corn
Five senators call for halt to EPA ethanol waivers
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.
Trump orders plan to protect U.S. agriculture from China retaliation
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.”
In a surprise, farmers to cut corn and soy plantings by 2 percent
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.
Smaller wheat crop pulls down global grain output
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.
Think tank forecasts sluggish farm income, continued stress
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.
Drought wallops Argentina’s soybean crop
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.
Mexican corn farmers call for NAFTA limits on imports of U.S. corn
With the seventh round of NAFTA negotiations underway, the Mexican National Federation of Corn Farmers said the redrawn pact should limit corn imports into the country, reported Xinhua, the Chinese news agency.
Drought in Argentina may take a toll on world grain supplies
Argentina is headed for its worst drought in three decades, and a downturn in crop production will likely slow the economic recovery in a country where corn and soybeans account for 36 percent of all exports, said Bloomberg.
Biofortified corn might mean better nutrition in Colombia
The first corn variety that yields kernels rich in zinc, now available to farmers in Colombia, will combat malnutrition in the South American nation, says a coalition of researchers.
For second time, Trump referees oil-vs-ethanol squabble
Nearly three months ago, President Trump told oil-state and farm-state senators to find a mutually acceptable resolution to their fight over the Renewable Fuel Standard — the requirement that oil refiners mix biofuel, usually corn-based ethanol, into gasoline and diesel. Now the squabble is back in the president’s hands with a familiar set of proposals on the table for a group of senators who found them unpalatable in the past.
Corn vs. soybean race for U.S. dominance could be a squeaker
The contest between corn, the longtime leader, and soybeans to be the most widely planted U.S. crop may be closer than initially thought, said USDA chief economist Robert Johansson, speaking at the agency’s annual Ag Outlook Forum.
Commodity price slump is ending, says USDA; gradual increases ahead
When U.S. farmers bring their crops to market this year, they will see “the beginning of gradual price increases that are expected to continue through the decade,” ending the slump that began in 2013, said USDA projections. Prices for most crops, however, will remain below their 10-year average.
Despite oversupply, farmers keep up high production
Prices of wheat and corn — among other agricultural products — are as low this year as they’ve been since 2014. But despite falling prices and an oversupply of the commodities, farmers continue producing grains at record-breaking rates, reports the Wall Street Journal.
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.
Will commodity prices go up or down in 2018? Yes, say analysts.
Goldman Sachs said agricultural commodity prices are on course for a fourth year of decline, with corn prices at the end of 2018 running 33 cents a bushel below the current futures price for December 2018 delivery, said Agrimoney.
Largest global grain harvest ever keeps prices steady
The bigger-than-expected corn crop in the United States is helping to drive world cereal grain production to a record for the second year in a row, said the UN Food and Agriculture Organization.
ADM chief sees opportunity for U.S. ethanol in China
China's plan to move to a 10 percent blend of ethanol into its gasoline supply will be a boon for U.S. ethanol exports, said ADM chief executive Juan Luciano. Agrimoney says that Luciano told investors that China could need imports of 8 million tons a year by 2020 to satisfy the E10 target because of the nation's longer-term fuel strategy.
Up is down in USDA forecast of 2018 ag exports
U.S. farm exports are headed uphill and downhill at the same time in the USDA’s quarterly forecast of overseas sales, the source of one-fifth of farm income. The agency forecast that exports will reach $140 billion in fiscal 2018.