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A push by India to make more corn-based ethanol has turned Asia’s top corn exporter into a net importer for the first time in decades, squeezing local poultry producers and scrambling global supply chains.

Agriculture can sometimes act as a buffer during broader economic recessions, as demand for essential food items tends to remain relatively stable. However, when multiple indicators align in the industry, it can signal a recession.

Hormel Foods cut its annual sales forecast, hurt by lower commodity prices and a production disruption at its Planters brand manufacturing facility in Virginia.

There is uncertainty about the Farm Bill’s progress due to potential changes in the political landscape. One thing is certain: farmers need a new Farm Bill.

Dave Chatterton, Strategic Farm Marketing, says grain are higher early Wednesday. The market has been pushed by fund short covering, lower yield ideas and better demand. However, upside may be limited especially as farmers sell on the rally. Livestock are mixed.

Randy Martinson, Martinson Ag, says he was encouraged grains were all able to close higher and build on last week’s higher weekly closes. So was it all fund short covering?

This acquisition, announced in December 2023, gives KAES full ownership of the state-of-the-art facility, which has the capacity to produce 3.5 MMT of nitrogen fertilizers and diesel exhaust fluid annually.

There’s a big crop in the field for many Midwest growers, and it requires fuel. N supplies ears with the energy they need to add kernels all the way to their tips and to pack on weight.

Randy Martinson with Martinson Ag says grains saw fund short covering and profit taking building on higher weekly closes. There was also some money flowing into the grains with the stock market melt down. However, buying also stemmed from weather and ideas of lower yield and crop conditions in corn and soybeans.