The Administration is asking Congress for $33 billion to address food shortages caused by the war in Ukraine and to assist Ukraine. Of that total, $500 million will go toward making temporary changes to farm bill programs for the remaining two years of its authorization. Provisions include:
$400 million for higher marketing loan rates for crops typically in food aid packages – wheat, rice, pulses, soybeans, sunflower, and canola; marketing loans would be extended to 12 months from their current 9; and $100 million for crop insurance incentives at $10 per acre to incentivize double cropping soybeans planted after a winter wheat in 2023 to increase winter wheat production.
USDA’s rationale is that extend...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
