Latest News From Meghan Vick

First Thing Today | Sept. 21, 2021
First Thing Today | Sept. 21, 2021

Cordonnier warns his U.S. corn & soybean yield forecasts may fall. Gulf terminals slowly coming back online. Inflation will continue to rise over the next two years. Cattle hold up well in the fact of economic jitters.

Regan says new WOTUS will maintain pre-2015 exemptions for agriculture
Regan says new WOTUS will maintain pre-2015 exemptions for agriculture

EPA's administrator also said EPA hopes release that foundational proposal sometime in November.

10:30 a.m. Market Snapshot | Sept. 20, 2021
10:30 a.m. Market Snapshot | Sept. 20, 2021

Your midmorning update on commodity market action.

Corn and soybean inspections improve, but still held back by Gulf port damage
Corn and soybean inspections improve, but still held back by Gulf port damage

Wheat exports held strong and were near the upper end of expectation.

First Thing Today | Sept. 20, 2021
First Thing Today | Sept. 20, 2021

China’s wheat imports reach highest level in more than two decades. Russian wheat export prices climb for 10th consecutive week. Possibility of a debt default rattles the market.

USDA analysis skewed by including many small farms and not including non-operating landlords
USDA analysis skewed by including many small farms and not including non-operating landlords

ERS finally released analysis of Biden's plan to change stepped-up basis on inherited assets, and its conclusions don't tell the full story.

First Thing Today | Sept. 17, 2021
First Thing Today | Sept. 17, 2021

Russia lowers tariff on wheat exports for first time in a month. Biofuel producers pushing for modeling change regarding SAF tax credit eligibility. Pork prices have turned up, but cash market remains under pressure.

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Dryness expands in southern and eastern areas of the Midwest as growing season wanes

Drought spread across the Central and Southern Plains over the past week, as well as in southern and eastern areas of the Corn Belt, according to the latest U.S. Drought Monitor.

cornharvest_sunset
Warm, dry outlook concerning for winter wheat producers

Warm weather is likely to continue across most of the Midwest and Plains during October, according to updated weather maps from the Climate Prediction Center. The precipitation outlook for next month is less certain.

Wheat export sales hit new high for 2021-22
Wheat export sales hit new high for 2021-22

In contrast, corn sales slumped to less than 250,000 MT.

First Thing Today | Sept. 16, 2021
First Thing Today | Sept. 16, 2021

Strategie Grains calling for tighter global wheat supplies. Business Roundtable sounds alarm on debt ceiling; Yellen calls McConnell. POET pledges its ethanol will reduce emissions at least 70% vs. gasoline by 2030.

Unexpected rise in NOPA’s August crush
Unexpected rise in NOPA’s August crush

The August crush figure still represented a substantial slowdown in the crush pace from monthly records set the first five months of the crop year.

First Thing Today | Sept. 15, 2021
First Thing Today | Sept. 15, 2021

Nicholas expected to stall over Louisiana, storms possible in the Ohio Valley. Another light NOPA crush expected to close out marketing year. Pork prices surge.

FAPRI expects net farm income to retreat from 2021’s strong level next year
FAPRI expects net farm income to retreat from 2021’s strong level next year

Projected net farm income is expected to reach the highest level since 2013 this year, but net farm income is likely to fall $23 billion in 2022, according to FAPRI.

StatsCan slices its crop estimates, again
StatsCan slices its crop estimates, again

Its crop estimates continue to shrink against the backdrop of a punishing drought.

First Thing Today | Sept. 14, 2021
First Thing Today | Sept. 14, 2021

Cordonnier’s corn & bean crop forecasts edge higher. ABARES expects record-setting ag exports for Australia. Neiffer weighs in on proposed tax changes. Nearly 50% of U.S. offshore oil production remains out of service

Crop rating for corn slips as harvest begins
Crop rating for corn slips as harvest begins

Find highlights from USDA's latest crop progress and condition update.

10:30 a.m. Market Snapshot | Sept. 13, 2021
10:30 a.m. Market Snapshot | Sept. 13, 2021

Your midmorning update on commodity market action.

Corn inspections tank amid Hurricane Ida disruptions
Corn inspections tank amid Hurricane Ida disruptions

Soybean inspections were also quite light, though that has been the trend in recent months. Wheat inspections were solid, thanks in large part to more of the grain shipping out of the Pacific Northwest.

First Thing Today | Sept. 13, 2021
First Thing Today | Sept. 13, 2021

Tropical storm headed for Texas, Typhoon to disrupt shipments out of key Chinese ports. Russian wheat export prices continue to climb. Four-page document includes details of $3.5 trillion reconciliation package

Your  Pro Farmer newsletter (Sept. 11, 2021) is now available!
Your Pro Farmer newsletter (Sept. 11, 2021) is now available!

There's no need to wait for the mail. Access this week's newsletter here.

USDA-corn-unloading-harvest
USDA estimates the U.S. corn crop at just shy of 15 billion bushels

The department’s higher soybean crop estimate was in line with expectations, but its cotton production estimate came in quite a bit higher than the market anticipated.

10:30 a.m. Market Snapshot | Sept. 10, 2021
10:30 a.m. Market Snapshot | Sept. 10, 2021

Your midmorning update on commodity market action.

Cotton export sales impress
Cotton export sales impress

China accounted for more than half the 453,000 RB in 2021-22 crop sales.

First Thing Today | Sept. 10, 2021
First Thing Today | Sept. 10, 2021

Bigger corn, soybean crop estimates expected. ADM expects to resume export loadings at two Louisiana terminals by month’s end. Russia again hikes tax on wheat exports. Lawmakers announce bill to restore beef MCOOL.

Conab once again lowers its Brazilian corn crop forecast
Conab once again lowers its Brazilian corn crop forecast

Brazilian government statistics agency now estimates Brazil’s total corn crop at 85.75 MMT, a 901,000-MT decline from its August production estimate and a 16.4% retreat from 2019-20.

First Thing Today | Sept. 9, 2021
First Thing Today | Sept. 9, 2021

Hurricane Ida disrupting flow of grains, oilseeds to Asian buyers. Trucker strike in Brazil having limited impact on grain exports so far. Price pressures, slowing rate of growth in U.S. economy keys in Beige Book

Meat
U.S. exports of pork retreated in July, while beef shipments ramped up

China’s July pork shipments from the U.S. plummeted 62.2% from year-ago.

First Thing Today | Sept. 3, 2021
First Thing Today | Sept. 3, 2021

August jobs report on tap. StoneX raises U.S. corn and soybean yield forecasts after welcome rains. Russia has once more hiked its weekly tax on wheat exports. Manchin to Dems: Hit 'pause' on Biden's $3.5 trillion plan.

Heavy rain eases drought in the western Corn Belt
Heavy rain eases drought in the western Corn Belt

This week’s National Drought Monitor reflected widespread improvement across areas of the Midwest and eastern parts of the Central and Northern Plains in response to beneficial rainfall.

trade cargo
Impressive new-crop bean sales, driven by sales to China and ‘unknown’

The reporting period preceded Hurricane Ida. New-crop sales of soymeal were also impressive at nearly 400,000 MT.

First Thing Today | Sept. 2, 2021
First Thing Today | Sept. 2, 2021

Storm damage, power outages keeping all southern Louisiana terminals closed. Argentine producers consider grain and cattle trade strike to protest restrictions on beef exports. Brazil investigating suspected BSE case.

oil refinery
EPA requests remand of 31 SREs from 2018

The Renewable Fuels Association supports EPA’s reevaluation of the exemptions, but it objects to EPA’s remand request.

Evening Report | Sept. 1, 2021
Evening Report | Sept. 1, 2021

USDA to review acreage earlier for some crops, including corn and soybeans. Monthly processing reports for corn and soybeans. EPA requests remand of 31 SREs from 2018. Record farmland sale for Iowa.

First Thing Today | Sept. 1, 2021
First Thing Today | Sept. 1, 2021

Transportation expert comments on Hurricane Ida destruction. Russia could extend mineral extraction tax to fertilizer. Indian monsoon rains expected to pick up. Litigation, confusion follow overturning of water rule.

Evening Report | Aug. 31, 2021
Evening Report | Aug. 31, 2021

SovEcon cuts its Russian wheat crop estimate. Attaché: Covid-19 to have lingering impact on Brazil’s livestock sector. Hours of service waiver extended for livestock haulers.

Climate-smart agriculture is a sustainability solution
Climate-smart agriculture is a sustainability solution

"The loud and angry debates over crop-protection products in Europe can give the false impression that farmers like me are prone to over-use chemicals on what we grow," Maria Gabriela Cruz says in this guest blog post.

Argentina extends limits on beef exports another two months
Argentina extends limits on beef exports another two months

Argentina’s government has extended its restrictions on beef exports until the end of October, a politically charged move that’s likely to anger the country’s meat producers.

First Thing Today | Aug. 31, 2021
First Thing Today | Aug. 31, 2021

CHS says it could be up to a month before power restored at its Louisiana grain terminal. Consultant cuts Brazilian corn crop. Covid-19 hits China's service sector. Final U.S. military plane left Kabul.

Evening Report | Aug. 30, 2021
Evening Report | Aug. 30, 2021

Rains help corn and soybean condition ratings hold steady. Grain terminals assessing damage from Hurricane Ida. Statistics Canada confirms sharply reduced crop prospects.

CANADA-maplesleaves
Statistics Canada confirms sharply reduced crop prospects

Its July Estimates Production of Principal Field Crops report shows durum wheat crop prospects down 39.2% from the 2020 season at nearly 4.00 MMT, with spring wheat crop prospects down 37.7% at 16.10 MMT.

trade cargo
Corn and wheat inspections disappoint

Soybean inspections were stronger than the market anticipated, but expectations were limited and the amount of beans inspected for export were well under year-ago levels.

First Thing Today | Aug. 30, 2021
First Thing Today | Aug. 30, 2021

More rain for northern areas of the Midwest, Ida causes limited crop damage. IKAR reports Russian wheat prices still climbing. The real price tag of “social” infrastructure measure.

Your Pro Farmer newsletter (Aug. 28, 2021) is now available!
Your Pro Farmer newsletter (Aug. 28, 2021) is now available!

There's no need to wait for the mail. Download this week's newsletter here.

First Thing Today | Aug. 27, 2021
First Thing Today | Aug. 27, 2021

More rain for the Midwest, Delta producers brace for Hurricane Ida. Big jump in Russian wheat export duty. Fed’s annual Jackson Hole Symposium underway. China’s pork imports will rise in 2022.

Reuters reports EPA proposing retroactive lowering of 2020 RFS mandates
Reuters reports EPA proposing retroactive lowering of 2020 RFS mandates

Reuters is now reporting two of its sources indicate EPA has proposed retroactively lowering the 2020 Renewable Fuel Standard blending obligations in a nod to reduced fuel demand due to the Covid-19 pandemic.

Agriculture and Agri-Food Canada (finally) acknowledges heat, drought have slashed its wheat and canola crops
Agriculture and Agri-Food Canada (finally) acknowledges heat, drought have slashed its wheat and canola crops

It expects Canada’s 2021-22 all wheat crop to drop 15.01 MMT (42.7%) from last season to 20.18 MMT.

Evening Report | Aug. 26, 2021
Evening Report | Aug. 26, 2021

Mix of drought improvement and degradation for Midwest. Reuters reports EPA proposes retroactive lowering of 2020 RFS mandates. Agri-Foods Canada (finally) acknowledges drought has slashed its wheat and canola crops.