PRO FARMER
Argentina is on track to start long-awaited corn shipments to China from July, the country’s grain export chamber told Reuters.
USDA maintained its outlook for all food prices to rise 2.2% this year, with food at home (grocery) costs expected to be up 1.2%.
A recap of this week’s price action and key market drivers in the next 5, 30 and 90 days.
USDA is launching a new initiative to compensate dairy farmers for milk losses caused by H5N1,marking potentially the largest economic aid for the dairy industry to date.
The International Grains Council (IGC) cut its 2024 global corn production forecast 6 MMT from last month.
Drought in two key Brazilian corn-growing states is reducing the potential size of the country’s safrinha corn crop, according to Agroconsult, as the consultancy kicks off a countrywide field tour.
A quick transition from El Niño to La Niña and a dominating lunar cycle has six analog years, all of which suggest below-normal rainfall and warmer temps during summer, according to World Weather Inc.
Ship diversions from the Red Sea due to attacks by Iran-backed Houthi rebels have caused container freight rates to increase by about 30% in recent weeks.
For the first time in two years a uniform set of data reports is suggesting that restrictive monetary policy may be starting to bite, says Dr. Vince Malanga, president of LaSalle Economics.
President Joe Biden’s decision to raise tariffs on selected goods from China, impacting roughly $18 billion worth of imports, is expected to stir conflict within supply chains over who will bear the cost.