Farm Progress

7 ag stories you can’t miss – March 9, 2024

Catch up on USDA’s March WASDE data, Texas wildfire aftermath, the latest carbon pipeline agreement and more!

Rachel Schutte, Content Producer

March 9, 2024

3 Min Read
7 ag stories you can't miss
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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

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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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About the Author(s)

Rachel Schutte

Content Producer, Farm Futures

Rachel grew up in central Wisconsin and earned a B.S. in soil and crop science from the University of Wisconsin - Platteville. Before joining the Farm Futures team, Rachel spent time in the field as an agronomist before transitioning to the world of marketing and communications. She now resides in northeast Iowa where she enjoys raising bottle calves and farming corn and soybeans alongside her husband and his family.

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