The U.S. National Weather Service says that the nation has just experienced the wettest 12 months in the 124 years of the agency’s recordkeeping. Last month was the wettest May on record and the second wettest of all recorded months since 1895. As a result, a wide swath of land is unable to be planted to the principle crop of corn. What is being sown is confusion, much of it with its basis in government policy.
The 1996 Farm Bill is known informally as the “Freedom to Farm Act.” For the first time, the government made direct payments to farmers regardless of what seeds they put into the ground. The concept lost support within two years as weather and the Asian financial crisis wreaked havoc, and the fixed payments prove...
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...