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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, December 18, 2024
The Agriculture Department reduced its fiscal 2023 forecast for U.S. ag exports to $190 billion, a $3.5 billion drop from the agency’s last estimate in August, largely reflecting weaker expectations for soybean sales.
In today's WASDE report, USDA increased production and offset some of those gains with higher domestic use. However, USDA did not lower export expectations which may be coming in the months ahead.
Mexico has not publicly ruled on genetically modified plant traits in the four years since President Andrés Manuel López Obrador took power, but the country’s health regulator Cofepris has been quietly approving and rejecting traits with an apparent bias against glyphosate-resistant corn seeds, according to U.S. government and industry sources.
Some farm groups are calling on Congress to allow farmers to reallocate the base acreage they have enrolled in farm programs, a move that could allow growers to increase their potential government payments.
Farmers across the country are largely ahead of schedule at getting their crops out of the field as fall and its chillier temperatures descent on farm country.
The Department of Agriculture Wednesday lowered its estimates for soybean yields, production and exports for the 2022-23 marketing year while acknowledging that Brazil will likely have a much larger harvest early next year.
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.
EPA has decided against regulating the use of pesticide-treated seeds under the Federal Insecticide, Fungicide, and Rodenticide Act, but the agency is looking into whether the seeds are being sold and used in ways that violate existing restrictions.
The Biden administration is pouring $2.8 billion, far more than originally planned, into a series of pilot projects aimed at developing markets for climate-smart commodities in every state and across a wide range of commodities and farm types. Another $700 million for smaller projects will be awarded later.
The USDA Monday cut its forecast for U.S. soybean yields and production in its monthly crop report, catching the market by surprise and sending futures prices higher.
