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Shining Light on Farm & Food Policy for 20 Years.
Friday, December 20, 2024
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
Brazil’s Ministry of Economy announced Tuesday that beginning Wednesday, Brazil will suspend its 18% tariff on ethanol imports for the rest of 2022 in an inflation-cutting effort to reduce fuel prices domestically.
USDA expects U.S. ag exports to hit a new record this year and projects continued strong prices for major commodities this year while acknowledging that Russia's invasion of Ukraine has injected new uncertainty into world markets.
