Global cropland growth is mostly in tropics, challenging U.S. role
The world has added 398 million harvested acres of food grains, feed grains, and oilseeds since the start of the 21st century, mostly in tropical nations, said four analysts writing at the farmdoc daily blog. “Only with significant changes in its production technology” would U.S. agriculture, accustomed to being a world leader in row crops, benefit from this expansion, they said.
G7 farm ministers: Expand Ukraine grain exports via the Black Sea
Russia's invasion of Ukraine has had a devastating impact on global food security, said Group of 7 agriculture ministers on Sunday in a communique that called for expansion of Ukrainian grain shipments via a the Black Sea Grain corridor that is exempt from attack.
Good year for grain-farm income despite pandemic
The typical Midwestern grain farm could generate more than twice as much income this year as in 2019, thanks to higher market prices and large federal payments, said two University of Illinois analysts. The outlook for the new year is much more dour, especially without new stopgap payments.
Congress sends grain standards bill to Trump
The House gave final congressional approval to the Grain Standards Reauthorization Act on a voice vote on Wednesday and sent the bill to the White House for President Trump's signature.
Rush Section 199A fix into law, says largest U.S. farm group
Two large U.S. farm groups took opposite sides over legislation to repair an unintended flaw in the new tax law that gives farmers a huge deduction for crops and livestock sold to cooperatives.
Tax boon for co-op customers must change, says Grassley
The first major agricultural flaw found in the new tax law has “got to be changed,” said Iowa Sen. Chuck Grassley. Grain companies are very concerned that Section 199A of the new law “would put them out of business if we don’t do something,” he said.
Merger proposal would shorten the grain trade’s ABCD to three letters
The largest U.S. grain processor, ADM, is pursuing a takeover of Bunge, another of the giants of the grain trade that collectively are known as ABCD — ADM, Bunge, Cargill, and Louis Dreyfus, an unnamed source told Reuters. Due to low prices engendered by a string of bumper crops worldwide, margins are tight in the grain trade.
Grain companies say tax law gives edge to cooperatives
Privately owned grain companies, from the giants of the grain trade to local merchandisers, “fear their grain supply will dry up” because of a provision in the newly enacted tax law, said Reuters.
Food, feed and industrial demand boost grain usage to a record high
World consumption of grain will exceed 2.1 billion tonnes during 2017/18, a record due to "new peaks for food, feed and industrial uses," according to estimates by the London-based International Grains Council. "Food demand is expected to continue to drive increases for wheat while growth for feed and industrial use will push maize (corn) utilization to a new high."
At marathon NAFTA hearings, ag sector speaks in many voices
Farm groups were among the first to testify at three days of hearings called by the Trump administration as it decides how to modify the North American Free Trade Agreement. Agriculture has been an overall winner under NAFTA.