Although it is likely to fall short of its “phase one” target, China purchased a record $4.8 billion of U.S. food, agricultural and seafood products during October, contributing to the surge in grain and soybean prices, analysts said on Monday. “The big question right now for …
Farmers and pesticide applicators can use the weedkiller dicamba until July 31, the EPA announced on Monday as it canceled its approval of the herbicide, as required by an appellate court decision announced last week. The so-called existing stocks order will allow use of the chemical on GE cotton and soybeans this crop year — the goal of farmers facing the loss of a potent weed control tool with the growing season already underway.
Between stay-at-home orders and massive job losses due to the coronavirus, consumers are shunning apparel purchases, with the impact being felt all the way to the farm level, said the International Cotton Advisory Council on Monday. (No paywall)
In its first assessment since the coronavirus was declared a pandemic, the government forecast lower prices for U.S. crops and livestock as a worldwide economic slowdown, the result of aggressive efforts to squash the virus, weakens the global appetite for food. The notable exceptions are wheat and rice, where panic buying has driven up prices for the food grains, said the USDA on Thursday. (No paywall)
U.S. farmers will harvest their smallest corn and soybean crops since 2013, but the trade war will constrain exports of America’s two major crops for the second year in a row, forecast the USDA on Monday. Soybeans would sell at the lowest average price at the farm gate in 13 years.
The trade war with China and low commodity prices will combine to slash U.S. farm exports by 4.5 percent this fiscal year, said the USDA on Thursday in a quarterly forecast. Exports of $137 billion would be the smallest since 2016, when exports bottomed out following the collapse of the commodity boom.
Domestic demand for cotton is shrinking, so much so that U.S. cotton consumption this year will be the smallest since the 1890s, according to the USDA. In its monthly WASDE report, the USDA estimates usage at 3.1 million bales in the marketing year that ends on August 1, down by 4 percent from …
China, formerly the No. 1 customer for U.S. ag exports, will buy a comparatively paltry $9 billion worth of those exports this fiscal year, a startling 45 percent cutback due to the trade war, said the USDA on Thursday.
Georgia, the No. 2 cotton state, lost one-third of its crop to Hurricane Michael, said the USDA on Thursday in lowering its estimate of the total U.S. harvest by 7 percent because of storm damage in the Southeast.
As Hurricane Michael made landfall Wednesday, farmers in the Southeast were still recovering from the devastation caused by Hurricane Florence just weeks ago.