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Shining Light on Farm & Food Policy for 20 Years.
Saturday, November 23, 2024
A new Canadian policy could be a major boon for U.S. corn farmers and ethanol producers, creating new demand and market access north of the U.S. border, but only if the Canadian government can be convinced to change a couple of key provisions.
A new report from the Department of Agriculture reduced the expected corn and soybean production this year, a move that also boosted the government’s expectations for commodity prices.
The U.S. and Brazil have not yet reached a deal on U.S. demands to be able to sell the country more ethanol, but the Brazilian government is making clear what it is demanding in return, according to sources in both countries. Brazil wants more access to the lucrative and tightly guarded U.S. sugar market.
Exports of U.S. soybeans to China started off the new 2020-21 marketing year strong, and the latest USDA weekly sales data show the pace of trade is heating up.
The recent derecho’s crop damage is so severe in a swath across Iowa and northern Illinois that many farmers will rush to replace bins the horrific wind also razed, but many won't.
The U.S. and Brazil have agreed to revive for 90 days the expired tariff rate quota that allows some U.S. ethanol to flow to the South American country duty free, the two countries said in a joint statement Friday night.
Department of Agriculture officials expect corn and soybean yields will average a record high this year despite lowering yield estimates from last month, and grain traders are watching to see if China keeps up ag purchases to support market prices.
U.S. and Brazilian negotiators continue to haggle over U.S. access to Brazil’s ethanol market, but lawmakers like House Agriculture Committee Chairman Collin Peterson, D-Minn., are losing patience as the talks drag on.
China has been ramping up its corn and soybean purchases in recent weeks, but USDA's latest trade data show Chinese imports through July this year are still below 2018 levels and are far from the pace needed to meet goals set in the “phase one” trade pact.
The USDA is reporting Thursday yet another large Chinese purchase of U.S. corn, reinforcing assessments that the country’s demand for the grain is strong as it tries to rebuild its swine herd.
