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U.S. Export Sales Report (12-12-24)
We’ve been seeing high-performing export sales for several weeks now, but this week’s report brought some weaker numbers. Allendale commodity broker Greg McBride said both corn and soybeans were a little disappointing. While the number of flash sales has dropped off, McBride said the volume is still in line with what we would expect. There’s no need to panic, though, as McBride said that one week of lower total sales isn’t an automatic indicator for a downward trend. The team at Allendale can...
U.S. hog inventory up slightly
The U.S. inventory of hogs and pigs on September 1, 2024, totaled 76.5 million head, up slightly from September 1, 2023, and two percent higher than June 1, 2024. Breeding inventory, at 6.04 million head, was down two percent from last year, but up one percent from...
Rural North Carolina reeling after Hurricane Helene
We are no stranger to storm damage in the Midwest. Hail, tornados, and derechos can wreak havoc on our acres. But for everything we deal with, except for the 2020 derecho, it is nothing compared to the strength of a hurricane. The Southeastern part of the country is...
Quarterly Grain Stocks report didn’t make much of an impact
The grain markets were positioned for an impactful Quarterly Grain Stocks report, but what we got today was simply a neutral and slightly positive report. Allendale commodity broker Greg McBride said the corn numbers were friendly to the marketplace. McBride said the...
Partisan gridlock and the election could again delay farm, ag spending bills
Partisan gridlock and fallout from the November election could again force Congress to postpone key decisions for agriculture into 2025. It’s not just the farm bill, but USDA and other spending bills are also stuck in months of political gridlock in a narrowly divided...
Coastal port strike will have a big impact on meat and livestock industries
Longshoremen at ports along the East and Gulf Coasts are set to strike when their current labor contract expires at midnight tonight. U.S. Meat Export Federation Vice President for Economic Analysis Erin Borror said a shutdown will have a significant economic impact...
Veterinarian shortage reaching crisis level
Veterinarian shortages are not new. Anyone who ever needed a vet in the middle of the night will tell you that. And any rural vet called in the middle of the night will agree. What is new is the realization that it is about to get worse. “If our veterinary workforce...
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Take the initiative against SCN during SCN Action Month
BASF Agricultural Solutions and The SCN Coalition are partnering together to recognize October as SCN Action Month for the fourth straight year. The partnership brings farmers the latest tools, research, and resources in order to effectively manage soybean cyst...
Despite crop adjustments, USDA still projects a record harvest
USDA made slight changes to its October crop production forecasts, but as expected, it still predicts record soybean and near-record corn crops. USDA Chief Economist Seth Meyer said the October crop forecasts, after adjustments, had no surprises. As for the soybean...
Grassley discusses timeline for potential new farm bill in 2025
Senator Chuck Grassley (R-IA) says that it is looking more and more likely that a new farm bill is not passed in time in 2024. With a time crunch for Congress following the presidential election in early November, and still no farm bill compromise in place, another...
U.S. corn production up while soybean production drops
Friday’s USDA Crop Production Report showed corn production is forecast at 15.2 billion bushels, up less than one percent from the previous forecast, but down one percent from last year. Soybean growers are expected to increase their production by ten percent from...
A Christmas miracle amid a September hurricane
For a few weeks, we have been focused on the aftermath of Hurricane Helene in North Carolina, Tennessee, Florida, and Georgia. We have stories of loss and destruction. The disruption of lives has been breaking our hearts and leaving us all struggling to find ways to...