Author: staff

By Ruma Paul DHAKA, July 20 (Reuters) – Bangladesh signed a deal on Sunday to import 700,000 tonnes of wheat annually from the U.S. over the next five years, in a move aimed at securing tariff relief from the Trump administration amid growing trade tensions, officials said. The agreement — formalised through a memorandum of understanding inked in Dhaka between the Ministry of Food and trade group U.S. Wheat Associates — comes at a critical moment, with Washington set to impose a 35% tariff on Bangladeshi exports from Aug. 1. Officials in Dhaka hope the pact will help narrow Bangladesh’s $6 billion trade deficit with…

1. Soybean, Corn Futures Fall on Midwest Rain Soybean and corn futures were lower in overnight trading as rainfall in the U.S. Midwest over the weekend likely gave crops a boost.  As much as 3 inches of rain fell in southern and eastern Iowa on Saturday and Sunday, according to National Weather Service maps. About 2.25 inches fell in Muscatine, Iowa, and 1.6 inches came down in Dubuque, Iowa.  Flash-flood and flood warnings have been issued for parts of southeastern Iowa, northern Missouri, and much of Illinois, the agency said.  Heat advisories and extreme heat warnings also have been issued…

By Amy Lv, Ella Cao, and Colleen Howe BEIJING, July 20 (Reuters) – China’s soybean imports from Brazil in June climbed by 9.2% from a year earlier, customs data showed on Sunday, driven by a strong harvest and the ongoing Sino-U.S. trade war, while supplies from the U.S. rose 21%. The world’s biggest soybean buyer imported 10.62 million metric tons of the oilseed from Brazil last month, or 86.6% of the total imports, compared with 9.72 million tons a year earlier, data from the General Administration of Customs showed. June arrivals from the U.S. reached 1.58 million tons, or about 12.9% of the total…

By Cami Koons Corn inched ahead of schedule last week with a reported 18% of Iowa corn acres reaching the dough stage, according to the crop progress and condition report.  While the heavy rain the past several weeks may have helped crops along, some farmers saw standing water and surplus moisture in their fields.  Iowa Secretary of Agriculture Mike Naig said July precipitation totals for the state are already above normal levels.  According to the state mesonet, parts of the state have had more than 7 inches of rain this month. The average precipitation across the state for the July 14–20…

Beef has become the latest casualty in price markups with prices rising sharply and showing little sign of relief. After a year of steep hikes in egg prices, Americans now face record highs at the meat counter — with ground beef and steak leading the surge. The good news? Americans are still buying beef.  According to the U.S. Bureau of Labor Statistics, beef prices have jumped nearly 9 percent since January, retailing at an average of $9.26 per pound. The June Consumer Price Index showed steaks up 12.4 percent and ground beef up 10.3 percent over the last year. “Beef…

At the market close, December corn was down 4¼¢ at $4.18 per bushel. November soybeans were down ½¢ at $10.25½ per bushel. “Futures were under pressure to start [Tuesday] but ground higher as the session progressed.” said Karl Setzer, partner with Consus Ag Consulting. “The managed-money crowd remains focused on the equity market, and that is where money flow is directed. Until this changes, upside market potential may be limited.” He added, “Corn demand remains above expectations, but now that the South American export program is picking up, this will slow.” The wheat markets were stronger at the close. September…

The Midwest will endure a particularly nasty stretch of heat and humidity this week, and many people are pointing to “corn sweat” as one of the driving forces. Think highs in the upper 90s and lows in the upper 70s as commonplace in the coming days. Corn sweat refers to the evapotranspiration process (common across the plant world) where leaves release water vapor into the air through their stomata. The process is a sign of healthy plants and the health of its surroundings, said Talon Becker, a University of Illinois Extension commercial agriculture educator. Conversely, when plants become stressed, like…

As the U.S. corn crop progresses through some of its most critical stages of development, something unusual is unfolding — not beneath the surface, but rather, beneath the leaves. The nation’s corn crop is in great shape: 74% was rated good/excellent by the USDA for the third straight week. Yet, a phenomenon called tight tassel wrap has been reported in several of the top corn-growing states, and it’s something that has the potential to impact overall yield. What Is It? With tight tassel wrap, corn tassels remain tightly wrapped in the upper leaves of the corn plant and fail to…

Texas Agriculture Commissioner Sid Miller said the Lone Star State would be working closely with the U.S. Department of Agriculture on efforts to reintroduce an improved pest control method to the international screwworm response: Swormlure Bait. “The New World Screwworm is not just a Texas problem. This is a nationwide crisis with potential massive implications for American agriculture, which could result in billions of dollars in economic losses and place a heavy burden on our agriculture, wildlife industries, and public health systems,” Miller said. “We cannot wait for sterile flies alone to turn the tide. That’s why we’re applying a…

USDA published the latest Crop Progress report on Monday, July 21. Here’s a closer look at recent weather and the status of Kentucky’s most important crops as July progresses. Weather Matt Dixon, University of Kentucky Ag Weather Center meteorologist, in a July Ag Weather Update article, said, “While the heat remains, classic summertime downpours have made a return, adding to what’s already been an exceptionally wet year across the Bluegrass State.”  This year has been the fourth-wettest spring in Kentucky history. The state averages 50.36 inches for the year, and he noted several locations have already surpassed that amount like…