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Several attendees in the virtual meeting noted that U.S. corn yield has landed below USDA’s trend yield for five consecutive years now, prompting questions as to whether the calculation will be revisited for future seasons. The market’s main grievance with the recent yield pattern is that negative price implications could arise if trend yield starts out too high, since it may cause U.S. corn supplies to be overstated early on. Trend yield is set forth by USDA’s World Board and is based off a publicly documented model written in 2012. They also suggested that consecutive bad weather years can skew the view of true trend yield. In the last five years including 2023, corn yield fell below trend in each year and by an average of 6.1 bpa (3.4%).
Persons: Daniel Acker, Karen Braun, Marguerita Choy Organizations: REUTERS, Rights, U.S . Department, USDA’s, Agency, USDA, Reuters, Thomson Locations: Tiskilwa , Illinois, U.S, Rights NAPERVILLE , Illinois
National Oilseed Processors Association (NOPA) data on Monday revealed U.S. soybean oil stocks among NOPA members totaled 1.108 billion pounds as of Sept. 30. A mid-year drawdown of U.S. soyoil stocks is common, but this year’s pace is unusual. The U.S. Department of Agriculture projects total domestic soybean oil use at a record 27.45 billion pounds in 2023-24, which began Oct. 1. The most actively traded Chicago soybean oil futures are at three-year lows for the date, down 20% from a year ago. Most-active CBOT soybean oil futuresRISING IMPORTSU.S. soybean oil stocks may be falling, but both the reduction in exports and influx of vegetable oil from overseas have been somewhat offsetting.
Persons: Jason Lee, Stocks, Karen Braun, Miral Organizations: Industry, Trade Co, REUTERS, Rights, Oilseed Processors, U.S . Department of Agriculture, NOPA, U.S, Higher, USDA, Reuters, Thomson Locations: Qufu, Shandong province, China, Rights NAPERVILLE , Illinois, U.S, Chicago, United States, USDA
Northrup is a subsidiary of Syngenta Seeds, which is owned by China National Chemical Company, or ChemChina, a Chinese state-owned company. Concern has been growing in many states about foreign ownership of farmland. Prior to this year, 14 states had laws prohibiting or restricting foreign ownership and investments in private farmland. Under the Arkansas law, if a company doesn’t divest of the land, the state can take action in court. The surge in state laws targeting land ownership by certain foreigners represents a “a political flashpoint” that Brown says stems from some highly publicized cases of Chinese-connected entities purchasing land near military bases in North Dakota and Texas.
Persons: Tim Griffin, Northrup King, Sarah Huckabee Sanders, Northrup, ” Sanders, Griffin, Syngenta, Micah Brown, , Brown, David Lieb Organizations: , Northrup King Seed, Republican, GOP Gov, Syngenta, China National Chemical Company, National Agriculture Law Center, University of Arkansas, U.S . Department of Agriculture, Associated Locations: — Arkansas, Craighead County, Arkansas, China, Iran, North Korea, Russia, North Dakota, Texas, Jefferson City , Missouri
CHICAGO, Oct 17 (Reuters) - Arkansas ordered Syngenta to sell 160 acres (65 hectares) of farmland in the U.S. state within two years on Tuesday because the company is Chinese-owned, drawing a sharp rebuke from the global seeds producer. U.S. farm groups and lawmakers are increasingly scrutinizing foreign land ownership due to concerns about national security. "Our people in Arkansas are Americans led by Americans who care deeply about serving Arkansas farmers," Das said. The state also fined Syngenta $280,000 for failure to report foreign ownership in a timely manner. "All Syngenta land holdings have been examined by the U.S. government, through two administrations, as Syngenta was transitioning to ChemChina ownership," Das said.
Persons: Syngenta, Sarah Huckabee Sanders, Saswato Das, Das, Tim Griffin, Griffin, Northrup, Huckabee Sanders, Tom Polansek, Jonathan Oatis Organizations: BASF, Bayer, Sinochem Holdings Corp, Northrup King Seed, Syngenta, U.S . Department of Agriculture, U.S ., Thomson Locations: Arkansas, U.S, Craighead County, China, ChemChina, Shanghai
During that week, money managers cut their net short in CBOT corn futures and options to 112,691 contracts from 159,433 a week earlier, marking their biggest round of net buying since late July. Managed money net position in CBOT corn futures and optionsDecember corn futures had reached their U.S. harvest lows by mid-September in 2016, 2018 and 2019, and so far, the harvest low for December 2023 corn sits on Sept. 19 at $4.67-3/4 per bushel. Money managers have not held a bearish soy view since April 2020 but have come close a couple times. Managed money net position in CBOT soybean futures and optionsHowever, overall speculators’ soybean net short was preserved through Oct. 10 as other reportable traders were only slight net buyers during the week. That small net short was established in the prior week for the first time since March 2020.
Persons: Gleb Garanich, Wheat, Karen Braun, Deepa Babington Organizations: REUTERS, Rights, U.S ., U.S . Department, Agriculture’s, USDA, U.S . Renewable, Reuters, Thomson Locations: Bilohiria, Khmelnytskyi, Ukraine, Rights NAPERVILLE , Illinois, Chicago
1 corn exporter to Brazil last year when the South American country harvested a breakthrough crop, just months after China gave the green light to Brazilian corn imports. The U.S. Department of Agriculture on Thursday maintained 2023-24 Brazilian corn production at 129 million metric tons, identical to the initial May projection. Conab predicts Brazil’s second corn harvest, which supplies the country's exports, could fall nearly 11% on the year to 91.2 million tons. China, like the United States, is winding down its 2023-24 corn harvest. On an October-September basis, USDA sees 2023-24 Brazilian corn exports at 59 million tons versus 53.7 million in 2022-23, and U.S. shipments are pegged at 52.5 million tons in 2023-24 versus 43 million in 2022-23.
Persons: Farmer Roger Hadley, John Deere, Bing Guan, Conab, Brazil Karen Braun, Karen Braun, Matthew Lewis Organizations: REUTERS, Rights, United, U.S . Department of Agriculture, El, USDA, U.S, USA, Brazil, Reuters, Thomson Locations: Woodburn , Indiana, U.S, Rights NAPERVILLE , Illinois, United States, Brazil, China, USDA, Northern, Southern, Mexico, Japan
ORLANDO, Fla. (AP) — The forecast for Florida citrus, the state’s signature crop, is expected to improve in the upcoming season compared to last year when twin hurricanes battered the state at the start of the citrus season, according to estimates released Thursday. Florida is expected to produce 20.5 million boxes of oranges during the upcoming season, up from 15.8 million boxes last season, according to the U.S. Department of Agriculture. Florida growers are expected to harvest 1.9 million boxes of grapefruit during the 2023-2024 season, which lasts through next spring, up from 1.8 million boxes last season. The harvest was 41.2 million boxes in 2021-2022 and more than 52.9 million the season before that. Even before the hurricanes, citrus production had been on a downward trajectory because of ongoing disease problems.
Persons: mandarins, Hurricanes Ian, Nicole Organizations: U.S . Department of Agriculture, Hurricanes, Sunshine State Locations: ORLANDO, Fla, Florida, U.S, California
Changes in the climate and land use are combining to dramatically shrink the numbers of insects pollinating key tropical crops. As those problems interwine and intensify, it likely will hit coffee lovers right in the mug, according to a new study. Study authors said bees, flies, moths and other pollinators are being hit harder than the general insect population. Those plants rely on bees and flies to help them reproduce and fewer pollinators mean reduced crops, study authors said. “There will be this double hit of climate change impacting coffee itself, the coffee plants, but also impacting the pollinators on which it depends so that’s quite worrying for those of us who like coffee,” Newbold said.
Persons: Tim Newbold, ” Newbold, Joe Millard, haven’t, Douglas Tallamy, “ We’re, Tallamy, , Millard, Newbold, Delaware’s, Read, Seth Borenstein Organizations: University College of London, U.S . Department of Agriculture, University of Delaware, Twitter, AP Locations: China, India, Indonesia, Brazil, Philippines, Saharan Africa, London
How U.S. soybeans influence global economics
  + stars: | 2023-10-12 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com   time to read: +3 min
"Soybeans are kind of that wonder crop that has amazing capabilities" Arlan Suderman, chief commodities economist at StoneX, told CNBC. "The average soybean production in our county 40 years ago, in 1980, was 31 bushels. The global soybean market exploded in recent years with U.S. production at the forefront. However, the U.S. has since lost its dominance, in part, thanks to its reliance on a single export market: China. According to data from the USDA, about half of the value of U.S. soybean exports head to China.
Persons: Himanshu Gupta, ClimateAI, Suderman, wasn't, Meagan Kaiser, Joe Janzen, Janzen, Kaiser Organizations: National Oilseed Processors Association, United, CNBC, U.S . Department of Agriculture, University of Illinois Locations: U.S, China, Brazil, Argentina
MINNEAPOLIS (AP) — Highly pathogenic bird flu has made its first appearances in U.S. commercial poultry flocks this season, affecting one turkey farm in South Dakota and one in Utah. The outbreaks are the first reported among commercial flocks in the U.S. since the disease struck two turkey farms in the Dakotas in April. While wild birds often show no symptoms of avian influenza, infections in them are a concern to the poultry industry because migrating birds can spread the disease to vulnerable commercial flocks. South Dakota producers lost nearly 4 million birds last year. Iowa, the hardest-hit state, with nearly 16 million birds lost, hasn't recorded a case since March.
Persons: , Bailee Woolstenhulme, Woolstenhulme, hasn't Organizations: The U.S . Department of Agriculture, Dakotas, Agriculture, Utah Department of Agriculture, Food Locations: MINNEAPOLIS, South Dakota, Utah, The, Jerauld County, Sanpete, U.S, Cambodia, Europe, Dakota, Iowa
In the week ended Oct. 3, money managers slashed their net long position in CBOT soybean futures and options to 5,001 contracts from 30,058 a week earlier. New shorts and exiting longs both played a role, and money managers have not held a net short in beans since April 2020. Money managers extended their sizable net short in CBOT wheat futures and options to 98,788 contracts from 96,384 a week earlier. CBOT corn futures added about 1% late last week, touching $4.99 per bushel on Friday, their highest since Aug. 29. Money managers maintain comfortably bearish CBOT corn views, though they trimmed their net short through Oct. 3 by about 9,200 to 159,433 futures and options contracts.
Persons: , Soymeal, Karen Braun Organizations: China, Futures, U.S . Department, Reuters, Thomson Locations: NAPERVILLE , Illinois, Chicago, U.S
Although China’s interest has declined, other U.S. corn export demand has been better than a year ago. USDA predicts 2023-24 U.S. corn exports to rise 23% on the year to 52.1 million tons (2.05 billion bushels). Total U.S. corn export sales for 2023-24 minus those to China are almost 40% higher than at the same point a year ago. Corn sales were closer to average over that same time frame, but both corn and soy are being limited by Brazil’s rising presence. Brazilian corn and soybean exportsIn the first eight months of 2023, some 18% of Brazil’s corn exports went to China compared with none in the previous years.
Persons: Rio, corn’s, Karen Braun, Rod Nickel Organizations: Lucas, U.S . Department of Agriculture, U.S, USDA, Reuters, Thomson Locations: Mato Grosso, Brazil, NAPERVILLE , Illinois, China, U.S, Mexico, United States
CHICAGO (Reuters) - The U.S. has detected its first case of avian flu on a commercial poultry farm since April, in a flock of 47,300 turkeys in Jerauld County, South Dakota, the U.S. Department of Agriculture (USDA) said. Infected flocks are culled to prevent the spread of the virus, potentially tightening the poultry meat and egg supply if more cases occur. Wild birds like ducks transmit the virus. Prior to this week's outbreak, U.S. infections were limited to live bird markets and "non-poultry" birds since April, USDA records show. The last commercial farms infected in April raised turkeys in South Dakota and North Dakota, records show.
Persons: Tom Polansek, Bill Berkrot Organizations: CHICAGO, U.S, U.S . Department of Agriculture, USDA, Farmers, Maine Foods Locations: Jerauld County, South Dakota, Cal, Maine, U.S, North Dakota
Rather, it is developing a project that handles throwaway biomass from forest thinning for the U.S. Forest Service. The article, entitled “Bill Gates Pushes Plan to Chop Down 70 Million Acres of Trees to ‘Fight Global Warming,’” was published on a website called Slay on Aug. 31. “Our company is developing technology to help public agencies like the US Forest Service, stewardship non-profits, and private landowners meet their wildfire mitigation and forest thinning goals," he said. Kodama Systems, a company that received funding from a fund owned by Bill Gates, is not planning to cut down millions of acres of U.S. forests. The company has received a grant from the U.S. Forest Service for a project to handle throwaway biomass from forest thinning.
Persons: Bill Gates, , Slay, Scott Owen, Owen, ” Owen, Robert York, KODAMA, James Sedlak, Read Organizations: Systems, U.S . Forest Service, Kodama Systems, Microsoft, Breakthrough Energy Ventures, Western, U.S . Department of Agriculture, USFS, Department of Interior, Berkeley Forests, UC Berkeley, Oregon State University, University of Melbourne, Kodama, US Forest Service, Reuters, Thomson Locations: U.S, Western United States, California
Higher chicken prices should improve earnings at top producers Tyson (TSN.N) and Pilgrim's Pride (PPC.O), but will pinch consumers' pockets as they try to save money by turning away from higher-end proteins. Arkansas-based Tyson, which sells all three types of meat, had to deal with a glut of chicken after earning massive profits when meat prices soared during the COVID-19 pandemic. The U.S. government last month trimmed its estimate for 2023 chicken production from August due in part to expectations for lower chick placements. "We've seen some recovery in chicken prices and we've seen some consumer prices start to level off," Tyson CFO John R. Tyson told investors last month. Further increases in chicken prices could threaten demand, said Adam Speck, senior commodity analyst for Gro Intelligence.
Persons: Lucas Jackson, Tyson, Bob Brown, Brown, Donnie King, Arun Sundaram, Sundaram, We've, John R, Adam Speck, Bill Densmore, Tom Polansek, Caroline Stauffer, David Gregorio Our Organizations: New York U.S, REUTERS, Rights, Tyson Foods, U.S . Department of Agriculture, Rabobank, Producers, CFRA Research, Gro Intelligence, Fitch, Thomson Locations: Brooklyn, New, Arkansas, U.S, freezers ., Wilkesboro , North Carolina, Great
Large U.S. wheat purchases by China have been rare. The last daily U.S. wheat sale to China was in July 2021, also soft red winter wheat, and twin sales of hard red spring and hard red winter wheat were confirmed in July 2020. China’s recent U.S. wheat purchase was not a one-off, as it secured up to 600,000 tons of French wheat three weeks ago. China has been a top-three global wheat importer in the last few years, but those imports account for a very small fraction of annual Chinese wheat consumption. A decline in world wheat prices would amplify this effect.
Persons: Karen Braun, Rod Nickel Organizations: U.S . Department of Agriculture, USDA, Russia, Reuters, Thomson Locations: NAPERVILLE , Illinois, China, U.S, States, Ukraine, Russia
Timeline of Racial Wealth Gap
  + stars: | 2023-10-04 | by ( ) www.reuters.com   time to read: +8 min
Policies and practices that have disadvantaged Black Americans generation after generation help explain the racial wealth gap. Black veterans find it much harder to obtain benefits; one study finds Black claimants were twice as likely to have their applications queried. 1877Southern states begin enacting “Jim Crow” laws, which formalize racial segregation. The laws restrict civil liberties and limit job opportunities for Black people as employers relegate Black workers to lower-skilled roles. 1896The U.S. Supreme Court rules in Plessy v Ferguson that racial segregation is permissible.
Persons: Black, vagrancy, Union General William Tecumseh Sherman, Andrew Johnson, Jim Crow, Ferguson, Henry Ford, Woodrow Wilson, Smith, Bankhead Organizations: Civil, Union, Bureau, American Medical Association, Prudential, Companies, Black, American Federation of Labor, U.S, Supreme, Plessy, U.S . Department of Agriculture, U.S . Constitution, National Association of Real, Owners Loan Corporation, U.S . Commission, Housing Administration, Federal Housing Administration Locations: U.S, Southern, Black, Louisville , Kentucky, U.S ., Tulsa , Oklahoma, Los Angeles, Chicago, Levittown, New York’s
More and more governments have been looking at vaccination as a way to contain the highly contagious bird flu. However, trade barriers such vaccination can prompt have made large poultry exporters reluctant to inoculate their birds. The United States triggered restrictions on imports of French poultry beginning Oct. 1, citing a risk of introducing the virus into the country. Despite intensive talks, Japan was also still reluctant to accept French poultry after vaccination, Fesneau said. Bird flu vaccination in France is initially limited to ducks, which are the most vulnerable to the virus and accounted for only 8% of total French poultry production in 2022.
Persons: Marc Fesneau, Fesneau, CIFOG, Sybille de La, Emelia Sithole Organizations: U.S . Department of Agriculture, Thomson Locations: France, United States, Landes, Japan
This marks their biggest net short in corn since August 2020, and it nearly ties 2016 for the date's most bearish corn view. The move went against expectations for slight fund buying, as most-active CBOT corn futures had drifted fractionally higher for the week. Funds maintained their huge net short in CBOT wheat futures and options, which is the second largest for the time of year after 2016. CONTINUED SELLINGFriday marked several milestones for CBOT grain and oilseed futures, the most significant being a 6.4% dive in CBOT wheat futures, the biggest single-day decline since March 2022. Sept. 1 U.S. soybean stocks were above expectations but similar to the past two years, though soybean futures hit three-month lows on Friday.
Persons: Raquel Cunha, Friday’s, soyoil, Karen Braun, Sonali Paul Organizations: REUTERS, Rights, Funds, U.S . Department of Agriculture, Reuters, Thomson Locations: U.S, Tepexpan, Mexico, Rights NAPERVILLE , Illinois, Chicago, Kansas City, Minneapolis, Kansas
Grain prices have been in freefall of late as investors bet on a resurgence of supply from the U.S., Russia and Ukraine — but veteran strategist David Roche disagrees. Contrary to market consensus, Roche, president and global strategist at Independent Strategy, expects a 13-15% annual increase in wheat prices over the next two years. His comments come as wheat prices remain down around 29% year-to-date and at their lowest levels since September 2020, with short positions — bets that prices will fall — recently hitting a three-month high, according to a report from Independent Strategy. Corn prices are also trading around three-year lows while soybeans recently notched a four-year low. Meanwhile Russia, the world's largest grain exporter, has also produced large harvests which analysts expect to get through export blockades.
Persons: David Roche, Roche, CNBC's, we've Organizations: Independent, El Nino, U.S . Department of Agriculture Locations: Kramatorsk, Donetsk region, Ukraine, U.S, Russia, Mississippi
In May, staff at the Beltsville Agricultural Research Center in Beltsville, Maryland, filed a complaint with the U.S. Office of the Special Counsel (OSC), which protects federal whistleblowers, alleging mismanagement and unsafe work conditions including poor lab ventilation, broken fire alarms and wild temperature swings. After Reuters exclusively reported the complaint, USDA closed one major research building at the site for repairs. Maintenance tasks should be performed on a schedule ranging from daily to annually, the complaint said. BARC staff conduct research on climate change, invasive pests, crop yields and more. Reporting by Leah Douglas; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.
Persons: BARC, Leah Douglas, Cynthia Osterman Organizations: U.S . Department of Agriculture’s, Research, Staff, U.S . Department, Reuters, Agricultural Research, U.S . Office, USDA, OSC, Occupational Safety, Health Administration, Centers for Disease Control, OSHA, Thomson Locations: Beltsville, Beltsville , Maryland, Legionella, BARC's
Arizona’s governor was out of the state for a day this week, prompting false claims that she’d abruptly resigned or vanished entirely. The Democrat, who has been the target of misinformation since taking office this year, was out of state for meetings in Washington for a day, so the state treasurer briefly served as acting governor. Political Cartoons View All 1190 Images“She has now stepped down as Arizona governor, and it’s raising questions,” claimed one Facebook user in a widely shared video posted on Thursday. “Republican State Treasurer Kimberly Yee is currently the Acting Governor,” wrote another user on X, the social media platform formerly known as Twitter on Wednesday. The usually unremarkable handover gained attention when Yee released a statement Wednesday acknowledging she’d be serving as acting governor from that evening through Thursday morning.
Persons: she’d, Katie Hobbs, Hobbs, Joe Biden, , Kimberly Yee, , Christian Slater, Yee, hasn’t, Slater, Alejandro Mayorkas, Sen, John McCain, Adrian Fontes, Kyrsten Sinema, Paul Smith, Leonard, Kris Mayes, Richie Taylor, baselessly, ” Slater Organizations: Arizona, Democrat, “ Republican, Twitter, Democratic, Republican, U.S . Homeland, Tempe Center, Arts, of Regents, U.S, Sen, Infrastructure Security Agency, White House, Drug, Agency, U.S . Department of Agriculture, Kroger Locations: Washington, Arizona, U.S, Flagstaff
Orange juice is the latest item to succumb to higher prices at the grocery store, with futures on the commodity good reaching an all-time high this week. Future prices for the breakfast staple have been steadily climbing over the past few months, hitting a record high of $3.69 per pound Tuesday morning. With the price hike, the juice joins other major grocery store items facing high prices even as inflation slows, including raw sugar and cocoa. The drink's price has shot up due to hurricanes and bad weather that slammed Florida — the main producer of orange juice for the U.S. — last year, which reduced the crop to its lowest level in nearly 80 years. Other exporters such as Brazil and Mexico also lowered their estimated yields for the year, citing crop difficulties from warmer weather.
Persons: Organizations: Florida, U.S, U.S . Department of Agriculture Locations: Florida, Brazil, Mexico
Over half of Americans on SNAP benefits are eating less, a new report found. More Americans are skipping meals six months after the end of pandemic SNAP expansions. AdvertisementAdvertisementMany Americans are eating less and attending food pantries more frequently six months after the end of pandemic-era Supplemental Nutrition Assistance Program, or food stamp, expansions. As many as 16 million households received reductions to their SNAP benefits starting in March. Over 80% of those receiving SNAP benefits are elderly Americans, working families, or people with disabilities, the USDA said.
Persons: Biden, , Tom Vilsack Organizations: SNAP, Service, Nutrition Assistance, U.S . Department of Agriculture, Food Research, Action Center, Social, Women, USDA Locations:
MIAMI (AP) — A Pacific white-sided dolphin who shared a tank with Lolita the orca at the Miami Seaquarium until Lolita died last month has been moved to SeaWorld San Antonio, where he will live with others of his species, officials said Monday. Li’i will be joining other Pacific white-sided dolphins in San Antonio, some of whom he lived with previously, the park said in a Facebook post. SeaWorld San Antonio is one of only two places in the United States to care for his species, officials said. The 40-year-old aquatic mammal had been the only remaining Pacific white-sided dolphin at the Seaquariam, according to a Seaquariam Facebook post. Political Cartoons View All 1179 ImagesAnimal rights activists had been fighting for years to have Lolita freed from her tank at the Seaquarium.
Persons: Lolita, Li’i, Lolita —, Toki —, Toki, Jim Irsay Organizations: MIAMI, Miami, SeaWorld, Facebook, Dolphin Company, Indianapolis Colts, U.S . Department of Agriculture Locations: SeaWorld San Antonio, San Antonio, United States, Pacific, Federal
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