U.S. Department of Agriculture
If USDA predictions hold true, a massive U.S. corn crop is on the way.
The $16 billion in disaster aid covers crop losses due to natural disasters from 2023 and 2024. It’s the largest chunk of the $21 billion approved by Congress at the end of 2024.
As big yield estimates are being thrown around so early, it’s stoking an intense debate. However, that’s not stopping the trade chatter. With talk of a new national corn yield record, it’s pressuring prices, with many farmers staring at cash corn with a $3 handle.
In what it calls a comprehensive action plan for agriculture security, USDA unveiled seven critical areas the Trump administration will address, and securing and protecting U.S. farmland from being owned by China topped that list.
Technology overhaul, staffing upgrades at the local level and program tweaks aim to improve service for 23,000 farmers.
The third round of disaster aid payments through the Supplemental Disaster Relief Program is the largest amount appropriated by Congress. USDA Deputy Undersecretary Brooke Appleton says those payments are being prepared now.
Emergency Livestock Relief Program payments will be automatically distributed to eligible producers to cover grazing losses due to drought or wildfire events in 2023 and/or 2024.
Top of the list: Reforming the FSA loan program, regulatory action to disincentivize federal funding for solar panels on productive farmland and expanding permitting of unused or underused federal land for long-term leases.
The newly released stocks-to-use ratios for corn and soybeans show we can expect the markets to be responsive to any threat to yields this summer.
Unpack two key factors likely resulting in record cattle prices and impacts to the industry.