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Shining Light on Farm & Food Policy for 20 Years.
Saturday, August 17, 2024
The USDA is planning on four more in-person trade missions around the globe this year, including to the UK and Kenya, nations that the Trump administration opened up negotiations with for free trade agreements.
USDA increased its forecast for global wheat stocks despite the war in Ukraine but also cautioned that the Russian invasion had “significantly increased the uncertainty” of agricultural supplies and demand around the world.
Global food prices hit an all-time high in February, led by sharp increases in vegetable oil and dairy prices as well higher costs for grains, according to the UN Food and Agriculture Organization.
Leaders of major crop groups say the farm bill commodity programs won’t adequately protect their margins at a time of skyrocketing input costs, but the organizations aren’t ready to propose specific changes.
Surging commodity prices have pushed crop insurance guarantees to record highs or near-record highs for farmers in the Midwest and Plains states this spring, which will help them protect their revenue against the soaring input costs.
The Environmental Protection Agency is standing by its decision to revoke all chlorpyrifos tolerances, clearing the way for a court to decide whether to allow continued use of the insecticide.
Farmers will be banned from applying chlorpyrifos to food crops starting Monday unless farm groups can persuade an appeals court to intervene, and experts say many growers lack reliable alternatives for controlling insect pests.
A coalition of farm groups are suing to block the Environmental Protection Agency from prohibiting the use of chlorpyrifos on food crops, starting Feb. 28.
The U.S. exported $177 billion worth of agricultural commodities in 2021, firmly besting the record in 2014 by about 15% and overshadowing 2020 totals by 18%, according to new data released by the Commerce Department.
It's dry in Argentina, Paraguay and the southern states of Brazil, and market watchers are going to be paying close attention in the weeks and months to come as the South American soybean crops are harvested.
