Articles Tagged with ''corn''

USDA increased its forecast for global wheat stocks despite the war in Ukraine but also cautioned that the Russian invasion had “significantly increased the uncertainty” of agricultural supplies and demand around the world.

The war in Ukraine is threatening to cut global grain supplies and worsen food insecurity, leading to proposals to ramp up agricultural production in the United States and Europe by planting crops this year on conservation acreage.

Global food prices hit an all-time high in February, led by sharp increases in vegetable oil and dairy prices as well higher costs for grains, according to the UN Food and Agriculture Organization.

The nearly week-long Russian invasion of Ukraine is threatening to restrict already tight global supplies of grain and fertilizer as Black Sea distribution hubs and supply lines shut down amid the chaos and violence that is only expected to worsen as Russian aggression intensifies and Western sanctions broaden.

Leaders of major crop groups say the farm bill commodity programs won’t adequately protect their margins at a time of skyrocketing input costs, but the organizations aren’t ready to propose specific changes.

Surging commodity prices have pushed crop insurance guarantees to record highs or near-record highs for farmers in the Midwest and Plains states this spring, which will help them protect their revenue against the soaring input costs.

The war in Ukraine may impede the country’s ability to export millions of tons of wheat and corn to China, Saudi Arabia, Indonesia, Turkey and elsewhere, and U.S. grain could be called on to fill the supply gap.

China continues to be a “difficult and unpredictable market for U.S. agricultural exporters” because it flouts international trade standards set by the World Trade Organization, according to a new report to Congress from the Office of the U.S. Trade Representative.

EPA is proposing the latest revisions to its crop grouping regulations for the purposes of setting pesticide tolerances, a move that the agency says will benefit producers of minor crops and pesticide companies through lower registration costs.

Fertilizer prices have risen quickly and the National Corn Growers Association is warning that new tariffs on imports could make the situation even worse for farmers.