Did you miss some news this week? We’ve got you covered. Here’s a collection of the top headlines in agriculture.
USDA releases March WASDE data
Despite hopes for smaller Brazilian corn and soybean crops, USDA only made minor cuts to Brazil’s 2023/24 soybean crop in Friday’s report while adding volume to anticipated Brazilian soybean exports. A big increase in Chinese soybean import volumes added support to new crop soybean futures and will largely consume the additional Brazilian exportable supplies reported. – Farm Futures
Texas wildfires not expected to affect cattle prices
The recent Texas Panhandle wildfires have caused significant cattle losses for individual ranchers, but they should not impact beef cattle markets or consumers. Texas A&M AgriLife Extension economist David Anderson says it may be weeks before there are estimates for lost cattle, but he expects the impact of the wildfire to be localized. Texas Agriculture Commissioner Sid Miller says that over 6,000 cattle are already estimated to be lost. – Feedstuffs
Bayer isn’t splitting up, for now
Bayer is keeping its three core businesses under one roof – a decision likely to ruffle some of the company’s investors. Bayer CEO Bill Anderson announced Tuesday that executives are carefully reviewing the structure of the company. Executives considered a split during a broader strategic review, but concluded it would take too many resources without fixing underlying issues. – Agriculture Dive
Farmland prices leave young producers frustrated
Young farmers and ranchers are expressing frustration over being locked out of the land market. Is there a right time to buy when the numbers just don’t seem to make sense? David Kohl explains how land investment is a marathon, and it rarely cash flows from the farm profits generated on the land. Still agricultural land is a good investment over time. – Corn + Soybean Digest
Valero joins carbon pipeline project
No. 2 corn ethanol maker Valero Energy Corp. has agreed to transport greenhouse gas pollution from eight of its facilities on Summit Carbon Solutions LLC’s proposed $8 billion pipeline. The agreement comes after Poet LLC, the world’s largest biofuel producer, signed onto the project earlier this year. – Bloomberg
2024 General CRP signup now open
Agricultural producers and private landowners can sign up for General CRP now through March 29, 2024. Landowners and producers interested in CRP should contact their local USDA Service Center to learn more or to apply for the program before their deadlines. Continuous CRP offers can be submitted to the Farm Service Agency through July 31, 2024. – USDA
Farmer sentiment up despite financial concerns
The Ag Economy Barometer rose five points in February to a reading of 111. Although farmers’ expectations for the future improved in February, their financial performance expectations did not. When asked about their biggest concerns for their farm operation in the upcoming year, producers continued to point to high input costs and lower crop/livestock prices. – Purdue University-CME Group
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