Farmers are harvesting the largest U.S. corn crop ever grown, 15.2 billion bushels, and only the third crop on record to top 15 billion bushels, said the Agriculture Department.
For the past 30 years, U.S. farmers have increased dramatically the amount of cropland that is planted to corn and soybeans — from 45 percent in the mid-1990s to 60 percent now — say four agricultural economists at the farmdoc daily blog.
The farm-gate value of U.S. corn and soybeans, the two most widely grown crops in the country, will fall 16 percent compared to last year's harvests due to a steep drop in commodity prices, according to USDA data. The season-average price for corn was forecast to be $1.70 a bushel below the near-record prices paid for the 2022 crop, and soybeans were expected to be $1.50 a bushel below last year's price.
Nine out of 10 farmers say they definitely or probably will stick with cover crops after the expiration of financial incentives to add the crops to their operations, said a report based on a survey of 795 farmers nationwide. Half of the participants in the National Cover Crop Survey said they had received some sort of payment for cover crops in 2022.
The United States will work with allies to find new ways to get Ukrainian grain onto the world market following Russia's decision to effectively blockade its ports again, said an administration spokesman on Monday. Nonetheless, exports from Ukraine, a leading supplier of wheat, corn, and sunflower oil, are sure to decline with the demise of the year-old Black Sea grain agreement, he said.
Competition from South America will crimp U.S. corn and soybean exports over the summer, according to a forecast by the Agriculture Department in its monthly WASDE report.
Drought covers large portions of the Midwest from Ohio to the Missouri River, said the weekly Drought Monitor on Thursday. Less than an inch of rain fell in eastern Nebraska during May, and half of Illinois was in drought, an increase of 20 points in one week.
The Biden administration asked for USMCA consultations with Mexico over its ban on imports of GMO corn for human consumption, the last step before filing a trade complaint in the long-running dispute.
Higher enrollment in SNAP and lower commodity prices will boost the 10-year baseline for the farm bill to $1.48 trillion, the most expensive ever, said the Congressional Budget Office in an updated projection of federal spending. The baseline sets the limit for spending in the new farm bill. …
For the second year in a row, the EPA said it would waive air pollution rules and permit summertime sale of E15 — gasoline with a 15 percent mix of ethanol — on an emergency basis, even though fuel prices are roughly 57 cents a gallon lower than they were a year ago.
If the United States takes its complaint against Mexico's ban on imports of GMO white corn to a USMCA panel, it could take 155 days — until late December or even January — for a final resolution, although a U.S. victory is likely, said three Ohio State University analysts.
American farmers will plant 7.6 million more acres of corn, soybeans and wheat, the "big three" crops of modern U.S. agriculture, this year than last, according to USDA estimates. With normal weather and trend-line yields, the result could be the largest soybean crop ever and the biggest corn crop since record production in 2016.
World grain supplies will rise marginally in 2023/24, buoyed by larger corn harvests in the United States, the EU, and Argentina, said the International Grains Council on Thursday. The council’s monthly Grain Market Report said corn production would rise 4.5 percent, to reach 1.202 billion tonnes worldwide.
Drought in Argentina and lackluster sales in the United States, two of the world’s major suppliers, will reduce global corn exports to their lowest volume in three years, said USDA analysts on Wednesday. Shipments from another leading source, Ukraine, were in question because an extension of the Black Sea Grain Initiative past March 18 has not been resolved.
Battered by drought and rising costs, U.S. cotton growers will devote more of their land to corn, wheat and soybeans — crops that promise higher revenue this year — while sharply reducing their cotton plantings, said a survey released on Sunday. The National Cotton Council said its survey of growers indicated 11.4 million acres will be planted to cotton this spring, 17 percent less than last year.
China-based Fufeng Group may be forced to abandon plans for a corn milling plant in North Dakota, with the Air Force declaring the project "a significant threat to national security." The plant would be 12 miles from Grand Fork Air Force Base, a hub for air and space operations. Critics say the processing facility could be used to spy on Air Force activities.
On the day before President Biden was to meet Mexican President Andres Manuel Lopez Obrador, the head of the largest U.S. farm group called for prompt resolution of a threat by Mexico to block imports of U.S. corn in one year's time.
The history of the current dispute between Mexico and the U.S. over genetically modified corn has roots much deeper than the presidential decree that set it off. Opposition to GMO crops in Mexico has simmered for twenty years, born of worries that ancient landrace varieties of corn that are central to the country’s social, cultural and economic well-being would be lost. (No paywall)
Boosted by large increases in most sales categories, U.S. farm exports mushroomed to a record $196.4 billion in the fiscal year that ended Sept. 30, according to newly released Commerce Department data.