Farmers fall short of corn planting forecast

Deterred by trade war, the pandemic, and a bit of bad weather, U.S. farmers effectively chopped 1 billion bushels out of this year’s corn crop by planting far less of the crop than they had planned in early spring, USDA data indicated on Tuesday. “This was a huge acreage …

Record-high world grain production for second year in a row

With production surging by 4.4 percent, corn will drive world cereal grain production to record levels in 2020/21, said the UN Food and Agriculture Organization in its first forecast of the new crops. It was the second forecast in a week of record global output as the planting season ends in the northern hemisphere.

Soybean sprint underway as planting season rolls along

Farmers have planted two-thirds of the soybean crop — more than 54 million acres — a breath-taking change from a year ago when barely more than a quarter of the crop was in the ground by late May due to a persistently rainy spring, said the weekly Crop Progress report on Tuesday. Growers sowed …

Farmers’ shift to soybeans won’t avert grain glut

Low market prices will deter farmers from planting as much corn as they planned a month ago, but a record corn crop is still on the horizon, said two Purdue University economists on Monday. The mammoth crop would create the largest corn stockpile since the late 1980s while the already-large soybean stockpile grow bigger still.

Crop outlook tainted with uncertainty

Corn and soybean plantings by U.S. farmers are sure to surge this spring, according to USDA and private analysts, but the coronavirus pandemic is creating uncertainty about whether there will be enough buyers for a bumper crops this fall. The economic slowdown is likely to reduce demand for corn ethanol, hitting corn growers in the wallet, but the alternative crop for many farmers, soybeans, faces a glut of its own.

Ethanol market is ‘disturbing as hell’ to American farmers. And now there’s Covid-19.

Some 40 percent of the U.S. corn crop is refined into ethanol, but over the last two weeks, Covid-19 has joined a host of other disrupting factors to create what Geoff Cooper, president of the Renewable Fuels Association, calls “not just a perfect storm for ethanol, but a perfect tsunami.” Since the outbreak, ethanol prices have plunged to an all-time low of 88 cents a gallon and manufacturers are warning of more plant closures and reduced run rates.(No paywall)

Coronavirus darkens income prospects for grain farmers

Seven weeks ago, the USDA forecast the highest U.S. net farm income since 2013. Since then, the coronavirus pandemic has driven down grain prices and “reduced (the) grain farm income outlook for 2020,” wrote five university economists on Tuesday. “Given current expected …

Larger soybean and cotton plantings due to trade deal?

The "phase one" trade agreement with Beijing will bring larger U.S. plantings of soybeans and cotton this spring than now projected by USDA, as growers aim for revived exports to China, analysts said over the weekend. China is the world's largest importer of the commodities but U.S. ag exports to China were halved by the tit-for-tat tariffs of the Sino-U.S. trade war.

EPA issues biofuel mandate, is accused of breaking a deal on ethanol

Less than two weeks before the new year, the EPA said it modified the Renewable Fuel Standard to ensure that “a net of 15 billion gallons” of corn ethanol is blended into gasoline in 2020. But ethanol makers and farm groups were skeptical that the EPA’s final version of the RFS, issued on …