PRO FARMER
Brazil announced a national fertilizer plan to reduce imports by 40% by 2050.
Meeting in Germany, the G7 agricultural ministers ask all countries to keep their food and agricultural markets open.
WOTUS has remained a source of friction & controversy since the Obama admin. put forth its more-restrictive definition in 2015 that was then replaced by the Trump admin. via the Navigable Waters Protection Rule.
The broader economic and geopolitical situation seemed to weigh upon cattle futures Thursday.
Russia will provide farmers with short-term loans with preferential rates worth over 160 billion rubles to ensure they have access to the inputs for a successful planting season, according to Prime Minister Mishustin.
With the recent Russian invasion of Ukraine, farmers should consider revenue protection crop insurance at a high level, according to agricultural economists on the University of Illinois farmdoc website.
Oil prices are expected to increase to an average of $117 per barrel for March, up $20 from its February average, EIA said in its Short-Term Energy Outlook.
Grain and cotton prices will likely continue to push higher, Goldman Sachs said in a note to investors and reported by Bloomberg.
China’s Minister of Agriculture and Rural Affairs Tang Renjian reported the country’s winter wheat condition could be the worst in history.
More countries are putting in measures to guarantee grain supplies.