Pro Farmer Analysis
Members of the National Oilseed Processors Association (NOPA) crushed 182.9 million bu. of soybeans in July.
Details on the latest production forecasts from the International Grains Council.
However, if the Brazilian real were to rally, it could negatively impact Brazilian soybean producers by reducing their competitive advantage and increasing the costs of imported agricultural inputs like crop nutrients and pesticides, which are priced in dollars.
USDA raised its 2024 beef production forecast 81 million lbs. from last month due to higher steer/heifer and cow slaughter, which more than offsets lighter dressed weights.
Senate Ag Committee Chair Debbie Stabenow (D-Mich.) announced that progress on the farm bill has stalled due to Republican resistance to compromise on SNAP and climate funding.
The $800 million grain export facility project planned by Greenfield Louisiana LLC in Wallace, Louisiana, has been canceled after extensive delays in obtaining federal permits.
According to the organizations, the performance partly reflects the adoption of the reference value called the “export dollar,” in force since December 2023.
China installed more solar power capacity last year than the U.S. has built in its history, but this expansion has raised concerns as solar farms encroach on cropland.
Recap of the week’s price action for cotton with outlook broken down into the next 5, 30 and day day segments.
Corn-for-ethanol use fell shy of the average pre-report estimate of 450.0 million bushels.