U.S. farmers in a class action lawsuit are seeking approval of a settlement agreement with Syngenta. Court records show the class action lawsuit is seeking court approval for a record $1.51 billion settlement with Syngenta. The lawsuit includes farmers, grain handlers and ethanol plants nationwide that sold corn after September 15, 2013. Reuters reports that lawyers for the plaintiffs said …
Progeny Bringing the Best Possible Products to Your Farm
Progeny. That’s the name of innovative, high-performing seed products. And they do it all with one goal in mind: to bring the best possible products to your farm. And when it comes to corn seed, Progeny Agronomist John Rocconi says they recently received some great news about one of their hybrids. Progeny Bringing the Best Possible Products to Your Farm …
USDA Report Indicates Increased Corn Demand
The Department of Agriculture (USDA) has increased corn demand in it’s latest forecast for the 2017-18 crop year. The monthly World Agriculture Supply and Demand report increased exports of corn by 175 million bushels to 2.2 billion bushels based on price competitiveness, and increased expected corn ethanol use by 50 million bushels to 5.5 billion bushels. The average price for …
New Study: RIN Price Cap for E15 RVP Waiver “Deal” Would Cut Ethanol Consumption and Trounce Corn Prices
Any action to artificially cap Renewable Identification Number (RIN) prices in exchange for an RVP waiver allowing year-round sale of E15 would be bad deal for rural America and the nation’s consumers, according to a new economic analysis released Tuesday. Such a tradeoff would result in reduced ethanol consumption, a drop in corn prices, and an effective cut of 5% …
USDA Releases 2018 Planting Estimates
While some planters are already working in Texas, the Corn Belt seems a long way away from planting because of snow and ice. However, the U.S. Department of Agriculture (USDA) is already thinking about planting. During the Agricultural Outlook Forum in Arlington, Virginia, the USDA released its acreage estimates for 2018. The USDA says corn and soybean acres will be …
Mexico Buying More Brazilian Corn as NAFTA Negotiations Continue
Mexico purchased ten times more corn from Brazil last year than it had previously. Reuters says that’s due to the uncertainty regarding the potential outcome of the North American Free Trade Agreement (NAFTA) negotiations. Mexican government data and top grain merchants all say they fear supply disruption from the U.S. if the White House ever followed through on its threat …
NCGA Responds to Cruz Speech on RFS
The following is a statement from North Dakota farmer Kevin Skunes, president of the National Corn Growers Association (NCGA), in response to Senator Cruz’s remarks during the Philadelphia refinery (PES) town hall. “While most refiners are reporting double digit profit increases, Philadelphia Energy Solutions has filed for bankruptcy protection because its investors put their interests ahead of their workers’ interests. …
USDA February WASDE Report
The latest monthly World Agriculture Supply and Demand Estimates (WASDE) report from the Department of Agriculture shows lower estimated soybean exports for the 2017-18 crop year. USDA lowered soybean exports by 60 million bushels to 2.1 billion bushels. The U.S. season-average soybean price range for 2017/18 is projected at $8.90 to $9.70 per bushel, unchanged from the previous report. USDA …
CME Group Mulling Changes to Corn and Soy Contracts
CME Group is mulling potential changes to corn and soybean markets to address concerns the contracts’ prices are not accurately reflecting the underlying U.S. cash grain markets. Reuters reports that CME Group says it is “only in listening mode,” and that no changes are permanent. CME Group has been talking with customers about potential adjustments, as the discussions signal a …
Cornyn Drawing Up RFS Overhaul Legislation
Texas Republican John Cornyn is drawing up legislation to overhaul the Renewable Fuels Standard. It’s his attempt to end the disagreement between corn-state lawmakers and oil-patch legislators. Cornyn’s office has been hosting talks for several months on altering the nation’s biofuels program and come up with a variety of policy ideas, although they haven’t narrowed down any of the choices …