Top agribusiness, farming, ranching and rural-related news
Second Round of COVID-19 Agricultural Assistance Coming Soon
More relief may be coming for farmers and ranchers affected by COVID-19 shutdown and loss of marketing opportunities
All Ag News
Chinese Ag Purchases Under Phase One Agreement Lagging
Following another big week of commodity purchases from China, a recurring question by U.S. farmers and farm groups is whether these exports will, in fact, add up to their commitments.
Small Business Spending Down Due to Financial Uncertainty
Small business spending fell sharply for the second straight quarter due to a significant drop in revenues caused by pandemic lockdowns as spending shifted to debit cards.
Low Prices Causing Drop in Brazilian Cotton Plantings
USDA’s Foreign Agriculture Service projects 2021 Brazilian cotton plantings at 3.7 million acres, down 10 percent from the current harvest.
North American Ag Trade Has Skyrocketed Since 1994
Over the last quarter-century, the United States has become one of the largest agricultural importers in the world.
Allendale Survey Suggests 15 Billion Bushel Corn Crop
Allendale, a commodity brokerage and analysis firm, is projecting a domestic corn crop at 14.98 billion bushels in 2020.
Report Suggests Six Million New American Jobs Coming
According to the Occupational Outlook Handbook, the U.S. economy is projected to grow by .4 percent or an additional 6 million jobs by 2029.
EPA Proposes Streamlined Process for Biotech Breeding Approval
Agricultural groups are applauding an announcement by the EPA for a proposal to streamline the regulation of some biotech advancements.
USDA to Extend Summer Meal Program Through December
Agriculture Secretary Sonny Perdue announced that USDA will allow summer meal program operators to continue serving free meals to all children through December 31, 2020 or until all funding is exhausted.
World Agricultural Trade Faces Challenges on Some Fronts
Trade in agricultural products has been more resilient than overall trade, according to a new report from the World Trade Organization.
Japanese Beef Consumption Expected to Rebound in 2021
Japanese beef production is projected to remain flat in 2021 as marginally higher slaughter is offset by lower carcass weights.
Purdue/CME Group Ag Barometer Ticks Higher in August
Farmer sentiment improved markedly in August as the Purdue University-CME Group Ag Economy Barometer rose 26 points higher than a month earlier.
Smaller Crop and Increased Competition Ahead for Cotton
USDA’s Economic Research Service is projecting FY 2021 cotton exports to fall to $5 billion, down $400 million from 2020 due to a shorter domestic crop and increased foreign competition.
Another Round of Food Boxes Coming from USDA
Following the President’s announcement of additional funding up to $1 billion, USDA is planning to extend current contracts to deliver food boxes through September 18.
Drought Monitor Continues to Forecast Hot, Dry Weather
The U.S. Drought Monitor revealed a continued intensification of drought across western parts of the country
U.S. and Chinese Official Discuss Phase One Progress
The U.S. and China are seeing progress in the implementation of the Phase 1 trade agreement. During a six-month review this week, senior officials from both countries reaffirmed commitments to ensuring the agreement’s success.
Cotton Incorporated Facing 10 Percent Reduction in Funding
Though held virtually for the first time in its history, the Cotton Board recently reviewed, analyzed, and voted to recommend Cotton Incorporated’s 2021 budget of $80 million to the Secretary of Agriculture.
Cattle Industry and Environmental Groups Sign Conservation Agreement
The National Cattlemen’s Beef Association and the Public Lands Council signed a Memorandum of Understanding Monday with Ducks Unlimited and Safari Club International with a commitment to the conservation of natural resources through sustainable multiple uses.
USDA Supplying RFID Ear Tags for Voluntary Traceability
More than 10 years ago, USDA proposed a mandatory national animal identification program to protect the cattle industry from long-term injury in the event of a disease outbreak. That proposal, however, fell as cattlemen across the country balked at a government-mandate that would increase costs at a local level and could expose personal producer information to others.
Weekly Export Report Reveals Impressive U.S. Wheat Sales
Wheat sales last week were impressive, increasing 46 percent over the previous week and 41 percent above the 4-week average, with Mexico and China topping all buyers.
Beef Supply and Demand Equation Driven by Packers
The monthly Cattle on Feed report was bearish but that report does very little about determining where we are now in the balance between supplies and demand for beef.
Looking to Improve: USDA Asking Farmers for Advice
The U.S. Department of Agriculture (USDA) announced a new annual survey of farmers, ranchers, and private forestland owners.
China Records Largest U.S. Beef Purchase in History
China’s foodservice sector is rebounding from COVID-19 restrictions imposed earlier this year
FSA Establishes Call Center to Assist New Customers
With so many different programs and deadlines facing producers this year, USDA’s Farm Service Agency has set up a call center to provide answers and assistance.
Cotton Industry Cautious About Future As Retailers Struggle
The COVID-19 global shutdown has weighed heavily on the cotton and textile industries. As economies begin to reopen there has been some improvement in economic activity, yet consumer spending on apparel has led to a drop in year-over-year demand.
USDA Grants Emergency CRP Haying and Grazing Waivers
With 48 percent of Texas and 31 percent of the United States now experiencing drought conditions, livestock producers have been urging Congress and the Administration to respond by opening up emergency haying and grazing of CRP acreage.
Soybean to Corn Ratio Favoring Expanded Bean Acreage
As the Pro Farmer crop tour wraps up, it’s interesting to consider the soybean to corn price ratio, as it is often used to measure the profitability of both crops.
Crop Tour Expecting Record Corn and Soybean Crops
Scouts covered a big portion of the Midwest last week during the annual Pro Farmer Crop Tour and found that record corn and soybean crops could be in store for the upcoming 2020 harvest.
Low-Interest Rates Illuminate Bright Spot for Agriculture
With all of the negative news in the economy this year, Dr. Brent Gloy with Agricultural Economic Insights is focusing on a positive story for agriculture in 2020: low-interest rates.
Phase One Trade Deal Lifting Sorghum Prices Higher
China’s announcement of tariff exclusions following the Phase One agreement had an immediate impact on U.S. sorghum exports.
Banks Reporting Weaker Demand for Second Quarter Loans
As the U.S. economy dove deeper into recession amid the coronavirus pandemic in the second quarter, more than half of banks reported weaker demand for commercial and industrial loans.
Ag Economy Barometer: Long-term Optimism Beginning to Fade
Two-thirds of producers responding to the August Purdue University/CME Group Ag Economy Barometer survey said they believe Congress should provide additional economic assistance to farmers in 2020 to help offset the impact of COVID-19 on agriculture.
U.S. Wheat Receives Parity in New Trade Agreement
As a key component of the new USMCA trade agreement, Canada agreed to allow wheat grown in the United States for import purposes to receive an official Canadian grade as long as the variety was approved in that country.
USDA Extending Crop Insurance Deadlines Due to COVID-19
The USDA is providing policyholders additional time to pay premium and administrative fees and to waive accrual of interest.
Bankers Looking for IRS Clarification on PPP Reporting
As Congress considers another round of stimulus and relief for businesses suffering through the COVID-19 shutdown, the American Bankers Association is asking legislators to make a change in the tax code.
House Approves By Voice-Vote, New Water Development Plan
The House last week approved the Water Resources Development Act of 2020, increasing maintenance and modernization projects on the inland waterway system.
New Five-Year Beef Industry Long Range Plan Approved
Cattle industry leaders laid out their future objectives and priorities last week during the annual Cattle Industry Summer Business Meeting.
USDA Weekly Export Sales Routine Other Than Soybeans
USDA released their latest Weekly Export Sales Report on Thursday. Traders were greeted by lower sales for U.S. wheat, corn and cotton, but the light was brightest for sorghum and soybeans.
Caprock Cattle Educational Series: External Parasites
Floyd and Hale County’s Texas A&M AgriLife Extension Agents are your hosts for a series of talks with experts for the 2020 Caprock Cattle Educational Series.
Farmer Sentiment Remains Stable, Though Well Off Highs
Farmer sentiment was virtually unchanged in July in comparison to a month earlier, according to the latest Purdue University/CME Group Ag Economy Barometer.
Caprock Cattle Educational Series: Livestock Grazing with CRP
Floyd and Hale County’s Texas A&M AgriLife Extension Agents are your hosts for a series of talks with experts for the 2020 Caprock Cattle Educational Series.
How Accurate are Drought Maps in Predicting Yields?
You’ve probably seen the latest drought maps, but do they mean lower crop yields in areas affected by drought?
Midwest Crop Conditions Remain Good, Southern Crops Struggling
Plains Cotton Growers is reporting more than 75 percent of the dryland crop on the High Plains has been abandoned, mainly due to drought.
Caprock Cattle Educational Series: Beef Cattle Vaccinations
Floyd and Hale County’s Texas A&M AgriLife Extension Agents are your hosts for a series of talks with experts for the 2020 Caprock Cattle Educational Series.
If History Repeats, Next Farm Bill Increasing Payments
Since 1973, US farm program payments follow a process of moving from one regime or plateau to another, with the move occurring in a one to two year period.
Advance Estimates Explain Struggling U.S. Economy and GDP
Though there are signs that the economy is improving after being shut down due to COVID-19 concerns, an “advance” estimate from the Bureau of Economic Analysis tells a different tale.
Cattle Industry Agrees to Voluntary Cash Trade Solution
As the cattle industry struggles with how to move forward in light of recent supply chain disruptions and a cash market that is out of whack, some have been looking to the government for direction.
Congress Working Toward Another Round of Financial Assistance
While members of the House are back home for district work this week, members of the Senate have been working towards another round of COVID-19 assistance.
Soy Growers Lauding New Dredging Plan on Mississippi
One popular and efficient path for delivering corn and soybeans from the midwest to foreign buyers is shipment via barge on the nations waterways.
More Hog Operations Forced to Depopulate During COVID-19
The removal, or depopulation, of hogs from farms has distinctly different effects on contract operations and non-contract operations.