Searing drought in the central and southern Plains will result in the smallest winter wheat crop since 2002 and the second smallest in 47 years, said the USDA in its first estimate of the summer harvest.
More than 19 million acres of corn were planted last week, thanks to generally favorable weather in the Midwest, according to the Crop Progress report released on Monday.
Farmers have planted only 5 percent of this year’s corn crop nationwide, one-third of their usual rate headed into the final week of April, says the weekly Crop Progress report. Plantings are too small to register in eight of the 18 major corn states, including Iowa, the No. 1 corn …
In a letter to President Trump, five Corn Belt senators said on Monday the EPA "is currently undermining your commitment of a 15 billion-gallon RFS." The Republican senators sent the letter on the same day White House officials were scheduled to discuss possible revisions to the ethanol mandate, which requires oil refiners to blend in the corn-based fuel.
At the same time he threatened an additional $100 billion in tariffs on China, President Trump said on Thursday that the government will use its broad powers to protect U.S. farmers and agricultural interests from “China’s unfair retaliation.”
U.S. farmers intend to sow 3 million fewer acres of corn and soybeans this year than in 2017, said the USDA. The surprising development could draw down overly abundant U.S. stockpiles and bolster weak commodity prices.
The International Grains Council forecasts a modest decline in global grain production that will lead to a sharp reduction in the grain “carryover” at the end of 2018/19.
U.S. farm income has been in a rut since the collapse of the commodity boom in 2013, and it is likely to grow only slowly after a bump upward in 2019, estimated a University of Missouri think tank.
Prolonged drought will limit Argentina’s soybean crop to 47 million tonnes this year, about 10 million tonnes less than usual, estimated the USDA in its monthly WASDE report.