USDA releases record corn harvest estimates, potentially boosting subsidies (Agri-Pulse): USDA on Tuesday released projections for a record corn harvest of 16.7 billion bushels this fall and sharply lowered its expected average corn price—a combination that could lead to much higher commodity program payouts.
Based on its first field survey of the season, USDA forecasted average yields at an all-time high of 188.8 bushels per acre, up 9.5 bushels from last year. In its monthly World Agricultural Supply and Demand Estimates (WASDE) report, the agency also forecast ending stocks at 2.1 billion bushels, up 457 million from last month and the largest since 2018-2019.
Others react to the latest WASDE report:
Morning Ag Clips reported on Indiana Farm Bureau Chief Economist’s reaction to the latest estimates and the National Corn Growers Association’s call for action from Congress.
Farm Bureau released their analysis of the report.
AgWeb noted the report was “more friendly for soybeans with a net decrease in carryout”.
Farmers, truckers and gear heads praise EPA’s new streamlined diesel engine guidelines (AgWeb): EPA introduced new guidance for manufacturers of farm equipment and other heavy-duty vehicles, removing regulatory red tape requiring diesel-powered farm equipment to reduce engine torque dramatically when a problem arises with the machine’s Diesel Exhaust Fluid (DEF) system.
You can read EPA’s statement on the announcement here.
The new rule making goes into effect immediately for all new diesel engines on model year 2027 machines.