Midwestern farmers are likely to see “very low returns” from corn and soybean crops this year, said economist Gary Schnitkey of the University of Illinois as spring planting gets under way. When overhead costs such as seed, fertilizer, equipment and insurance are counted, returns …
The Trump administration, with the weight of a WTO ruling behind it, called on China on Thursday to eliminate trade-distorting wheat and rice subsidies that cost U.S. farmers hundreds of millions of dollars a year in export sales. The WTO panel report may provide impetus to negotiations to resolve the Sino-U.S. trade war.
The United States is awash in soybeans, the result of the trade war with China and a string of bumper crops. But although farmers were expected to respond by planting more corn this year while cutting back sharply on soybeans, it's no longer clear that this rush to corn will actually occur.
More than one-fifth of U.S. corn area is planted with drought-tolerant varieties, a remarkable rate of adoption considering the trait has only been available for a few years. Drought is a menace to farmers everywhere. In 2012, the U.S. corn yield plunged by 16 percent, or 24 bushels an acre, due to drought.
Farm-gate prices for corn and soybeans, the two most widely grown crops in the United States, are stuck in a rut for years to come, said the CBO on Monday in its long-term budget outlook. Farmers will grow near-record corn crops to generate revenue while slowly working down a soybean stockpile …
Global prices for cereal grains, dairy products and vegetable oils fell during September, pulling the Food Price Index to its lowest reading in at least a year, said the UN Food and Agriculture Organization. Corn prices dropped by more than 4 percent, "mostly on expectations of a very large crop in the United States and ample supply prospects globally," said the FAO.
Corn may be more profitable than soybeans in 2019, but that isn’t saying much about the outlook for midwestern farmers, say a pair of agricultural economists from the University of Illinois.
The mammoth corn and soybean crops awaiting harvest across America are larger than expected, the USDA said on Wednesday in its monthly Crop Production report.
A year after making soybeans the most widely grown crop in the country, U.S. farmers will make corn king again, driven by trade war with China and a burdensome soy stockpile, said the FAPRI think tank at the University of Missouri. "China's tariffs will reduce U.S. soybean exports," said FAPRI. The research group expects farmers will slash soybean plantings by 5.5 percent in 2019 in the face of the lowest market price in 12 years.
Soybeans are the largest U.S. farm export to China, and growers of the oilseed may be in line for huge federal payments, worth an average of $85 an acre, to offset the impact of retaliatory Chinese tariffs. Corn growers, meanwhile, might not get enough per acre to buy a cup of coffee at many restaurants.