PRO FARMER
IMF expects global growth of 2.8% this year and 3% in 2024, slightly below its forecasts published in January.
The credit could provide a major boon to biofuel products made of wastes and oils, but producers are also eyeing a big new market for corn-based ethanol.
“Total gasoline inventories are lower today than they were last year when EPA issued waivers to address the nation’s fuel supply,” the organizations wrote.
As 2022 comes to a close, it’s time to look back on the events, stories and people that were most influential for agriculture over the past year.
Weekly export sales for week ended Dec. 1 reported soybean sales over 1.7 MMT, topping expectations by over 500,000 MT and were up over 1 MMT from the previous week. Corn landed mid-range at 691,600 MT.
Grain and soy futures firmed overnight amid concerns about the deal to restart Ukraine’s grain exports and forecasts calling for a return of heat and dryness after some temporary relief.
Corn and soybeans are expected to open firmer, with corn getting a boost from a daily sale to China for 2022-23. Wheat is expected to open weaker.
As expected, USDA made just minor modifications to its forecasts this month.
USDA Secretary Tom Vilsack appeared before the House Ag Committee Thursday for nearly four hours.
EPA is currently evaluating the use of dicamba and whether it can be sprayed on GMO cotton and soybean plants with resistance to the chemical.