind whipped or battered by hail and sand. With farmers staring at financial losses already this year, some worry this could push a growing number of them out of business.
Darren Frye, Water Street Solutions, says the grain markets saw risk off selling tied to President Trump’s threat of 50% tariffs on the EU on June 1.
Many farm organizations say the 68-page document released on Thursday is filled with “fear-based rather than science-based information about pesticides,” positioning that will sow seeds of distrust with the American public.
While most states anticipate a reduction in their total number of cotton acres, some exceptions exist. Farmers in Arizona, Virginia and Kansas are expected to plant more cotton than their respective 3-year averages.