No big market swings are expected from news coming out of USDA’s Outlook Forum this week. Mark Oppold looks at what is expected in the grain trade.
Price Swings Expected in the Grain Trade
There’s not a lot of good news in the grain trade at this point. Mark Oppold looks at what is currently happening and what is expected over the next few weeks.
Over $4.5M Approved for Florida Farmers Impacted by Hurricane Idalia
(FDACS/TALLAHASSEE, FL/Feb 13, 2024) — Florida Commissioner of Agriculture Wilton Simpson announced that more than $4.5 million has been approved for farmers impacted by Hurricane Idalia through the Florida Department of Agriculture and Consumer Services’ Agriculture and Aquaculture Producers Natural Disaster Recovery Loan Program and the Silviculture Recovery Program. Launched less than one month ago, the two agricultural recovery programs aim to help Florida …
Seeing Highs in Cattle Markets
We have been seeing some highs in both cattle and feeder futures. Mark Oppold has more on that, along with a reminder about the corporate earnings season.
USDA Contributes Millions to Bolster Food Supply Chain
The USDA gives a boost to the food supply chain. That’s coming up on This Land of Ours. Ag Secretary Tom Vilsack announced that the USDA has awarded over $270 million to date through cooperative agreements with state departments of agriculture to build resilience across the middle of the food supply chain and strengthen local and regional food systems. The …
Updating Data Ahead of Outlook Forum
USDA’s Outlook Forum is coming up this week. Mark Oppold looks at how data being compiled may affect the corn and soybeans markets, and also where things stand with quarterly livestock price projections.
CoBank: Lack of Heifers May Limit Milk Production Growth
According to a new report (.pdf) from CoBank, a sharp decline in the number of dairy heifers available to replace older cows exiting the U.S. dairy herd could limit meaningful growth in milk production. The number of dairy replacement heifers has fallen almost 15 percent in the last six years to reach a 20-year low. While the global demand outlook …
Record Income Drop Expected, What Can Farmers Do?
Farmers can expect the largest recorded year-to-year dollar drop in net farm income in 2024. How bad is it, and what can farmers do? That’s coming up on This Land of Ours. Income is estimated to be nearly $40 billion lower this year compared to 2023, down more than 25%. American Farm Bureau Federation economists analyzed the latest USDA data …
Lack of Direction for the Grain Trade
There really aren’t many reports helping with the direction of the grain trade right now. Mark Oppold has more details.
Market Prices, Input Costs, Pushing Expectations Lower
Farmer sentiment took a downturn at the start of 2024 as the January Purdue University-CME Group Ag Economy Barometer Index fell to a reading of 106, eight points below a month earlier. Compared to year-end, producers had a more negative outlook of their farms’ current situation along with a weakened outlook for the future. The Current Conditions Index fell nine …