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Shining Light on Farm & Food Policy for 20 Years.
Sunday, March 23, 2025
Corn, sorghum, soybean and wheat exports are heavily dependent on markets that are headed for population decline over the next 25 years, according to a new report by Terrain.
USDA is lowering its estimates of global corn and soybean stocks in a report that doesn’t account yet for the impact of reciprocal tariffs or of new duties on Canada and Mexico that President Donald Trump plans for April.
Prices for most major row crops are likely to fall again this year, keeping pressure on farmer earnings, even as prices for cattle and poultry continue to rise in 2025 due to constrained supplies, according to USDA.
USDA is raising its estimated average farm-gate price for the 2024 corn crop by 10 cents to $4.35 a bushel, while shaving the expected price for soybeans by 10 cents to $10.10 a bushel.
Across the biofuel industry, some sectors are optimistic the Biden administration's framework for the key 45Z tax credit will boost clean fuel production and support farmers. However, the proposals are not a slam-dunk, and groups are preparing to continue advocacy with the new Trump team.
USDA is making it easier for growers to qualify for a new biofuel tax credit by increasing the number of eligible crops and climate-smart farming practices and dropping a bundling requirement.
Growers will still lose money on their 2024 corn and soybean crops despite the economic assistance payments approved by Congress in December, according to an analysis.
Texas farmers will receive about 10% of the $9.7 billion in market relief payments that Congress authorized in its year-end funding bill, according to a University of Missouri analysis. Iowa, Illinois and Kansas will collectively receive another 25% of the total.
The second part of a three-part series on the impact of agricultural exports on the U.S. economy and the risks and promise for ag trade going forward: U.S. ag exports to China are falling year after year following a spike driven by the Phase One agreement. Brazil, meanwhile, is ramping up its trading relationship with China.
Dry weather has helped speed Midwestern and Southern farmers through most of this fall’s corn and soybean harvest while also limiting the amount of grain they could send down the Mississippi River. As many park their combines for the year, they are hoping rain storms can replenish soils parched and waterways shrunk by months of drought.
