Author: staff

Just past 9 a.m. CT, May corn was down 3¼¢ at $4.54½ per bushel. May soybeans were down 19¼¢ at $10.10¼ per bushel. May wheat contracts were also lower. CBOT wheat was down 6¼¢ at $5.33 per bushel. KC wheat was down 2¢ at $5.66½. Minneapolis wheat was down 1¼¢ at $5.91¼. “The marketplace did not leave much doubt about what it thought of ‘Liberation Day’ yesterday,” said Matt Zeller, senior market intelligence analyst at StoneX, earlier this morning. “Dow Jones futures are down more than 1,200 points as of the time of this writing, and S&P and NASDAQ shares…

By Scott Irwin The March 31st Prospective Plantings report from the USDA was much anticipated and indicated that U.S. producers will shift a significant amount of acreage to corn in 2025. An important constraint on shifts in acreage for individual crops is the total size of crop acreage in the U.S. Our previous work shows that total crop acreage fell sharply from 2014 through 2020 (e.g., farmdoc daily, June 10, 2021). The purpose of this article is to update our earlier estimates of total crop acreage for the U.S. through 2024 and make a projection for 2025. Analysis We have outlined the process of estimating total U.S.…

By Jarrett Renshaw and Stephanie Kelly WASHINGTON, April 1 (Reuters) – A U.S. oil and biofuel coalition met with the Environmental Protection Agency on Tuesday to make the case for higher federal mandates for biomass diesel blending, according to three sources familiar with the plans. The EPA meeting signals that the agency may be closer to releasing fresh biofuel blending quotas for the Renewable Fuel Standard (RFS), a first test of U.S. President Donald Trump’s promised support of the biofuel industry. The proposal is expected to cover two years worth of mandates, two sources familiar with the matter told Reuters. The EPA could release the proposal as early as this…

Farmers in states along the Ohio River should expect historic levels of flooding and possible tornadoes as the first week of April comes to a close. AccuWeather Expected Rainfall Totals The first round of flooding is expected to impact the majority of Indiana from 5 to 9 p.m. on Wednesday, April 2, said Indiana State Climatologist Beth Hall. Additional storm systems are anticipated to bring even more precipitation after the soils are drenched with high levels of rainfall from the first storm, Hall said. The storms that are bringing these historic levels of precipitation are expected to take place until…

President Donald Trump announced a swath of reciprocal tariffs on Wednesday in an address at the White House Rose Garden. Calling it a “Liberation Day,” Trump signed an executive order declaring a national economic emergency due to “foreign trade and economic practices” from countries around the world.  According to a fact sheet released by the White House in the wake of the executive order, a 10% tariff on imported goods from all countries will go into effect on April 5 at 12:01 a.m. ET.   In addition, countries will have an “individualized reciprocal higher tariff” on countries with which the Trump…

This story was updated at 5:30 p.m. EDT. By Ashley Murray WASHINGTON — President Donald Trump rolled out sweeping “reciprocal” tariffs Wednesday on trading partners and allies across the globe. The president unveiled a baseline 10% levy on all international imports, plus what he described as additional “kind” and “discounted” tariff rates that will increase but not match the rates other countries apply to American imports. The levies, effective at midnight, will hit U.S. industries from agriculture to manufacturing to fashion. According to a table distributed at Trump’s speech, U.S. tariffs will reach 34% on imports from China, 46% on products from…

CNH Industrial’s decision to temporarily halt farm equipment shipments from North American and European factories has put a spotlight on uncertainties surrounding global trade policies and the political maneuvering of tariff threats. The move, which the company directly links to the planned tariffs instigated by the Trump Administration, signals potential disruptions in the farm equipment supply chain at a time when the industry is already grappling with economic pressures. The statement from CNH said:  “We are stopping shipments from North America plants and European imports effective today. This is a temporary move until we assess the full impact of planned…

U.S. Customs and Border Protection Agriculture Specialists in El Paso, Texas, faced an unexpected challenge this week — 242 pounds of smuggled bologna. And, yes, that’s a whole lot of bologna to deal with. The drama unfolded around 2 a.m. when authorities say a 52-year-old U.S. citizen from Albuquerque, New Mexico, rolled up to the inspection lanes. After he claimed he had nothing to declare (fruits, vegetables, or meat products), he was sent for a secondary inspection. Enter CBP Agriculture Canine “Harlee,” who sniffed out trouble in the rear cargo area of the vehicle. And what did they find? Officials…

In 1955, William Hewitt had a new job as president of Deere & Company. His passion for farm machinery and his desire to grow the green line internationally had him casting an eye to the rich European market. Deere would have to play catch-up to the likes of Ford, International Harvester, and Massey-Ferguson, who had all established solid reputations in Europe. What the company needed, Hewitt believed, was an established manufacturer in Europe with a well- known name. Outside of the three companies mentioned previously, the most recognized name in horsepower on that continent was Lanz. Besides making a line…

Mexican President Claudia Sheinbaum says that Mexico will not retaliate with tariffs against the United States, as President Donald Trump prepares to announce sweeping new trade measures. Sheinbaum stated that Mexico will unveil a broader economic strategy aimed at strengthening the country’s position no matter what happens. Speaking at her daily morning news conference, Sheinbaum reaffirmed Mexico’s commitment to continental free trade and emphasized her focus on stability and cooperation. “Let’s see what announcement they make, but we have a plan to strengthen the economy under any circumstance,” she said. Sheinbaum’s strategy contrasts with the more confrontational approaches taken by…