Pro Farmer Analysis
Russia, the world’s largest wheat exporter, will change its formula for calculating grain and sunflower oil export taxes to support shipments amid a strong ruble currency, Reuters reported.
EPA will release its proposed rule on the 2023 volume standards for biofuel under the Renewable Fuel Standard (RFS) in September. . .
China’s soymeal inventories have tripled over the past three months as large volumes of soybeans arrived in the country and feed demand is weak.
The U.S. government filed a brief to the Supreme Court supporting the National Pork Producers Council (NPPC) and Farm Bureau challenge to California’s animal housing law. . .
In the midst of a crop tour of Brazil’s main corn areas, Agroconsult raised its safrinha corn crop estimate . . .
Soft wheat production in Romania is expected to fall to 9.31 MMT next season from last year’s record of 11.15 MMT due to. . .
Canadian farmers planted 25.4 million acres to wheat tis year, up from 25.0 million acres forecast in April and 2 million acres (8.7%) more than last year, according to Statistics Canada (Stats Can).
In the U.S., La Niña events tend to favor warmer and drier weather over the southern U.S., which can sometimes push up into Corn Belt.
Broad economic prospects for rural America may be looking up for the first time in years, even in the face of inflation and the risk of recession, the Wall Street Journal reports.
The head of the International Monetary Fund (IMF) on Wednesday said the outlook for the global economy had “darkened significantly” since April. . .
Thursday’s markets closed higher except for cattle.
The crop situation in Canada ranges from dryness/drought in areas of the Western Prairies to excessive wetness/flooding in eastern growing regions.
. . . the highest weekly production tally since the week ended Dec. 10 and 3.6% above the corresponding week last year.
The Ukrainian grain traders’ union UGA forecasts the country’s production at 19.2 MMT for wheat (down from a record . . .
USDA says corn-for-ethanol consumption totaled 414.7 million bu. in April, below expectations for use of 427.4 million bushels.
A senior United Nations (UN) official had “constructive discussions” in Moscow with Russia’s first deputy Prime Minister Andrei Belousov on facilitating Russian grain and fertilizer exports to global markets.
China’s cabinet announced a package of 33 measures covering fiscal, financial, investment and industrial policies to revive its pandemic-ravaged economy.
A broad mix of U.S. food and ag groups sent a letter to U.S. Trade Representative Katherine Tai calling for a halt to trade tariffs to ease inflation.
USDA now forecasts U.S. ag exports will reach a record $191.0 billion in fiscal year (FY) 2022, up $7.5 billion from the February forecast. . .
China has temporarily suspended beef imports from four Brazilian slaughterhouses, two operated by JBS SA and two by Marfrig.
India has no immediate plans to lift a ban on wheat exports but will continue with deals which are done directly with other governments, Commerce Minister Piyush Goyal told Reuters.
China’s customs authority has signed an agreement with Brazil to allow imports of Brazilian corn, the ministry of commerce said on Tuesday. . .
A new report by Eurasia Group and the food security consultancy Gro Intelligence says the most likely outcome of the war in Ukraine isn’t a massive escalation by Russia or a sudden outburst of doves crying for peace...
Planting delays are an increasing concern in the northwestern Corn Belt with the final crop insurance planting date for corn on May 25 for all but. . .
In “First Thing Today” we noted the Biden administration announced the Indo/Pacific Economic Framework (IPEF) to counter China’s influence in the region. IPEF, consists of four pillars that seek to:
Nearby soybean futures extended a nearly two-week rally to four-week highs behind bullish demand fundamentals, including stronger-than- expected exports, while resurgent soymeal also supported the soy complex.
Since the start of the 2021-22 marketing year on July 1, Ukraine has exported 46.5 MMT of grain, up from 40.9 MMT during the same period last year. . .
The International Grains Council (IGC) cut its global corn production forecast by 13 MMT to 1.184 billion metric tons, reflecting a downward revision to the U.S. crop.
USDA’s Cattle on Feed Report Friday afternoon is expected to show the May 1 feedlot inventory up 1.3% from year-ago. . .