‘Outstanding’ conditions point to bumper crops, huge corn and soy stockpiles
U.S. farmers are looking at their largest corn crop ever and a near-record soybean harvest, with huge stockpiles of both crops persisting into fall 2021, said the USDA on Wednesday. Some 2.8 billion bushels of corn would remain in the bin when next year’s crop is mature, the largest carry-over since the Reagan era.
Harris on ag issues: Strong on farmworker protections, against the USMCA
During her time in the Senate, California’s Kamala Harris, named Tuesday to be Joe Biden’s running mate in this fall’s presidential election, has been active on a number of farm and ag issues, including creating a path to citizenship for farmworkers. She has also been an advocate of aggressive action on climate change.
Grocery prices surge for fourth straight month, pushed by meat
Beef prices in the grocery store are 14.2 percent higher than a year ago, part of a broad rise in prices for “food at home,” said the Labor Department on Wednesday. While it was the fourth month in a row of surging grocery prices, there were signs that food inflation is easing.
TODAY’S QUICK HITS
Fischbach to face Peterson in Minnesota: Former Lt. Gov. Michelle Fischbach, endorsed by President Trump, took 59 percent of the vote in a five-person race for the Republican nomination to oppose House Agriculture chairman Collin Peterson, the winner of a three-way Democratic primary, in the general election on Nov. 3. (Minnesota Secretary of State)
High pandemic costs for Smithfield: The largest U.S. pork producer, Smithfield Foods, said it spent $350 million to protect its workers and the food supply during the second quarter of this year, resulting in a $72 million loss for the first six months of 2020. (Successful Farming)
Judge rules for birds, against Trump: U.S. district judge Valeria Caproni struck down a Trump administration rule change that allowed people and companies to kill migratory birds as long as they could show it was not intentional. (Washington Post)
USDA offers derecho assistance: Agricultural producers affected by this week’s derecho in the Midwest may be eligible for aid under disaster programs for livestock losses or programs to repair flood damage or replant trees, vines, and bushes, said the USDA. (USDA)
China buys more soybeans: Private exporters reported the sale of 258,000 tonnes of U.S. soybeans on Wednesday for delivery to China during the 2020/21 trade year. The announcement came a day after importers bought 132,000 tonnes of U.S. soybeans for delivery during the same period. (USDA)
