corn prices

U.S. farmers head for back-to-back 15 billion-bushel corn crops

Growers are planting more corn than expected this year and the result could be the second harvest in a row to exceed 15 billion bushels, according to a USDA survey of growers and projected yields per acre. The mammoth crop, only slightly smaller than the record set last year, could drive down farmgate prices for corn.

Second year of lower returns on corn and soybeans

The continued decline in season-average corn and soybean prices since the peaks of 2022 will pinch farmer returns from the crops for the second year in a row, said three analysts writing at the farmdoc daily blog. They estimated that operator and land returns would fall below $300 an acre, levels last seen from 2014 to 2019.

EPA calls for lower-polluting buses and heavy trucks

Manufacturers of heavy-duty trucks and buses will be required to produce vehicles that reduce greenhouse gas emissions by as much as 60 percent by model year 2032 under a new EPA regulation. The agency said a variety of technologies can be used by truck makers to meet the tailpipe emissions target, from cleaner-burning internal combustion engines to hybrids, electric vehicles, and hydrogen fuel cells.

Presidential election in Mexico could change corn policy, says Vilsack

Mexico might review, and potentially remove, its ban on imports of genetically modified white corn following its presidential election on June 2, said Agriculture Secretary Tom Vilsack on Sunday. "That would be my hope," said Vilsack. The new president, likely to be a woman for the first time, would take office on Oct. 1.

With inflation, $4.80 a bushel is the new $4 a bushel for corn

U.S. corn stocks will be relatively abundant in the near term, never dropping below 2 billion bushels at their lowest point, according to forecasters. Ordinarily, large supplies mean low prices, but two agricultural economists say a season-average price of $4.80 a bushel could be the new normal for corn.

After roller-coaster ride, food prices are back at starting point

Global food prices skyrocketed following the Russian invasion of Ukraine last February, but they have returned to earth, said the FAO Food Price Index, based on monthly changes in a basket of food commodities.

Drought pares U.S. corn and soy harvest, say traders

With the fall harvest getting under way, traders expect the USDA to trim its estimate of the U.S. corn crop by more than a quarter-billion bushels on Monday but to stick to its forecast of the largest soybean crop ever, at roughly 4.5 billion bushels. Dry weather in the western Corn Belt, including powerhouses Iowa and Nebraska, will lower corn production to just below 14.1 billion bushels, or 1 billion bushels less than last year, according to the average estimate from traders surveyed by wire services.

Highest-ever ethanol mandate will boost homegrown biofuels, says EPA

As part of an effort to "re-set and strengthen" the Renewable Fuel Standard (RFS), the EPA set the corn ethanol mandate at its highest level ever, 15.25 billion gallons, for this year. Ethanol is cheaper than gasoline at present, so biofuel backers said consumers would benefit at the fuel pump with more ethanol in the gasoline supply.

War drives UN food index to highest level ever

The UN index of food prices, already at a record high, rose by 12.5 percent in reaction to Russia's invasion of Ukraine, with world wheat prices soaring nearly 20 percent, said the Food and Agriculture Organization. Wheat prices were so high, said USDA analysts in a separate report, that consumers in sub-Saharan Africa may find it cheaper to eat rice, ordinarily the more expensive staple grain.

Cellulosic ethanol plant is retooled for renewable natural gas

Verbio North America says it will more than double the capacity of its plant in central Iowa to produce renewable natural gas from corn stover, and it plans to begin production of corn ethanol in the final months of the year. The facility was the first of three plants in the nation to return to biofuel production after faltering as a producer of cellulosic ethanol, made from grasses, woody plants and crop residue.

Vilsack says USDA and White House close to deal on biofuel aid

Agriculture Secretary Tom Vilsack said the administration appeared "very close" to releasing a long-promised $700 million in pandemic aid to biofuel producers. The aid was announced in March as part of a remodeling of coronavirus relief programs by the incoming administration.

Derecho blows away expectations of a record-setting U.S. corn crop

The windstorm that blasted across Iowa — "basically a 40 mile-wide tornado," in the words of Gov. Kim Reynolds — wiped out 9 percent of the crop in the nation's No. 1 corn state and obliterated the chances for a record-large corn harvest nationwide, said the USDA. Farmers will see notably higher season-average prices for the smaller, but still ample, crop that remains in the field.

Siding with farmers, Trump tells EPA to deny retroactive biofuel waiver requests

With an eye toward shoring up Farm Belt support less than two months before the election, President Trump directed the EPA to deny dozens of oil refiner requests for retroactive waivers from U.S. biofuel laws, Reuters reported on Wednesday.

Coronavirus may bring lowest season-average corn price in 14 years

This year's corn crop could sell for the lowest price in years — probably around $3.10 a bushel — depending on how quickly demand for ethanol rebounds and whether or not farmers plant less corn land than they planned to in March, said an economist at Kansas State University. (No paywall)

Sharply lower farm-gate prices forecast for U.S. crops

Farmers growing the three major U.S. crops — corn, soybeans and wheat — can expect a sizable decline in the average sales price for this year's harvest instead of the mild upturn that was forecast in late February, said the USDA. In its first projection of the fall harvest, the USDA said season-average prices for the three crops would be 8 to 10 percent lower than anticipated at its Outlook Forum.

Glut of white corn, used in tortillas, sends prices lower

With commodity prices in a trough since 2013, U.S. farmers have tried to bolster their income by diversifying their crops, such as planting white corn, the variety used in corn chips and tortillas. That decision is now coming back to bite them because overproduction is driving down the price of white corn.

U.S. corn stockpile swells by half a billion bushels in one year

U.S. grain bins hold the largest stockpile of corn in three decades — 32-percent larger than a year ago — and there will be little chance to reduce it given that a bumper crop is being harvested this fall. The outlook suggests comparatively low market prices through late 2018 at a minimum, possibly adding to pressure for larger federal supports as Congress writes the new farm bill.

The trials of agriculture: corn exports gone awry and was ‘pink slime’ defamed?

In Kansas City, a class-action lawsuit says Syngenta should be held liable for corn shipments rejected by China early this decade. And in Elk Point, South Dakota, Beef Products Inc. (BPI) is seeking billions of dollars in damages from American Broadcasting Companies Inc. (ABC) for reporting that used the name "pink slime" to refer to BPI's "lean finely textured beef."

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