Your Pro Farmer newsletter (Dec. 7, 2024) is now available

Brazil’s soybean crop potential is rising as rains in November allowed planting to accelerate and a strong start to early crop development. Given the drop to record lows in the real versus the dollar, Brazilian farmers are now planning to plant more safrinha corn than previously intended. Global wheat crops continue to face challenges, especially in top exporter Russia, which will cap exports during the second half of 2024-25 at a sharply reduced level to last year. There wasn’t much market response to the U.S. shutting off Mexican cattle imports after the discovery of New World Screwworm near the Guatemala border. A short-term ban on imports wouldn’t have much impact, but any longer restrictions would as the U.S. relies heavily on Mexican feeder cattle, especially given tight domestic calf supplies. On the biofuels policy front, farmers and the industry are still waiting on guidance for the new 45Z credit that will be available in 2025, though that may not come before the changeover in administrations on Jan. 20. President-elect Donald Trump is on a fast track with reforms, as he and his Cabinet want to accelerate fundamental changes via executive orders, deregulation, major congressional measures and threatened tariffs. All would have major impacts on the U.S. ag, energy, trade and economic sectors. We cover all of these items and much more in this week’s newsletter, which you can download here.