Baseline projections for 2024 from the Food and Agricultural Policy Research Institute (FAPRI) at the University of Missouri suggest downward pressure on prices could continue throughout 2024 and beyond.
A congressional hearing scheduled for Wednesday will delve into the perceived threat posed by China to the U.S. agriculture industry, particularly concerning the increasing foreign ownership of American farmland.
Members of the National Oilseed Processors Association (NOPA) crushed 186.2 million bu. of soybeans during February – by far the most ever for the month.
USDA has started using global exporters’ data to estimate China’s soybean imports because a wide gap emerged between shipping figures from producing nations and Chinese customs data, a USDA official told Reuters.
The U.S. Court of Appeals for the Tenth Circuit upheld a settlement agreement related to attorneys’ fees in a lawsuit concerning genetically modified (GMO) corn.
While there are factors mitigating inflation, such as the productivity boomlet and China’s deflationary impact, Malanga adds that recent data shows a rise in core PCE deflator and other inflation indicators.
