Latest News From Pro Farmer Analysis

What's the Next Market Focus for Soybeans?
What's the Next Market Focus for Soybeans?

November soybeans rose 37 1/2 cents to $12.90, the highest close since Sept. 28, after reaching a near four-month low overnight.

Dairy Industry Remains Divided on Milk Pricing Reform Amid Public Hearing
Dairy Industry Remains Divided on Milk Pricing Reform Amid Public Hearing

National Milk Producers Federation (NMPF) officials expressed hope for including additional milk pricing provisions in the upcoming farm bill.

Navigator CO2 Ventures Withdraws Pipeline Application
Navigator CO2 Ventures Withdraws Pipeline Application

Navigator CO2 Ventures has taken the step of voluntarily withdrawing its application for a section of its carbon capture pipeline in Illinois, citing the need to reevaluate the $3.5 billion project’s route.

IEA Predicts Slower Growth in Global Natural Gas Demand
IEA Predicts Slower Growth in Global Natural Gas Demand

The International Energy Agency (IEA) forecasts a slowdown in the growth of global natural gas demand through 2026.

Fertilizer
Fertilizer Makers Surge Amid Concerns Over Impact of Israel Conflict on Global Supplies

Fertilizer manufacturers experienced a significant uptick in their stock prices following a surprise attack by Hamas on Israel, which has raised concerns about the potential impact on global fertilizer supplies.

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U.S., U.K. to Initiate Trade Talks, but Agriculture Remains a Point of Contention

The U.S. and U.K. are preparing to commence trade talks under the banner of the U.S./U.K. Trade Partnership Forum (TPF).

Weather in Global Wheat Regions Leans Bullish
Weather in Global Wheat Regions Leans Bullish

Fundamental and technical analysis of today's wheat market action.

U.S. Meat Exports Rise in August
U.S. Meat Exports Rise in August

The U.S. exported 526.7 million lbs. of pork and 259.5 million lbs. of beef during August.

Corn Market Outlook for the next 5-30-90 Days (10/6/23)
Corn Market Outlook for the next 5-30-90 Days (10/6/23)

Corn market outlook broken down into the next 5, 30 and 90 day segments.

U.S. Trade Deficit Narrows to a Nearly Three-Year Low
U.S. Trade Deficit Narrows to a Nearly Three-Year Low

The U.S. trade deficit shrank to an almost three-year low in August. The U.S. ag trade deficit scores another record high.

Corn Rally Comes Despite Continued Volatility in Outside Markets
Corn Rally Comes Despite Continued Volatility in Outside Markets

Corn futures powered higher throughout the session after a break of technical resistance that capped gains the prior five sessions.

RFA Urges California to Accelerate Approval of E15
RFA Urges California to Accelerate Approval of E15

The Renewable Fuels Association (RFA) is calling on the California Air Resources Board (CARB) to expedite its approval process for E15.

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Russia May Ease Ban on Diesel Exports Soon

Kommersant reported the ban would be lifted only on pipeline exports of diesel, and that volumes may be subject to quotas to avoid surges in wholesale prices.

Small Refiners Challenge EPA’s Denial of SREs
Small Refiners Challenge EPA’s Denial of SREs

Two small refiners are once again challenging the Environmental Protection Agency’s (EPA) decision to deny small refinery exemptions (SREs) under the Renewable Fuel Standard (RFS).

Chinese Export Focus Shifting
Chinese Export Focus Shifting

Chinese exports to the Group of Seven (G7) industrial nations have seen a notable 7% decrease between March 2022 and August of this year, according to Geneva-based Trade Data Monitor.

Soy Crush Declines More Than Expected
Soy Crush Declines More Than Expected

U.S. processors crushed 169.0 million bu. of soybeans during August, according to USDA, which was 2.6 million bu. less than the average pre-report estimate.

Cattle 5-30-90 Day Outlooks (9/29)
Cattle 5-30-90 Day Outlooks (9/29)

The overall outlook for the cattle markets remains positive.

pC12 Banking on Biofuels 1
ADM, Syngenta Collaborate to Develop Low-Carbon Oilseeds for Growing Biofuels Demand

This collaboration aims to meet the surging demand for low-carbon biofuels, which are increasingly powering various modes of transportation, including trucks, buses, and airplanes.

Senate Ag Committee Explores Tighter Oversight of Foreign Farmland Investment
Senate Ag Committee Explores Tighter Oversight of Foreign Farmland Investment

The Senate Ag Committee is actively considering increased oversight of foreign investments in U.S. farmland, prompted by growing concerns, particularly regarding China.

Report: China Actively Buying Ukrainian Corn
Report: China Actively Buying Ukrainian Corn

Chinese importers are believed to have made large purchases of Ukrainian corn in the past two weeks, traders in Asia and Europe said.

Food Insecurity Persists as Pandemic-Era Benefits Cease
Food Insecurity Persists as Pandemic-Era Benefits Cease

A recent report highlights that food insecurity remains a pressing issue even six months after the conclusion of expanded government assistance programs designed to address pandemic-related challenges.

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Blumenauer Proposes Crop Insurance Reforms to Save Billions and Target Small Farmers

Rep. Earl Blumenauer (D-Ore.) introduced a crop insurance reform bill aimed at reducing costs and better targeting support toward small and mid-sized farmers.

Vilsack Addresses Concerns About Foreign Ownership of U.S. Agricultural Land
Vilsack Addresses Concerns About Foreign Ownership of U.S. Agricultural Land

USDA Secretary Tom Vilsack discussed the issue of foreign ownership of U.S. agricultural land and businesses during a White House briefing in anticipation of an upcoming Senate Agriculture Committee hearing on the topic.

Carbon Capture Pipeline Tax Credits Raise Questions About Benefits
Carbon Capture Pipeline Tax Credits Raise Questions About Benefits

As carbon capture pipeline projects gain momentum, questions are emerging regarding how the associated tax credits will impact farmers and conservation efforts.

USDA Updates Food Price Outlook
USDA Updates Food Price Outlook

USDA forecasts all food prices will increase 5.8% this year, within a range of 5.4% to 6.2%.

Soybean Outlook: 5-30-90 Days (9/22)
Soybean Outlook: 5-30-90 Days (9/22)

A recap of this week's price action and keys to watch over the next 5, 30 and 90 day segments.

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IGC Modestly Revises Global Crop Production Forecasts

The International Grains Council (IGC) raised its forecast for 2023-24 global corn production, while trimming wheat and soybean production.

EPA Urged to Strengthen Oversight of RFS Program
EPA Urged to Strengthen Oversight of RFS Program

The Environmental Protection Agency (EPA) has been called upon to enhance its oversight of the Renewable Fuel Standard (RFS) program to prevent fraudulent activities and circumvention of program rules...

DHS Proposes Reforms to Modernize H-2 Visa Program, Enhance Worker Protections
DHS Proposes Reforms to Modernize H-2 Visa Program, Enhance Worker Protections

Some of the key provisions within the proposal encompass the introduction of whistleblower protections and the strengthening of penalties for employers charging prohibited fees to visa workers.

NCGA Challenges EPA’s Conclusions on Ethanol’s Climate Benefits
NCGA Challenges EPA’s Conclusions on Ethanol’s Climate Benefits

The National Corn Growers Assoc. expressed criticism of a draft report from EPA’s Science Advisory Board, which questions whether increasing ethanol usage can significantly reduce greenhouse gas emissions...

ENSO Forecast May be Weakening El Niño Too Fast
ENSO Forecast May be Weakening El Niño Too Fast

The latest ENSO forecast from the U.S. National Oceanic and Atmospheric Administration (NOAA) and the U.S. Climate Prediction Center today implied El Niño may be peaking already.

Cattle Market Outlook: 5-30-90 Days (9/15/23)
Cattle Market Outlook: 5-30-90 Days (9/15/23)

Nearby live cattle and feeder futures ended the week at fresh all-time highs. We look ahead to the next 5, 30 and 90 days.

Stine Signs Seed Deal With China
China Ag Import Quotas for 2024 Expected in Early October

Every year, typically in late September or early October, Beijing unveils its import quotas for the following year, covering essential agricultural products such as wheat, rice, corn, cotton and sugar.

RFS Faces Legal Challenges From Environmental and Fossil Fuel Groups
RFS Faces Legal Challenges From Environmental and Fossil Fuel Groups

Environmental and fossil fuel organizations have launched a series of lawsuits against EPA’s latest standards for renewable fuel.

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IEA: ‘Significant’ Oil Shortfall in Q4, Warns of Price Volatility

Oil production cuts that Saudi Arabia and Russia extended to the end of 2023 will create a “significant supply shortfall” and threaten a renewed surge in price volatility, the International Energy Agency (IEA) warned.

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Panama Canal Faces Prolonged Drought, May Further Restrict Ship Transits

The Panama Canal anticipates that extreme drought conditions will persist into next year, continuing to hinder the passage of vessels through the crucial interoceanic waterway.

Environmental Groups Sue EPA Over Regulation of Large Livestock Feeding Operations
Environmental Groups Sue EPA Over Regulation of Large Livestock Feeding Operations

Environmental organizations have taken legal action by filing a lawsuit in the 9th Circuit Court of Appeals in San Francisco, aiming to compel EPA to increase its oversight of large livestock feeding operations.

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Robust Sorghum Demand and Exports Expected to Bolster Prices in 2023-24

The 2023-24 sorghum season presents promising export opportunities, likely resulting in improved sorghum premiums over corn.

Soybeans Start the Week Off Strong
Soybeans Start the Week Off Strong

November soybeans started the week off strong, rallying 6 cents to $13.69. December soybean meal closed $3.50 higher at $404.90. December soyoil ended the day unchanged at 60.50 cents.

Soybean Analysis - 5-30-90 Day Outlooks (9/8/23)
Soybean Analysis - 5-30-90 Day Outlooks (9/8/23)

We recap this week's price action and share our outlook broken down into 5, 30 and 90 day segments.

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Farm Debt Increases Amid Strong Loan Performance and Margin Challenges

Farm debt continued to rise, particularly non-real estate loans, with outstanding agricultural loan balances at commercial banks increasing by about 5%, according to an ag finance update from the Kansas City Fed.

China Asks Fertilizer Producers to Suspend Urea Shipments
China Asks Fertilizer Producers to Suspend Urea Shipments

China has asked some fertilizer producers to suspend urea exports after domestic prices jumped, Bloomberg reported.

Pork Industry Grapples With Whiplash of Shifting Regulations
Pork Industry Grapples With Whiplash of Shifting Regulations

The U.S. pork industry is navigating regulatory changes in California, with uncertainties surrounding compliance costs, supply and pricing.

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Reuters: Biden Administration to Delay SAF Subsidy Guidance Until December

President Biden’s administration likely will delay until December a decision on whether to make it easier for sustainable aviation fuel (SAF) made from corn-based ethanol to qualify for subsidies under the climate law.

EWG Report: Higher Reference Prices Would Favor Southern Growers
EWG Report: Higher Reference Prices Would Favor Southern Growers

U.S. farm groups and farm state lawmakers want higher reference prices in the upcoming farm bill. However, an environmental activist group, the Environmental Working Group (EWG), has raised concerns.

Voluntary Carbon Markets Experience Their First Contraction in at Least Seven Years
Voluntary Carbon Markets Experience Their First Contraction in at Least Seven Years

Companies like Nestle and Gucci are reducing purchases, and forest protection projects are showing unmet emissions-saving promises.

Farm Sector Profits Forecast to Fall in 2023
Farm Sector Profits Forecast to Fall in 2023

USDA forecasts net farm income will decline $41.7 billion (22.8%) from last year’s record to $141.3 billion in 2023, though that’s up from its February outlook of $136.9 billion.

Indonesia Plans More Biofuel Blends, Will Require More Ethanol Imports
Indonesia Plans More Biofuel Blends, Will Require More Ethanol Imports

Indonesian state energy company Pertamina plans to mix more of its gasoline products with ethanol in 2024 in a bid to offer alternative fuels to the public, its chief executive said.

El Niño Poised to Impact Global Food Prices
El Niño Poised to Impact Global Food Prices

The El Niño weather phenomenon will exacerbate the effects of India’s rice export ban and Russia’s withdrawal from the Black Sea grain deal, according to the Financial Times.

Canadian Wheat Production Estimated Lower Than Expected
Canadian Wheat Production Estimated Lower Than Expected

Statistics Canada estimated Canadian all-wheat production at 29.5 MMT, down 14.2% from last year.