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USDA says Trump’s executive order suspending phosphate duties could cut fertilizer prices by about 22%, saving U.S. farmers an estimated $1.82 billion annually across 97 million planted acres.
Corn acres hold at 95.3 million — exceeding trade guesses — while USDA reports surprising June 1 corn stocks at 5.29 billion bushels. Get the full breakdown of USDA’s June Acreage and Stocks reports and expert analysis here.
Dangerous heat still enveloping much of Midwest
The Executive Order signed by President Trump Monday comes after years of farmer lobbying against phosphate duties, with Texas A&M estimating $6.9B in added costs since 2021 tied to sharply higher DAP fertilizer prices.
Improvements in the western Corn Belt outweighed deterioration elsewhere