USDA is making another $300 million available to U.S. agricultural export marketers under the Regional Agricultural Promotion Program (RAPP). The program was launched in 2023 with $1.2 billion from the Commodity Credit Corporation and is in addition to other cost-share export assistance efforts. Farm groups complain that the strong dollar is hurting overseas sales, though the data is less clear on that point. Based on data from USDA’s Economic Research Service, during the period 2001-2013 when the dollar was depreciating over 21 percent, U.S. agricultural export value rose 150 percent and there was a -0.9 correlation.
The agency has become more precise in its analysis and now delineates the dollar’s exchang...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
