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Highly variable Argentine soybean yields reported

U.S. and Japanese officials announced an agreement allowing American producers to meet Japan’s growing demand for U.S. beef while lowering the risk of Japan imposing higher tariffs in the future.

Farm commodity prices, production costs and consumer food prices are higher than would have been expected a few months ago, according to the 2022 U.S. Baseline Outlook report by FAPRI.

Heavy showers and thunderstorms are forecast to track across northern Argentina and southern Brazil through Friday, according to World Weather Inc.

The President signed legislation on March 15 which provided funding for the federal government for fiscal year 2022. This includes the budget for USDA, which received a 4.4 percent increase year over year.

The good news is some parched areas are likely to see some rainfall soon. The potential downside: some areas that don’t need rain may get some, too.

May soybeans rose 22 1/4 cents to $17.18 3/4, the highest settlement for a nearby contract since September 2012. May soyoil jumped 143 points to 75.97 cents per pound, while May soymeal climbed $8.30 to $485.10.

Game wardens must have a warrant to conduct surveillance on private land and may not rely on the power of the federal Open Fields doctrine.