Corn will drive the commodity markets, soybeans will help to make things interesting, and there’s always the chance of a margin squeeze next year, predicts Todd Davis, senior economist with the American Farm Bureau....More
At a recent meeting organized by the U.S. Chamber of Commerce, Ambassador Roberto Azevedo, Brazil’s permanent representative to the WTO and chief negotiator, said that after two days of discussions with U.S. officials, there has been no progress in resolving the longstanding WTO case against cotton and export credit guarantees....More
In the absence of two critical issues, farm bill commodity programs would make little sense. Issue one: crop production can change considerably from year to year due to weather and disease, and issue two: over the long-haul supply increases faster than demand....More
The short-term outlook for Upland cotton prices is for a continuation in the mid 70-cent range per pound, according to Jarral Neeper, president and chief executive officer of the Calcot marketing cooperative based in Bakersfield, Calif....More
Petroleum prices should remain high for the foreseeable future, while natural gas prices should remain low and electricity prices are likely to increase slowly. Demand is likely to remain high for nitrogen, potash and phosphorus fertilizers, but production costs will have much less impact than commodity prices...More
The U.S. Department of Agriculture has announced that the National Agricultural Statistics Service (NASS) and World Agricultural Outlook Board (WAOB) will begin issuing several major USDA statistical reports at 12:00 p.m. EDT beginning in Jan. 2013....More
The United States is narrowing the gap between what it buys from other countries and what it sells overseas, says Ambassador Islam Siddiqui, chief agricultural negotiator at the Office of the U.S. Trade Representative.
“And agriculture is leading the way,” Siddiqui said at the recent Southwest Ag Issues Summit in Austin....More
Some wood may need knocking on here, but a USDA Foreign Agricultural Service spokesman expects commodity prices to remain at historically high levels for the next decade.
Michael Dwyer, director of the FAS Global Policy Analysis Division, says “things never looked so good—if you have a crop to sell,” this year. “If realized, 2012 will be another record setting year for all measures of farm income.”...More
China is still dominating the news behind the world cotton market, but large supplies, falling demand and competing commodities are increasingly important factors to watch, says Gary Adams, the National Cotton Council....More
The pace of consumption of U.S. corn has been slowing, as evidenced by small weekly exports, smaller weekly estimates of ethanol production, declining cattle feedlot placements, and increased slaughter of dairy cows and the hog breeding herd....More
Although Brazil is struggling with various concepts of the STAX plan, which could be a key component for cotton in a future farm bill, they are showing a willingness to work with it to resolve subsidy disputes....More
Reflecting the market impacts of widespread drought and high temperatures during the growing season, large increases in the value of this year's crop and crop insurance indemnity payments have more than offset declining milk sales and rising production expenditures....More