Articles Tagged with ''corn''

Anti-biotech activists and sentiment are entrenched throughout Africa, but U.S. farm groups and businesses are hoping a free trade agreement with Kenya will help the country break through its GMO barriers and provide an example to other nations of what the science can do for farmers and food security.

China snapped up another 136,000 metric tons of 2019-20 U.S. soybeans this week, according to a USDA announcement Tuesday, showing the country is not letting up on purchases that go toward meeting its promises under the “phase one” trade agreement.

Grain markets barely reacted to USDA’s World Agricultural Supply and Demand Estimates report released Tuesday as U.S. corn ending stocks for this marketing year are expected to grow but not as high as traders had expected.

The USDA on Thursday reported sales of 686,000 metric tons of corn to Chinese buyers, with 371,000 tons of it for delivery in the 2019-20 marketing year and the rest — 315,000 tons — in 2020-21.

More than 30 Republican and Democratic House members are proposing to include an additional $50 billion in aid to farmers in the next COVID-19 economic relief bill.

USDA’s $19 billion COVID-19 aid package for farmers may fall well short of compensating producers for the estimated damage of the pandemic, and the department has an ambitious and novel plan to distribute USDA-purchased commodities to needy people. 

Friday’s announcement of $19 billion in coronavirus-related direct payments and commodity purchases was welcome news in farm country, which is reporting a growing level of stress about the pandemic.

Without government relief, some analysts are sharply lowering their estimates of net farm income because of the impact of the COVID-19 crisis on agricultural markets, with the livestock sector and corn growers bearing much of the hit.

Department of Agriculture officials dropped corn used to produce ethanol by 375 million bushels in this month’s World Agricultural Supply and Demand Estimates report released Thursday, while raising corn, soybean, and wheat ending stocks.

Over 100 biofuel plants across the country are fully idling or cutting production rates as gas prices fall because people are staying at due to the COVID-19 outbreak and major oil producers feud over output.