Policy Updates
The biggest surprise came from the agency cutting corn yield less than a bushel and loweing soybean exports by 50 million bushels.
The administration is expanding the list, which includes potash and phosphate, amid efforts to boost domestic mining and cut reliance on imports.
Market analysts says the September WASDE did not fully account for the disease pressure and dry finish in the East in both the corn and soybean crop.
China, the world’s largest soybean buyer,is turning to Brazilian cargies amid trade tensions with the U.S. and ongoing negotiations.
President Trump is urging China to buy more U.S. soybeans as they face a shortage, but analysts say quadrupling soybean orders is ‘highly unlikely.’
After months of negotiations, the two countries struck a deal to lower the so-called “reciprocal tariffs” from a proposed 25% to 15%, and said increased rice shipments from the U.S. to Japan are part of the deal.
The new rule is part of the Trump administration’s directives to dismantle diversity, equity and inclusion policies across the federal government.
The groups are urging the administration to “formally include farmers, ranchers and food producers in a collaborative stakeholder process.” An action report — a follow-up to the MAHA report released in May — is due by August 12.
Senate Republicans on Wednesday released the agriculture section of their budget reconciliation bill.
“We must ensure that we make a way for young and beginning farmers to fill our boots,” said Zippy Duvall, president of the American Farm Bureau Federation.