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Shining Light on Farm & Food Policy for 20 Years.
Monday, January 06, 2025
Farmers are expected to plant more corn, soybeans, and wheat acres than last year, but official estimates from a USDA report released Wednesday came in below trade expectations, which sent futures prices soaring.
The U.S. and European Union remain at odds over major trade issues, but leaders announced a new age of cooperation Tuesday, and U.S. farmers stand to benefit if leaders can follow through on the goodwill expressed in Brussels this week.
The U.S. and European Union reached an agreement Tuesday to bring an end to the long-running dispute over aircraft subsidies as well as a five-year suspension of retaliatory tariffs that impact agricultural trade.
Most of the iconic trading pits at the Chicago Mercantile Exchange, where traders would buy and sell corn, wheat, soybean and other future contracts with elaborate hand gestures, will close permanently, according to a CME Group announcement.
U.S. Trade Representative Katherine Tai has described the upcoming meeting with her Mexican and Canadian counterparts as a friendly-sounding “annual get-together,” but it’s also expected to be a showdown over contentious issues that have put the three countries at odds.
High commodity prices are fueling farmers' optimism as planters get rolling this spring, but in some areas the lack of rain this spring is making producers nervous as they plant into the dusty ground.
The nation’s corn pile is shrinking but soybean ending stocks are holding steady, according to Friday’s World Agricultural Supply and Demand Estimates report.
The nation’s farmers are set to plant 178.7 million acres of corn and soybeans combined this growing season, well below analysts' estimates, according to a USDA report released Wednesday.
The U.S. on Monday suspended a formal trade tie with Burma two months after a military coup and the arrest of the country’s elected leader, Aung San Suu Kyi, and others in her National League for Democracy party. The U.S. action comes after years of increasing agricultural trade with Burma amid warming relations between the two countries, but that progress is now threatened.
Agriculture Department officials left corn, soybeans, and wheat projections mostly unchanged in Tuesday’s World Agricultural Supply and Demand Estimates report.
