USDA on Thursday lowered expectations for both ag exports and imports in FY 2023. The export decline is linked to corn and wheat, while the import decline is correlated with easing prices.
“People sometimes refer to farmland as an investment in gold, plus a coupon,” Bruce Sherrick says. “You get a fairly low annual cash flow, fairly high long-term rates of return and tax advantages to the asset classes.”
Waters of the U.S. rules have evolved many times in the past 50 years. EPA announced another round of changes on Tuesday, following a May Supreme Court ruling that required EPA to revise the definition.
Nebraska, Minnesota and Iowa corn projections fall below USDA’s August estimates. Soybeans are on par in all scouted states, including Illinois, Indiana, Ohio and South Dakota.
Lack of moisture and high-heat days have Iowa locals concerned about cannibalized stalks, while Illinois considers impacts of wildfire smoke and overnight temps.
This time last year, more than 36% of South Dakota was covered in drought. This year, that number dropped to 14%. Dry conditions did improve in the east, but some fear early season dryness could play out in coming weeks.
As scouts made their way through eastern Nebraska, the state’s extreme-to-exceptional drought conditions (15%) were obvious in corn. Scouts on the eastern leg saw more of a mixed bag for corn, including disease.
