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June WASDE report overshadowed in commodity markets by EPA news
This month’s WASDE report was mostly neutral, which is what we usually expect from the USDA at this time of year. More will be revealed about the status of this year’s crop at the end of the month. Allendale commodity broker Greg McBride said the old crop corn ending stocks saw a modest increase. With the lack of action in the soybean exports, McBride said there was no change in the June WASDE. McBride explained why we usually see modest changes in the June WASDE report. Much of the pressure...
Reynolds moves to establish Iowa biofuels standard and increase availability
Yesterday, Governor Kim Reynolds introduced a bill into the Iowa Legislature to establish biofuel standards for fuel sold across Iowa and to provide Iowa retailers with increased funding to upgrade infrastructure to offer higher blends of ethanol and biodiesel.The...
USDA expects net farm income to decrease in 2021
The U.S. Department of Agriculture (USDA) released its 2021 farm income forecast.USDA Chief Economist Seth Meyer says, "We're going to have another above average year," in terms of net farm income. However, less net farm income than last year."Net farm income is...
2020 pork exports shatter previous records
Pork exports had a record-breaking year in 2020, according to the U.S. Meat Export Federation.USMEF President and CEO Dan Halstrom says U.S. pork exports reached nearly 3 million metric tons in 2020, topping the 2019 record by 11 percent. Exports set new annual...
Axne bill pushes rural community loan relief
Iowa Third District Congresswoman Cindy Axne recently introduced a bill that would support rural businesses by providing up to nine months of USDA loan relief. Late last month, Axne cosponsored the Rural Equal Aid Act which would cover the full principal, interest,...
A decrease in bankruptcies isn?t necessarily a good sign
Make no bones about it, we have had a hard couple of years in the agriculture industry. Years of depressed commodity prices have really taken their toll on the American farmer. However, last year gave us a little bit of a silver lining around some dark clouds. We saw...
USDA extends general signup for Conservation Reserve Program
The USDA is extending the general signup period for the Conservation Reserve Program (CRP), which was supposed to end on February 12. USDA will continue to accept offers as it takes the opportunity for the incoming Administration to evaluate ways to increase...
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More Ag News
Weekend Ag Matters- March 18th, 2022
In this week's episode of Weekend Ag Matters, Riley runs down the news headlines, Russ provides more faith-based food for thought, and Dustin and Brent share a couple of their interviews from the Commodity Classic.
Fuel price spreads in unchartered territory
Fuel prices reached record levels this month, and price spreads have been in unchartered territory. Scott Wilson, Energy Customer Risk Manager with Growmark, says fear has been fueling the markets.Supply issues have been supporting diesel prices. Wilson says diesel...
Vilsack says pandemic was a wakeup call for nutrition insecurity
USDA Secretary Tom Vilsack says nutrition security concerns grew during the COVID-19 pandemic.During a recent appearance at the Teacher?s College at Columbia University, Vilsack said his agency is concerned about nutrition security.?We learned from this pandemic, the...
Midwest 2022 weather concerns
Severe weather is a concern for the Midwest this year, as it always is. Eric Snodgrass of Nutrien Ag Solutions cited the December 15th outbreak as a sign of more severe outbreaks to come.?That December 15th event, it went from Colorado to Wisconsin and nine hours,...
USDA updates eligibility for Spot Market Hog Pandemic Program
The U.S. Department of Agriculture (USDA) has clarified the definition of a spot market sale and hog eligibility under the Spot Market Hog Pandemic Program (SMHPP), which assists producers who sold hogs through a spot market sale from April 16, 2020, through Sept. 1,...
