U.S. Department of Agriculture
What should you know ahead of USDA’s March 31 reports? Read through our team’s comprehensive coverage.
USDA looks to improve the future measure, monitoring, reporting and verification of ag climate emissions via a $300 million investment announced on Wednesday.
The biggest surprises included a 4-bu. reduction in corn yield and soybean ending stocks came in at 300 million bushels, which is 100 million bushels higher than trade estimates.
The USDA reports provided a bullish surprise for soybeans with acreage down 4 million from the March intentions. Corn acreage was bearish coming in more than 2 million higher than March. Where did the shifts occur?
USDA’s June 30 Acreage report is generally a big market mover, but early trade estimates show little change from March, while quarterly stocks estimates indicate tighter supplies than 2022.
Even with rains sweeping the Northern Corn Belt last weekend, the latest drought monitor shows drought continues to spread across Illinois with D2 (Severe Drought) taking a 28-point jump in a week.
Despite weekend rains sweeping the northern Corn Belt, corn and soybean conditions sit at the second-lowest level in history. Sizable declines hit key areas of the Corn Belt as corn enters a critical time for production.
According to USDA, Russian-speaking hackers are the likely suspects. The Office of Personnel Management and two organizations within the Department of Energy also were apparently targeted or breached.
CRISPR results are identical to results of conventional breeding, and it’s nearly impossible to differentiate from conventional vs CRISPR. The breeding tool is also having an impact on the apprehension of GMOs.
The Inflation Reduction Act is the most significant climate legislation ever enacted. The package includes more than $19 billion to support USDA conservation programs, but the money won’t last forever.