Agricultural trade policy leads today’s Ag News Update as the Senate Agriculture Committee considers Gregory Ibach for USDA’s top agricultural trade post. We also look at a sharply smaller sorghum crop, USDA forecasting reviews, growing beef-on-dairy numbers, expanded Panama Canal capacity and the push for agriculture to capture more value beyond raw commodities.
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Today’s Ag News Highlights
– Gregory Ibach outlines an aggressive market-development and trade-enforcement agenda.
– U.S. sorghum production is forecast 37 percent below last year.
– Land-grant economists are reviewing USDA crop forecasting methods.
– Beef-on-dairy cattle may now represent about 25 percent of cattle on feed.
– Panama Canal daily transit capacity increases to 34 vessels.
– Texas Tech economist Darren Hudson says agriculture must capture more value beyond commodity production.