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More rain for the Midwest, Delta producers brace for Hurricane Ida. Big jump in Russian wheat export duty. Fed’s annual Jackson Hole Symposium underway. China’s pork imports will rise in 2022.
It expects Canada’s 2021-22 all wheat crop to drop 15.01 MMT (42.7%) from last season to 20.18 MMT.
Reuters is now reporting two of its sources indicate EPA has proposed retroactively lowering the 2020 Renewable Fuel Standard blending obligations in a nod to reduced fuel demand due to the Covid-19 pandemic.
Areas of the Midwest and High Plains received welcome rainfall the week ending Aug. 24, leading to localized drought improvement. But areas that missed out saw drought conditions worsen over the past week.
Sales of old- and new-crop corn were in line with expectations. Soybean sales were strong, as expected, with much of the business known thanks to USDA’s daily reporting system.
Light pressure on corn and soybeans, but wheat bounces back. Bipartisan House bill would promote ethanol use. Philippines approves Golden Rice for commercial use. Beef prices soften for second day in a row.
ERS made upward revisions to its 2021 food inflation forecasts for all food, restaurant and grocery store prices.
Another round of rain for dry areas of the Midwest. House approves budget resolution. Biden said he planned to stick to his Aug. 31 deadline for military withdrawal. Month-plus streak of beef gains comes to an end.
USDA announced today that it is updating the Coronavirus Food Assistance Program 2 (CFAP 2) for contract producers of eligible livestock and poultry and producers of specialty crops and other sales-based commodities.

Meghan Vick

Meghan joined Pro Farmer in June 2011 and is currently the News Editor. Prior to joining the Pro Farmer team, Meghan worked as an editor at Stocks, Futures and Options (SFO) magazine. During her time there she gained her Series 3 license from the National Futures Association. She is a 2009 Summa Cum Laude graduate of Wartburg College in Waverly, Iowa, with Bachelor of Arts degrees in English and writing. LimelightPlayerUtil.initEmbed(‘limelight_player_28855'); At Pro Farmer, Meghan writes many of the daily market commentaries in addition to website news stories and updates on Washington happenings. She also compiles the quarterly Washington Outlook Report.