Your Pro Farmer newsletter (Dec. 14, 2024) is now available

USDA slashed 2024-25 corn ending stocks 200 million bu. in the December Supply & Demand Report, which triggered an initial bullish reaction, though futures were unable to clear the October highs and retreated. The only other surprise in the report was an unexpected increase to the cotton crop estimate, which pushed up ending stocks. Efforts to extend the 2018 Farm Bill and provide financial aid to farmers have hit a political snag. Lawmakers are now exploring passing a clean, one-year 2018 Farm Bill extension and incorporating emergency economic aid for farmers in a separate disaster aid package. There was a lot of economic news, as China pledged monetary policy easing and fiscal stimulus to boost its economy. Chinese officials are also considering letting the yuan weaken to counter expected tariffs from the Trump administration. U.S. consumer and producer prices increased in November, though economists still expect the Fed to cut interest rates another 25 basis points following the Dec. 17-18 monetary policy meeting. We cover all of these items and much more in this week’s newsletter, which you can download here.