Drought spreads across the corn and soybean belt
Drought covers large portions of the Midwest from Ohio to the Missouri River, said the weekly Drought Monitor on Thursday. Less than an inch of rain fell in eastern Nebraska during May, and half of Illinois was in drought, an increase of 20 points in one week.
CBO adds 2 percent to cost of farm bill programs
Higher enrollment in SNAP and lower commodity prices will boost the 10-year baseline for the farm bill to $1.48 trillion, the most expensive ever, said the Congressional Budget Office in an updated projection of federal spending. The baseline sets the limit for spending in the new farm bill. …
Land values in Brazil soy belt doubled from 2019-22
Cropland prices in Brazil doubled from 2019-22, pulled up by high commodity prices and strong investor demand, and aided by low interest rates, said four University of Illinois agricultural economists.
Bigger global corn crop this year, says IGC
World grain supplies will rise marginally in 2023/24, buoyed by larger corn harvests in the United States, the EU, and Argentina, said the International Grains Council on Thursday. The council’s monthly Grain Market Report said corn production would rise 4.5 percent, to reach 1.202 billion tonnes worldwide.
U.S. farm exports rise 14 percent to record high
Boosted by large increases in most sales categories, U.S. farm exports mushroomed to a record $196.4 billion in the fiscal year that ended Sept. 30, according to newly released Commerce Department data.
Drought pares U.S. corn and soy harvest, say traders
With the fall harvest getting under way, traders expect the USDA to trim its estimate of the U.S. corn crop by more than a quarter-billion bushels on Monday but to stick to its forecast of the largest soybean crop ever, at roughly 4.5 billion bushels. Dry weather in the western Corn Belt, including powerhouses Iowa and Nebraska, will lower corn production to just below 14.1 billion bushels, or 1 billion bushels less than last year, according to the average estimate from traders surveyed by wire services.
Record soybean crop within reach, despite planting delays
Farmers might still harvest the largest U.S. soybean crop ever, even if a rainy spring kept them from planting as much of the oilseed as they had intended. Meanwhile, growers planted slightly more corn than expected, despite high prices and tight supplies for fertilizer and pesticides, reported the Agriculture Department on Thursday.
Lawsuit challenges EPA over pesticide-coated seeds
Renewing a fight that began five years ago, two environmental groups have sued the EPA to force it to regulate pesticide-coated seeds in the name of protecting bees and other pollinators. Seeds coated with neonicotinoid insecticides are used on 80 percent of corn land and 40 percent of soybean land, although researchers question their value against late-emerging crop pests.
USDA says high input costs will dampen corn plantings
U.S. farmers will pare corn plantings by 1.5 percent and modestly increase soybean acreage this spring in the face of high input costs, projected the USDA on Thursday. High yields would bring the largest corn and soybean crops ever in America and pull down season-average prices for the two most widely planted U.S. crops.
Surge in yields brings biggest U.S. soybean crop ever
The U.S. soybean hit parade, with record production in 2016, 2017, and 2018, will continue this year with the largest crop ever, the government forecast on Tuesday with the harvest in full swing. A late-summer surge in likely yields per acre prompted the USDA to say the crop will be 2 percent larger than its previous estimate.
Drought scorches U.S. corn, soy, and wheat crops
U.S. farmers will reap two of their largest-ever corn and soybean crops, the first step to assuring an abundant food supply, the government said on Thursday, despite drought damage in the northern Plains and upper Midwest. The wheat crop, meanwhile, will be the smallest in 19 years.
Bumper U.S. corn and soybean harvests are within reach
The United States is headed for its largest corn harvest ever and its third-largest soybean crop, based on the USDA's annual Acreage report, issued on Wednesday. The mammoth crops would be ready for harvest late this summer, replenishing U.S. grain inventories that are being drained by robust demand at home and abroad.
Drought expands in upper Midwest
Warm and dry weather brought "widespread worsening of drought and dryness" to the upper Midwest in the past week, particularly in Iowa and Wisconsin, said the Drought Monitor.
USDA forecasts highest prices for U.S. crops in years amid global boom
U.S. farmers will reap two of their largest corn and soybean crops ever and sell them for the highest average prices since the commodity boom ended several years ago, said the government Wednesday in its first projections of the fall harvest. The USDA also said that global soybean king Brazil would increase its share of the world market at the expense of U.S. exports.
Unusually dry, or worse, in half of Midwest
Large swaths of Iowa, Wisconsin, Illinois, Indiana, and Ohio are abnormally dry and most of Michigan is in moderate drought due to limited spring precipitation, said the weekly Drought Monitor on Thursday. Arid conditions covered 48 percent of the Midwest, the heart of U.S. corn and soybean production.
U.S. survey indicates corn and soy crops will be smaller than expected
U.S. farmers will plant less corn and soybean land than expected this year, despite a surge in commodity prices, suggesting that tighter grain supplies will persist into 2022, said the USDA on Wednesday. Although with normal weather and yields, the corn and soybean harvests could be the second largest ever, they will not be quite as large as projected by traders and the government.
USDA projects record-setting corn and soybean crops
U.S. farmers will respond to high commodity prices by harvesting their largest soybean crop ever and a corn crop that could tie the record set in 2016, projected USDA on Friday. Delivered to a hungry world recovering from the pandemic, the 2021 corn and soybean crops would fetch some of the highest farm-gate prices in years.
USDA predicts robust farm income in 2021, aided by market rally
U.S. farm income will be a strong $111.4 billion this year, 20 percent above the 10-year average, thanks to a recovery in crop and livestock revenue and larger than usual federal payments, said the USDA. Higher market prices, particularly for corn, soybeans, cattle and hogs, and larger production were forecast to boost farm receipts by $20.4 billion from 2020's level.