Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Dryness in South America prompted USDA to cut production estimates for key countries, such as Brazil, Argentina.
Economists at Texas A&M University recently completed two studies on impacts of surging fertilizer prices for farms.
After proposing in December the 2022 ethanol blending requirement will be 15 billion gallons, the Biden administration is thinking about reducing it before it becomes final . . .
Biden considering reducing 2022 ethanol blending requirement from initial proposal
In reaction to the reports, corn is still trading 2-3 cents lower, soybeans are 1-3 cents higher, winter wheat futures are 9-12 cents lower, spring wheat is 4-7 cents lower and cotton is 75-200 points higher.
EPA has forwarded to the Office of Management and Budget (OMB) for review a proposed rule regarding canola oil pathways for renewable diesel, jet fuel, naptha and liquid propane gas under the RFS.
USDA and the U.S. Trade Representative announced India has opened its market to U.S. pork imports.
With temps around 117 degrees, Argentina will likely see its hottest temps on Friday and Saturday since Jan. 23-24, 2014, according to World Weather Inc.
Corn futures traded mixed as traders evened up positions before tomorrow’s USDA reports. March futures edged up 1 1/4 cents to $6.01.
Argentina temps will be the hottest in about eight years
With the Biden administration eyeing a rewrite of the “Product of the USA” label, Sen. Roger Marshall (R-Kan.) introduced the Bona Fide Beef Branding Act of 2022 . . .
Unfavorable weather continues to reduce production potential in South America, with Argentina and southern Brazil facing hot and dry conditions, while areas of central and northeastern Brazil are too wet.
USDA’s January crop reports tend to swiftly move markets since there’s so much data.
The Supreme Court rejected appeal by Growth Energy to reinstate an EPA rule that would have permitted year-round sales of fuel containing as much as 15% ethanol.
Supreme Court rejects appeal to reinstate year-round E15 sales
Cargo vessels can load more corn and soybeans and reduce shipping costs due to dredging progress on the lower Mississippi River, according to the Soybean Transportation Coalition.
Consumers are willing to pay more for retail meat and most food service meat, according to the monthly Kansas State University Meat Demand Monitor.
Big jobs miss for December, but unemployment falls to 3.9%
The fourth increase over the past month by the exchange was due to higher-than-expected yields as farmers wrap up harvest.
Drier and hotter weather is predicted for southern Brazil, Paraguay and Argentina, according to World Weather Inc.
U.S. trade deficit widens for November despite increased ag surplus
Brazil-based consultancy AgRural slashed its Brazilian soybean crop estimate by 11.3 MMT to 133.4 MMT due to heat and drought in southern Brazil.
High pressures on global supply chain networks and a surge in inflation may have peaked, according to the New York Federal Reserve Global Supply Chain Pressure Index (GSCPI).
Due to dryness in Argentina, the Buenos Aires Grain Exchange says it might start marking down their record high 2021-22 corn harvest estimates. . .
Fed minutes: Need to hike rates faster, reduce balance sheet quickly
Soft wheat exports from the European Union for the 2021-22 season reached 14.01 MMT by Jan. 2. . .
Deploying climate-smart agriculture (CSA) policies globally will provide benefits from reducing greenhouse gas (GHG) emissions and providing carbon capture. But . . .
Ethanol industry officials praised and criticized EPA’s Renewable Volume Obligations (RVOs) proposed rules during the virtual hearing hosted by the agency.
Winter wheat damage likely to be limited with next cold blast
Crop Consultant Dr. Michael Cordonnier cut his Brazilian soybean and corn crop estimates.