Articles Tagged with ''corn''

Farmers across the country are largely ahead of schedule at getting their crops out of the field as fall and its chillier temperatures descent on farm country.

The Department of Agriculture Wednesday lowered its estimates for soybean yields, production and exports for the 2022-23 marketing year while acknowledging that Brazil will likely have a much larger harvest early next year.

Brazil has been steadily planting more corn in recent years, and production may be on the verge of explosive growth as farmers double and even triple crop to take advantage of high prices, Chinese demand and a rising domestic ethanol sector.

The Biden administration is pouring $2.8 billion, far more than originally planned, into a series of pilot projects aimed at developing markets for climate-smart commodities in every state and across a wide range of commodities and farm types. Another $700 million for smaller projects will be awarded later.

The USDA Monday cut its forecast for U.S. soybean yields and production in its monthly crop report, catching the market by surprise and sending futures prices higher.

India, an international ag trading powerhouse that often comes into friction with the U.S. over tariff and nontariff barriers, is the only Indo-Pacific Economic Framework country out of 14 not participating in the pact’s trade pillar after a major summit held in Los Angeles this week, according to government officials.

USDA’s Foreign Agricultural Service is still planning to resume publishing its weekly export sales report on Sept. 15, but that report will be much larger than normal because it will contain four weeks of data that haven’t been published because of problems installing a new reporting system, according to USDA officials.

The Agriculture Department is significantly increasing its farm earnings forecast for 2022, estimating that net cash farm income will reach its highest level in a decade due to the booming prices for crops and animal products.

The USDA Tuesday raised its forecast for ag exports in fiscal year 2022 to $196 billion, but the department also predicted the value of overseas shipments will fall in FY 2023.

The USDA on Friday lowered its yield and production forecast for both corn and cotton, sending futures prices up for both commodities.