American Farm Bureau Federation (AFBF) economists says today’s USDA crop forecast is a “harbinger of volatility in global grain markets.” “There is an old saying in commodity markets that small crops tend to get smaller,” said AFBF economist Todd Davis. “If this holds true, then future reports will show declining projected production for corn and soybeans and further reductions in …
USDA: Corn Down 13%, Soybeans Down 12%
The drought is certainly taking its toll on row crops, as the latest USDA crop report out this morning shows that the corn harvest this year will be down 13 percent from last year’s numbers, with soybeans expected to be 12 percent lower than 2011. Meanwhile, cotton will see a 13 percent increase while winter wheat should be up 1 …
Senator and Secretary Attend Biobased Workshop
Senator Debbie Stabenow (D-MI) and Agriculture Secretary Tom Vilsack were keynote speakers at the 2012 United Soybean Board Biobased Products Stakeholders’ Workshop at the Ford Research and Innovation Center in Dearborn, Michigan this week to show their strong support for new products made from agricultural commodities. “I think the sky’s the limit,” said Sen. Stabenow. “I don’t believe you have …
Senators Celebrate “Meat Mondays”
The offices of U.S. Senators John Cornyn (R-TX) and Chuck Grassley (R-IA) today celebrated ‘Meat Monday’ with barbeque beef brisket, ribs, and sausage from Hill Country BBQ restaurant. For the senators from beef producing states, it was a response to last week’s USDA employee newsletter promoting “Meatless Mondays” that was accidentally approved and put on line, and subsequently removed but …
USDA Apologizes for Meatless Mondays Gaffe
After an internal USDA newsletter promoting “Meatless Mondays” was made public Wednesday, Agriculture Secretary Tom Vilsack personally apologized to the president of the National Cattlemen’s Beef Association and said the document was not only pulled from the website, it was edited and re-sent to USDA employees without suggestions that meat production was bad for the environment and human health. “We …
USDA “Meatless Mondays” Uproar
An internal USDA Greening Update newsletter that promotes “Meatless Mondays” caused a bit of an uproar on Wednesday. The National Cattlemen’s Beef Association (NCBA) sent out a news release linking to the newsletter and questioning USDA’s commitment to the livestock industry. The newsletter talked about various “greening” initiatives by the agency and suggested that “one simple way to reduce our …
USDA Announces More Drought Aid for Farmers
Following President Obama’s directive last week to take additional steps to support struggling producers, Secretary of Agriculture Tom Vilsack today announced new measures that will help livestock and crop farmers in drought-stricken areas of the country. Vilsack announced new flexibility and assistance in USDA conservation programs to get help to livestock producers as the most wide-spread drought in seven decades …
Drop in USDA Estimates Talk of Wyffels Event
Some significant drops in USDA’s expected corn and soybean yields due to the drought have been the talk of the recent Wyffels Hybrids Corn Strategies event. “USDA took 20 bushels off of its yield, end of July, and dropping the soybean yield down to 40 and a half bushels… that makes a huge statement, and USDA probably thinks it’s smaller …
Drought Drawing National Attention
The widespread drought is now garnering national attention, with Secretary of Agriculture Tom Vilsack today meeting with President Obama on the situation and giving a press briefing at the White House. Calling it the “most serious situation we’ve had in 25 years,” Secretary Vilsack said the president is fully informed about the damage being inflicted by the weather on crops …
Corn Crop is in Worst Condition Since 1988
Drought conditions in the Midwest are “almost historic” with 38 percent of the nation’s corn crop now rated poor to very poor, according to USDA Meteorologist Brad Rippey. “That 38% represents the highest amount of U.S. corn rated poor to very poor since the end of the 1988 growing season,” said Rippey. “We now see in 13 of the 18 …