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Shining Light on Farm & Food Policy for 20 Years.
Saturday, October 19, 2024
China’s demand for corn remains strong and the U.S. continues to ship millions of tons of the grain there, but Brazil is chipping away at that trade and the South American ag giant shows no sign of slowing its advance.
An independent commission issues a report this week that's expected to make far-reaching recommendations for fixing widely perceived weaknesses in the Food and Drug Administration’s human foods programs.
The U.S. corn sector has been adamant that it cannot easily or quickly shift to producing non-GMO corn to comply with an upcoming Mexican ban, but Brazilian and Argentine farmers are also telling Mexico that it’s mistaken if it thinks it can rely on them to make up for the coming loss of U.S. supplies.
Prices for potassium chloride, the most common form of potash fertilizer, dipped in the third quarter, but global demand is expected to climb in the coming years amid supply shortages, which will keep prices strong as companies around the globe invest in new production capacity.
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.
A second big Supreme Court case for agriculture is coming up next week, this one involving California’s Proposition 12 requirements for animal housing.
The 2022-23 soybean marketing year starts officially on Thursday, and signs indicate exports will get off to a strong start. USDA data shows China is buying heavily, but marketing and education efforts by U.S. farm groups are paying off as demand is also growing in places like Egypt.
The USDA said Friday bumped up its forecast for U.S. soybean exports and dropped its prediction for ending stocks as Chinese demand remains strong and competition from Brazil is less than expected.
Chinese buyers have contracted this week to buy 1.347 million metric tons of U.S. corn, the latest large daily purchase in an effort to lock down supplies after the Russian invasion of Ukraine cut off exports from the country.
Agri-Pulse Daybreak: Budget process kicking off * Fortenberry resigning * USDA revises supermarket prices for 2022 upward * Ukraine gets new ag minister