Agriculture Policy News
From federal agencies to state governments, actions taken by elected officials and policymakers have a direct impact on America’s farmers and ranchers. Stay up-to-date on all things related to policy, including cabinet leadership, the farm bill, farmer-support programs, market access, environmental regulations, labor availability and the health of the ag economy.
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Latest Agriculture Policy News
Grains futures saw sharp losses on Wednesday on profit taking according to Rich Nelson with Allendale, Inc. However, there were several other factors at play.
Kevin Duling with KD Investors says the additional six cargoes of soybeans sold to China were part of the rumored business earlier in the week and have already been priced into the market.
EPA and the Army Corps of Engineers unveiled a revised rule on Monday aimed at clearer permitting and fewer regulatory surprises, such as narrowing which water features fall under federal oversight and confirming exclusions.
Brad Kooima with Kooima Kooima Varilek says the fear of Brazilian beef tariffs being lowered was part of the selloff in the cattle futures last week. However, Brazil tariffs are still at 66.4% so he says it was already priced into the market.
Arlan Suderman, chief commodities economist with StoneX says USDA only lowered national corn yield .7 bushels per acre to 186 which was a disappointment for the bulls.
The biggest surprise came from the agency cutting corn yield less than a bushel and loweing soybean exports by 50 million bushels.
Cattle market fundamentals remain unchanged while psychology shifts the market due to the President’s comments and industry interference.
Scott Varilek with Kooima Kooima Varilek says the funds continue to liquidate their long positions on the fear of the Mexican border reopening but lower fed cash is also a negative.
Don Roose with U.S. Commodities says corn and soybeans saw chart breakout with fund buying heading into the USDA report on expectations of lower yield but also watching for China buys in the daily export sales.
The grain markets fought off early weakness on Wednesday to close near the highs of the day and stage a strong technical close according to Bryan Doherty, Total Farm Marketing.