“Reports indicate much of this week’s heavy rains was immediately absorbed by the severely dry soils, with no runoff into empty dugouts or ponds,” according to today’s Drought Monitor Summary.
China bought a total of 5.812 MMT of corn the week ending May 20, with 5.644 MMT of those purchases being new-crop.
Argentina’s port strike came to an early end. USDA hiked its ag export forecast, reminding of China’s aggressive buys and the Phase 1 trade deal. USTR Tai talked with her Chinese counterpart yesterday.
Argentine port workers launched another 48-hour strike at midnight as they continue to push to be designated essential workers so they can receive Covid-19 vaccines.
FSA will invest $10 million to measure and monitor the soil carbon sequestration and other climate and environmental benefits of conservation practices over the life of CRP contracts
Corn struggled to rebound overnight. Meanwhile, another strike is underway in Argentina and China took more steps to tighten its control on commodities.
The all-items consumer price index climbed 0.8% from March to April, with the gauge of economy-wide inflation now up 4.2% from year-ago levels, according to USDA’s Economic Research Service.
Ceres Global Ag Corp. today announced it will build a $350 million canola crushing facility in Northgate, Saskatchewan, which is near Canada’s border with the U.S.
Start your day with this concise recap of key ag news.
Dr. Dermot Hayes says even with possible mandatory overtime to compensate for lost capacity, the industry will lose 2.5% of overall harvest capacity if the ruling stands, with small producers likely to be hardest-hit.

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.