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USDA’s first look at net farm income shows without continued ad hoc government payments, net farm income will drop this year.
A far cry from this time last year, farmers are actually asking the question ‘what should I add?’ versus ‘what do I need to cut?’ With skyrocketing commodity prices, farmers have the opportunity to experiment.
The barometer drifted lower in January to a reading of 167. Even so, it shows areas of farmer optimism about making capital improvement investments and the outlook for farmland values.
China put a record number of corn purchases on the books to end January, but it’s not just China buying. This week, USDA confirmed China bought more corn from the U.S., a sign demand may be strong across the board.
China’s historic buys last week seem to come with nervousness from other major importers. So, are the higher prices rationing demand? Analysts say it’s not happening with China, yet.
Whether it’s to fulfill Phase One promised, or an increased need for feed, some say the timing of the record Chinese buys isn’t a coincidence. So, what’s driving the record demand from China?
USDA dramatically cut its 2020 average corn yield projection Tuesday, sending futures prices limit up. The 3.8 bu. per acre drop in the national projected yield is the largest in more than a quarter century.
Senate Agriculture Committee Chairwoman Debbie Stabenow (D-Mich.) says she supports the Biden Administration’s move to freeze payments under the Coronavirus Food Assistance Program (CFAP).
China’s appetite for U.S. corn seems unstoppable. Just this week, daily sales of corn to China added up to a new record.
A travel ban on South African guest workers, as currently set in place by executive order, could be devastating for U.S. farming operations.