Mexico displaces China as top market for U.S. food and ag exports
U.S. food and ag sales to Mexico surged by 7 percent during the 2024 fiscal year, making the North American neighbor the No. 1 ag export customer, according to Census Bureau data tracked by the USDA. China, the leader since the end of the Sino-U.S. trade war, fell to third place, behind Canada, in export purchases.
Stable near-term corn, soy, and wheat prices at U.S. farm gate, USDA says
For the next few years, season-average prices for U.S. corn, soybeans, and wheat, the three most widely grown crops in the country, will largely mirror the market prices for this year’s crops, projected the Agriculture Department on Thursday. The steep declines in farm-gate prices since 2022 would be replaced by a period of relative stability, according to the USDA’s long-term baseline.
Corn earworm develop Bt resistance via unexpected genetic path
The corn earworm is a widespread crop pest, particularly in the U.S. South, and adept at quickly developing resistance to genetically engineered crops. Over time, researchers looking at lab-selected strains of earworm have identified 20 genes that harbor mutations conferring resistance to pest-killing proteins in so-called Bt crops, which have been genetically engineered to produce bacteria that repel the earworm.
Corn and soybean stockpiles are biggest in four years, expected to grow larger
U.S. grain bins and warehouses held the largest corn and soybean reserves in four years at the beginning of the fall harvest, said the Agriculture Department on Monday. The stockpiles were expected to grow larger still due to bumper crops this year that would keep the pressure on weakening commodity prices for months to come.
Exports boom as bumper corn crop pulls down farm-gate prices
U.S. corn exports are climbing for the third year in a row and will be the fourth largest on record this trade year, thanks to the mammoth crop now being harvested and falling market prices, said the Agriculture Department on Thursday. The 15.2 billion-bushel crop would be just a hair smaller than the record set last year.
Corn, soy, wheat prices to run at pre-pandemic levels in years ahead
After soaring at the start of this decade, season-average prices for the three major U.S. crops will drop to pre-pandemic levels and stay there for the near term, said a University of Missouri think tank on Thursday. Cattle would be the most notable exception to an overall decline in crop and livestock values.
USDA grant money to boost sales of higher-blend biofuels
The Biden administration awarded $90.3 million in grants to projects in 26 states, from California to Connecticut, to install blender pumps, storage tanks, and other equipment for the sale of fuels, such as E15, with higher-than-usual blends of biofuels, said Agriculture Secretary Tom Vilsack. With the grants, the USDA has used $221 million of the $500 available through the Higher Blends Infrastructure Incentive Program.
Bumper U.S. crops this fall will drive farm-gate prices lower, says USDA
Farmers will reap their largest soybean crop ever this year, and the third-largest corn crop, said the Agriculture Department on Monday in its first forecast of the fall harvest. The mammoth crops will outpace demand and drive down prices, it said. Corn and soybean inventories would balloon to the largest size in six years and weigh on commodity markets far into 2025.
Agriculture adviser Rod Snyder leaves EPA on Wednesday
Rod Snyder, the first director of EPA's agriculture and rural affairs office, said on Monday that he was leaving the agency after nearly three years as its agriculture adviser. EPA administrator Michael Regan said farmers, ranchers, and rural communities "will always have a seat at EPA's table" thanks to Snyder's influence.
Multiyear run of low corn and soybean prices looms
Corn and soybean farmers should plan for much lower market prices for their crops in the near term, given trends in the futures markets, said six analysts writing at the farmdoc daily blog. “We may be again entering a period of lower prices, like that from 2014 through 2019,” they said.
Lower crop returns will pressure farmland market, say analysts
The boom in corn and soybean prices since 2020 is fading away, with lower farm income likely in the near term, wrote three agricultural economists in the farmdoc daily blog. “Returns to farming have declined, suggesting that cash rents should decline as well. How quickly or how much cash rents decline will depend on how far commodity prices fall as well as potential policy responses to those declines,” they said.
Farm bill should insist on stewardship — Des Moines Register
"Congress needs to take the plunge" in the new farm bill and "insist on conservation practices where it has, up until now, asked for cooperation while dangling a bit of cash," said the Des Moines Register, published in the No. 1 corn and hog state. USDA's soil and water conservation programs traditionally have relied on voluntary cooperation from farmers, aided by cost-sharing funds, but progress is unacceptably slow, said the newspaper in an editorial.
EPA tailpipe rule faces new lawsuit
The EPA overstepped its authority with its so-called tailpipe rule that requires automakers to reduce sharply greenhouse gas emissions from cars and pickup trucks, said the Renewable Fuels Association (RFA) and the National Farmers Union in a lawsuit filed in U.S. appellate court on Monday. It was the second lawsuit in four days to challenge the regulation.
China falls to third place as U.S. ag export market, USDA says
U.S. food and ag exports to China will fall by $6 billion this fiscal year in the biggest slump in sales since the Sino-U.S. trade war, forecast the Agriculture Department on Wednesday. Mexico and Canada will surpass China as the top customers, while the agricultural trade deficit will widen to $32 billion.
Analyst: ‘Sure looks like’ ag census undercounted corn and soybean acreage
The latest Census of Agriculture, released in February, reported a 2.2 percent decline in U.S. farmland from 2017 to 2022. A portion of that reduction, involving corn and soybean cropland, may be overstated, said Aaron Smith, a professor of agricultural economics at UC-Davis, in a blog.
Drought imperils production of corn, a vital food, in southern Africa
Hot and dry weather has reduced corn yields throughout southern Africa, “threatening food security for millions of households depending on this key staple for a significant share of calories consumed on a daily basis,” said the IFPRI think tank. In South Africa, the region’s major corn grower, the harvest could fall by 18 percent from the previous crop, said the USDA on Thursday.
Brazil, an agricultural giant, could expand cropland by 35 percent, say analysts
Already a major soybean, corn, and cotton grower, Brazil could expand its crop area by 35 percent through the conversion of overgrazed and overgrown pastureland, according to a research agency that is part of the Brazilian Ministry of Agriculture. Besides the potential addition of 70 million acres of cropland, Brazil could increase production by devoting more land to second-crop corn, said a team of U.S. university economists.
Big crops and lower prices for U.S. farmers in 2024
American farmers will harvest monster corn and soybean crops this year, including the largest soybean crop ever, at 4.5 billion bushels, and the third corn crop in four years to top 15 billion bushels, projected the Agriculture Department on Thursday. Season-average prices for the crops would fall for the second year in a row from the spike in commodity markets created by Russia’s invasion of Ukraine in 2022.