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China came in with a major buy to start the week. USDA confirmed in its daily export sales report that Beijing purchased 1.084 million tonnes of U.S. corn marking the biggest buy since May of 2021.
Before Putin’s forces even breached the Ukraine border, fear and speculation drove commodity prices skyward. Concerns are warranted.
USDA says there are currently no plans to provide direct payments to farmers impacted by soaring fertilizer prices. The news comes as farm groups and lawmakers are asking assistance to help with rising fertilizer costs.
A growing number of lawmakers, farm groups and farmers are pleading for assistance from still surging fertilizer prices. One possibility for USDA would be to tap the Commodity Credit Corporation (CCC) Charter Act.
USDA’s Prospective Plantings report came with some shocks as farmers revealed 2022 planting plans. Despite the higher than expected soybean acreage numbers, some analysts say the soybean balance sheet is still tight.
The Ukranian government announced removal of corn and sunflower oil export license requirements to allow for easier exports, while also hoping the sale of the commodities will provide money for spring planting.
From changes in corn and wheat acres to more producers looking to plant soybeans, FBN’s 2022 Planting Report could be an early indication of what USDA’s March Prospective Plantings report will show later this week.
Farm commodity prices, production costs and consumer food prices are higher than would have been expected a few months ago, according to the 2022 U.S. Baseline Outlook report by FAPRI.
For March 2021, the Rural Mainstreet Index sits at 65.4. That is up from February’s 61.5.
Volatility is here to stay in the grain markets — but so could higher prices.
In the March World Agricultural Supply and Demand Estimates (WASDE) report, USDA made a deeper cut than expected to global soybean production.
Secretary Vilsack supports attorney generals search for answers. He says once the market studies are completed, “we may learn additional steps we can take.”
USDA’s 2022 supply and demand forecast came out just hours after Russia declared war on Ukraine. And as the crisis continues, USDA Chief Economist acknowledges the situation is impacting world trade and crop prices.
Despite signs Russian President Vladimir Putin may be ready to talk with representatives from Ukraine, Cargill confirmed a ship it chartered was hit in the Black Sea on Thursday. The vessel was empty at the time.
The Russia-Ukraine crisis sent wheat prices skyrocketing 50 cents higher, with corn up 30 cents at one point Thursday. Crude oil also soared above $100 per barrel, hitting the highest level since 2014.
AgriTalk’s Davis Michaelson hosted Vince Malanga, president of LaSalle Economics, on Tuesday, Jan. 25, to dive into the current events and potential market impacts.
Hopes for docile agriculture markets in 2022 have already been blown out of the water. Instead, we could be headed for a volatile year – or more.
USDA Secretary Tom Vilsack wants the Department of Justice (DOJ) to ensure seed companies and other input suppliers are not using their market power and current conditions to raise prices unfairly.
Brazil slashed its soybean forecast this week, while China’s hunger for U.S. soybeans seems to be growing. And it led to soybean prices continuing to surge higher this week.
Chicago soybean futures jumped more than 1% on Monday to their highest since June on concerns over supplies from South America and strong demand from China.
WTI oil prices crossed the $90 mark last week for the first time since 2014. Strong oil prices typically translate into strong demand for corn ethanol, but some analysts warn electric vehicles may put that on a detour.
As soybean prices race higher, some farmers may look to switch acres to soybeans this year. U.S. Farm Report analysts say with the acreage debate already heating up, the acreage battle could be the wildest battle yet.
No matter where you travel across the country right now, farmers share similar concerns. The latest Ag Economy Barometer fell to its lowest reading since July 2020 as the input situation weighs outlooks.
Mounting conflict in the breadbasket of Europe is driving volatility in wheat markets as Russia and Ukraine account for 29% of global wheat exports.
If you’re short on employees, you’re not alone. New forces are at work, and I don’t see them changing any time soon.
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.
On Monday the People’s Bank of China also announced a 0.1 percentage point cut to two of its key policy rates. It acted after GDP grew by more than 8% in 2021, but slowed down in the fourth quarter.
Dryness in South America prompted USDA to cut production estimates for key countries, such as Brazil, Argentina.
A new report from Texas A&M Agricultural and Food Policy Center (AFPC) a 50% rise in fertilizer prices equates to an average of $128,000 per farm. The largest per-acre impact would falls on rice farms at $62.04 an acre.
USDA will release several reports Wednesday, January 12, including Crop Production, Grain Stocks and WASDE. With declining outlooks for South America’s crop, Garrett Toay and Brian Splitt break down what to watch.