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Latest Agriculture Policy News
UPDATE: 03/02 4:23 pm-EST-There are reports a missile struck a vessel flying under the flag of Bangladesh in Ukraine.
As the Ukraine crisis continues to grab the world’s attention, President Biden’s State of the Union address declared the U.S. is in a better place than it was a year ago, while agriculture was left largely unmentioned.
Expect Russia’s invasion of Ukraine to dominate the State of the Union address tonight. As for issues affecting agriculture, there may be few details offered, says USDA Secretary Tom Vilsack.
Congress returns Monday, but to a very different situation due to Russia’s invasion of Ukraine, which is expected to be one of the key issues President Biden talks about during his State of the Union address.
Soybean exports in 2022 are likely to hit 2.15 billion bushels. USDA says the increase of 100 million is in part due to the current drought in South America.
The Biden administration laid a stake in MP Materials for their battery plans that will likely power future fleets of electric vehicles.
The top 10 export markets all saw gains in 2021, with six of the 10 (China, Mexico, Canada, South Korea, the Philippines and Colombia) setting new records.
In 2021, the first year the program was made available, producers enrolled 12.2 million acres of cover crops in PCCP, capturing a collective $59.5 million in premium subsidies.
Wiesemeyer says “you don’t spend some $300 million on these [soybean crushing] plants without a solid foundation of a market in the future.”
Dry conditions in South America continue to damage crop potential.