Latest News From Agriculture News

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Monday Morning Wake Up Call | June 7, 2021

Grain and soybean futures gapped higher overnight, lean hog futures are posting fresh highs as live and feeder cattle futures soften.

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Bullish chart trends for grain and hog futures

Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.

Yellen: Biden Should Push Ahead with Infrastructure Plans Even if it Boosts Inflation Into 2022
Yellen: Biden Should Push Ahead with Infrastructure Plans Even if it Boosts Inflation Into 2022

G7 nations support minimum global corporate tax rate of at least 15%, hurdles ahead

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Strong cotton sales and shipments to wrap up May
Strong cotton sales and shipments to wrap up May

Old-crop corn sales topped expectations, while new-crop sales were right in line with what the market expected. Exports of the grain held above 2 MMT.

Talks underway between Argentine government and livestock producers regarding export ban on beef
Talks underway between Argentine government and livestock producers regarding export ban on beef

Argentina’s Agroindustrial Council (CAA) issued a statement today saying Argentine meat producers will continue to hold talks with the government with the goal of lifting a one-month suspension on exports of beef.

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Rains have little to no impact on Northern Plains drought

On the High Plains, temperatures were cool and rain fell, but that did little to change drought conditions in the region.

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MarketWatch | June 3, 2021

Our updated monthly and quarterly price forecasts

Chinese dairy sector trying to expand rapidly to meet surging demand
Chinese dairy sector trying to expand rapidly to meet surging demand

While dairy operations are working to expand, finding millions of more cows is challenging, feed costs are high and both land and water are scarce.

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Brazil minister warns efforts to ensure hydroelectric power will disrupt movement on Parana River

Yesterday, Brazil’s Infrastructure Minister Tarcisio de Freitas said efforts to save water and direct it to power generation will inevitably disrupt navigation on the Tiete-Parana waterway.

Packs of beef imported from Australia at an Aeon supermarket in Chiba, Japan.
Argentine producers could extend ban on meat sales, expand strike to grains

Argentine cattle producers are slated to end their halt to meat sales at midnight tonight, but the ban could be renewed and extended to grain sales.

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POET acquires Flint Hills Resources’ ethanol business

As rumored, the ethanol producer POET announced Tuesday it had acquired Flint Hills Resources’ entire ethanol business.

Processing resuming at JBS facilities in the U.S. and Australia
Processing resuming at JBS facilities in the U.S. and Australia

The market is breathing a collective sigh of relief that the outage was short-lived.

Competitive Bidding Pushes Land Prices Higher
Competitive Bidding Pushes Land Prices Higher

Farmers National notes strong gains in farmland values since Jan. 1.

Strong corn condition rating to kick off season
Strong corn condition rating to kick off season

Highlights from today's USDA Crop Progress and Condition Report.

Marked downshift in the Ag Economy Barometer
Marked downshift in the Ag Economy Barometer

Purdue University and CME Group report the Ag Economy Barometer dropped 20 points during May to a reading of 158 points, the lowest since September 2020.

Ransomware attack with suspected Russian ties downs operations at JBS plants
Ransomware attack with suspected Russian ties downs operations at JBS plants

JBS is the world’s largest meatpacker and it controls around 25% of all U.S. beef capacity and roughly 20% of its hog slaughter capacity.

Corn crop starts the growing season slightly above average
Corn crop starts the growing season slightly above average

Initial Pro Farmer corn CCI rating is 4.7 points above the five-year average

Wheat, ready for harvest, on Tony Nordick's farm near Kent, Minn.
HRW crop improving into harvest, spring wheat CCI rating drops

An already low spring wheat CCI rating falls even further below the five-year average

Signal to Noise | June 1, 2021
Signal to Noise | June 1, 2021

Chip Flory and Jim Wiesemeyer discuss the infrastructure bill and other policy matters pertinent to agriculture.

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Weekly and monthly charts still pointed higher for corn, soybeans and wheat

Find updates to our short-term, intermediate- and long-term trends for commodity and key outside markets.

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Monday Morning Wake Up Call | June 1, 2021

Grain and soy futures are sharply higher to start the week after a weekend frost. Live and feeder cattle futures are under pressure with lean hogs mixed.

Corn export inspections even higher than anticipated
Corn export inspections even higher than anticipated

Wheat inspections dropped notably from last week’s strong showing. Soybean inspections were lackluster, as expected.

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Frosts and freezes for the Upper Midwest and Northern Plains over the holiday weekend

Temperatures dipped below freezing over Memorial Day weekend in the Upper Midwest and Northern Plains, raising questions about slowed development and the possibility some replanting will be needed.

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Download this week's newsletter.

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China’s wheat crop could help bridge any corn supply gap until corn harvest begins

Harvest of China’s winter wheat crop got underway this month, which along with Chinese changes in recommended feed mixes could cool Chinese buying of corn near-term.

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Recent rain for the Dakotas had little impact on drought

"Reports indicate much of this week’s heavy rains was immediately absorbed by the severely dry soils, with no runoff into empty dugouts or ponds," according to today's Drought Monitor Summary.

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MarketWatch: Cash corn, soybean prices continue to retreat

Our Market Watch table features monthly and quarterly price outlooks along with weekly prices for a variety of ag markets.

Another week of outsized corn export sales, driven by known business to China
Another week of outsized corn export sales, driven by known business to China

China bought a total of 5.812 MMT of corn the week ending May 20, with 5.644 MMT of those purchases being new-crop.

Another strike at Argentine ports underway as Covid-19 spreads
Another strike at Argentine ports underway as Covid-19 spreads

Argentine port workers launched another 48-hour strike at midnight as they continue to push to be designated essential workers so they can receive Covid-19 vaccines.

USDA seeking proposals for quantifying climate benefits of CRP
USDA seeking proposals for quantifying climate benefits of CRP

FSA will invest $10 million to measure and monitor the soil carbon sequestration and other climate and environmental benefits of conservation practices over the life of CRP contracts

Food prices continue to rise
Food prices continue to rise

The all-items consumer price index climbed 0.8% from March to April, with the gauge of economy-wide inflation now up 4.2% from year-ago levels, according to USDA’s Economic Research Service.

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U.S.-based ag company announces plans to build canola facility in Saskatchewan

Ceres Global Ag Corp. today announced it will build a $350 million canola crushing facility in Northgate, Saskatchewan, which is near Canada’s border with the U.S.

ISU Economist Says Line Speed Court Ruling Will Slash Pork Processing Capacity by 2.5%
ISU Economist Says Line Speed Court Ruling Will Slash Pork Processing Capacity by 2.5%

Dr. Dermot Hayes says even with possible mandatory overtime to compensate for lost capacity, the industry will lose 2.5% of overall harvest capacity if the ruling stands, with small producers likely to be hardest-hit.

Judge Shoots Down Effort to Halt Mexico's Bans on GMO Corn and Glyphosate
Judge Shoots Down Effort to Halt Mexico's Bans on GMO Corn and Glyphosate

A Mexican federal judge shot down a request by the National Farm Council to freeze a plan by the Mexican government to ban genetically modified (GMO) corn and the herbicide glyphosate by 2024.

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HRW CCI Improves, Low Initial Spring Wheat CCI Rating

When USDA’s weekly crop condition ratings are plugged into the weighted Pro Farmer Crop Condition Index, the HRW rating improved while the SRW ratings fell.

Cold Storage Report Confirms Strong Meat Demand
Cold Storage Report Confirms Strong Meat Demand

The pork and beef stocks numbers both speak to pent-up consumer demand as Covid-related restrictions ease.

Signal to Noise | May 24, 2021
Signal to Noise | May 24, 2021

Chip Flory and Jim Wiesemeyer discuss key policy issues including rural internet connectivity and infrastructure.

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Inspections Slide from Last Week’s Strong Showing

Shipments of corn, soybeans and wheat were within expectations.