Your Pro Farmer newsletter (January 27, 2024) is now available

Iranian-backed Houthi militants in Yemen continue to attack ships in the Red Sea, prompting some global shipping firms to seek additional alternative routes. Markets have been relatively non-responsive thus far, but that could change if the attacks start to inflate prices. South American weather and production prospects remain a focal point, though traders are waiting to see if a gradual weather improvement in Brazil will stabilize crops while keeping a watch on the recent drier bias in Argentina. Much of the demand focus is on exports, though domestic biofuels garnered a lot of headlines over the past week, including the first ethanol-to-sustainable aviation fuel plant. Biofuels remains a key demand source for U.S. agriculture. It’s time to start evaluating your farm bill safety net options for the 2024 crop year. You can elect between Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) for the 2024 crop year until March 15. We outline key tools, price levels and safety net options in our News page 4 feature. We also address Livestock risk protection (LPR) on News page 3. We cover all of these items and much more in this week’s newsletter, which you can download here.