Farm income high, except for cattle

Elevated commodity prices supported farm income and kept the U.S. agricultural economy strong into this autumn, said the Kansas City Federal Reserve Bank on Wednesday. "Prices of most major crops were at multiyear highs moving into fall harvest and supported farm revenue prospects," wrote economists Nathan Kauffman and Ty Kreitman.

Crop yields seen falling without climate action – report

The planet could be struck by a wave of “unprecedented” crop failures in the next 20 years if global greenhouse gas emissions continue as usual, according to a recent report released by Chatham House that examines the compounding threats posed by climate change. No Paywall

China to be world’s leading corn importer even with record crop

A favorable growing season and government policies that encourage crop rotations will result in a record corn crop in China, estimated the USDA. China is second to the United States as a corn producer and will be the world's largest corn importer for the second year in a row, according to the monthly World Agricultural Production report.

With better rains, Australia harvests twice as much wheat

World wheat production is headed for a record high this year, with a bumper crop in Australia providing the latest bump upward. Australia's crop forecasters, in an estimate adopted by the USDA on Tuesday, say the wheat harvest "is estimated to have increased by 120 percent in 2020-21 to 33.3 million tonnes."

Highest corn and soybean prices since commodity boom, says USDA

U.S. farmers, who harvested some of their largest corn and soybean crops ever last fall, will reap the highest season-average prices for the crops since the heady days of the commodity boom that ended in worldwide surpluses seven years ago, said the government on Tuesday. Commodity prices are on the rise due to tightening global supplies and large purchases by China, the first country to rebound economically from the pandemic.

August takes the sheen off of U.S. corn and soybean crops

The USDA assessment of the condition of the corn and soybean crops nationwide took a beating from derecho damage in Iowa and droughty weather in the Midwest during August, said the USDA on Monday. The Crop Progress report listed 62 percent of corn and 66 percent of soybeans in good or excellent condition, compared to 72 percent of corn and 73 percent of soybeans in those categories at the start of month.

Coronavirus adds stress to agricultural finances

The agricultural sector will struggle over the next year because of the coronavirus pandemic, leading some farmers to quit or be forced out of business, said economist Allen Featherstone in a think tank paper released on Monday. (No paywall)

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.

Record global corn and wheat crops on the way

World grain production will reach an all-time high of 2.23 billion tonnes, with record-setting wheat and corn harvests, said the International Grains Council on Thursday. The global inventory of all grains will rise for the first time in four years.

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.