The U.S. International Trade Commission on Monday voted to reject steep duties on ammonium nitrate fertilizers from Trinidad and Tobago and Russia, going against a recommendation for tariffs from the Commerce Department.
Companies from Russia, China, North Korea, and Iran would be barred from purchasing U.S. agricultural land under language approved by the House Appropriations Committee on Thursday.
The world wheat crop is trending downward, due to a brutal heat wave in India and dry weather in Spain and France, said the Agriculture Department in its monthly WASDE report. Although Russia is expected to sharply increase its exports, more than 12 million tonnes of wheat would be liquidated from global stockpiles over the next year in the face of unrelenting demand for food.
Electrified by Russia's invasion of Ukraine, commodity prices are sky high, with soybean futures topping $16.80 a bushel and the USDA forecasting the highest-ever farm-gate price for wheat. But high prices for corn, wheat and soybeans are far more likely to revert to their long-term averages than mark the dawn of a new era of permanently higher prices, said five university economists on Tuesday.
The United States will export a record $191 billion worth of agricultural products this fiscal year as the world scrambles to replace the corn, wheat, and vegetable oil it would normally get from Russia and Ukraine, said the Agriculture Department on Thursday. It would be the second year in a row of record-high farm exports.
Aided by one of its largest crops ever, Russia will again be the world’s largest wheat exporter in the year ahead while neighboring Ukraine will ship only half as much wheat as this year, the result of the invasion by Russia, said the Agriculture Department on Thursday. The U.S. wheat crop will …
Jeff O’Connor gave President Biden a firsthand introduction to double-cropping on his 800-acre Illinois farm on Wednesday and agreed with the president that America can help fill the gap in global food supplies created by the war in Ukraine. “We have the ability to raise two crops in one growing season while simultaneously providing conservation benefits,” said O’Connor. “The farming community stands ready to maximize production, which we do so well, in this time of world need.”
The UN index of food prices, already at a record high, rose by 12.5 percent in reaction to Russia's invasion of Ukraine, with world wheat prices soaring nearly 20 percent, said the Food and Agriculture Organization. Wheat prices were so high, said USDA analysts in a separate report, that consumers in sub-Saharan Africa may find it cheaper to eat rice, ordinarily the more expensive staple grain.
The Biden administration is preparing to tap an emergency food aid fund because of the ripple effects of the Russian invasion of Ukraine on hunger in Africa and the Middle East, a U.S. Agency for International Development official told lawmakers on Wednesday. Hunger and poverty could exceed the global food price crisis of 2007-08, said Sarah Charles of USAID.
The United States stands ready to provide food aid overseas if it is needed in the wake of Russia’s invasion of Ukraine, said Agriculture Secretary Tom Vilsack in a letter to grain merchandisers. At the same time, the letter closed the door to suggestions for the emergency planting of crops on land enrolled in the Conservation Reserve, saying it would be impractical.
American farmers say they will plant more soybeans — a record 91 million acres — and less corn and spring wheat despite tight global wheat supplies that have been compounded by the Russian invasion of Ukraine. Russia and Ukraine are two of the world’s largest wheat exporters, and Ukraine is a leading corn supplier.
Global food shortages are a real possibility as a result of the Russian invasion of Ukraine, President Biden told reporters while meeting with allies in Brussels on Thursday. Western leaders, including European Commission President Ursula von der Leyen, joined Biden in saying they would step up their hunger-relief programs and encourage their farmers to grow more food.
Responding to the Russian invasion of Ukraine, the European Commission approved a $550 million aid package for its farmers on Wednesday and said they could grow food and feed crops on fallowed land without losing any of their so-called greening payments.
U.S. farmers face sky-high fertilizer prices as the spring planting season approaches, but their supply may be more assured than that of Brazil growers in the wake of economic sanctions on Russia, said three university economists. Brazil imports 85 percent of its fertilizer, with Russia ordinarily supplying one-fifth of it.
There are no overnight replacements for Ukraine and Russia in global wheat production, said five IFPRI analysts on Monday. "Even under the most optimistic assumptions, global wheat prices will remain high throughout 2022 and the trend is likely to persist through 2023, given limits on expanding production."
To mitigate the impact of war in Ukraine on global food supplies, the G7's agriculture ministers called on all nations to keep their trade channels open and to guard against unjustified limits on exports. "We will not tolerate artificially inflated prices that could diminish the availability of food and agricultural products," said the ministers in a statement after a special meeting convened via the internet.
The Russian invasion of Ukraine will slash wheat exports from the countries by a combined 12 percent, said the Agriculture Department on Wednesday in an initial assessment of the short-term impact of the war. Nations from Europe to Asia and Africa will import somewhat less wheat in coming months in the face of higher prices and reduced supplies from the Black Sea region, it said.
The Biden administration should encourage larger domestic food production to blunt the disruptions in global supplies created by Russia's invasion of Ukraine, said the Republican leader of the Senate Agriculture Committee on Tuesday. Arkansas Sen. John Boozman said the land-idling Conservation Reserve, if needed, could provide millions of acres of cropland and pasture "to address both inflation and food security concerns."