Cost of Production
Roughly 3,000 Canadian Pacific Railway Ltd. (CP Rail) workers voted 96.7% in favor of going on strike starting March 16 if a collective bargaining agreement is not penned. CP Rail halts would mean trouble for fertilizer.
Secretary Vilsack supports attorney generals search for answers. He says once the market studies are completed, “we may learn additional steps we can take.”
UPDATE: 03/02 4:23 pm-EST-There are reports a missile struck a vessel flying under the flag of Bangladesh in Ukraine.
Jim Bowen carries a scar from a cottonmouth bite, but when he crossed paths with two leviathan-size timber rattlers, the prospect was almost more than he could handle.
Dept. of Commerce issued a preliminary determination this week showing urea nitrate from Russia and Trinidad and Tobago is being sold into the U.S. at less than fair value. The ruling could open the door for tariffs.
2021 was a strong financial year for many farmers. For 2022, input costs are rising rapidly. One ag lender cites $700 per acre in some scenarios. That means farmers will need strong yields this season to break even.
The U.S. Army Corps of Engineers will use $732 million in federal infrastructure funding to modernize a lock and dam on the Upper Mississippi River crucial for shipping grain and soybeans to export markets.
Even with no big shocks to the markets in USDA’s major reports this week, there are a few takeaways from the reports that could provide perspective and insight on future crops and how traders react to weather concerns.
Fertilizer is cited as the No. 1 concern. Plus, 45% of farmers say their plans for this spring are being impacted by the tight machinery inventory, according to the Ag Economy Barometer.
Look ahead to potential situations including debt limit, inflation, inputs costs, and foreign threats.