U.S. farmers pursue soybean profits, shrug at tight wheat stocks – April 1, 2022

U.S. farmers pursue soybean profits, shrug at tight wheat stocks

American farmers say they will plant more soybeans — a record 91 million acres — and less corn and spring wheat despite tight global wheat supplies that have been compounded by the Russian invasion of Ukraine. Russia and Ukraine are two of the world’s largest wheat exporters, and Ukraine is a leading corn supplier.

Senate passes ocean shipping reform bill

On a voice vote, the Senate passed a shipping reform bill on Thursday that would make it harder for ocean carriers to unreasonably refuse to load U.S. goods ready for shipment at ports.

Turkey losses to bird flu jump by one-fifth in new outbreaks

More than 1.6 million turkeys have died in outbreaks of highly pathogenic avian influenza (HPAI) in two months, said USDA data on Thursday. The USDA listed eight new outbreaks, affecting 275,465 turkeys and boosting the U.S. total by 22 percent.

USDA unveils disaster aid for livestock producers

Livestock producers will receive at least $577 million in disaster payments to offset forage losses due to severe drought or wildfires last year, said the Agriculture Department on Thursday.

Today’s Quick Hits

U.S. narrows price-fixing case: After two mistrials, the Justice Department said it would drop charges against five of 10 poultry executives accused of conspiring to fix prices for chicken meat between 2012 and 2019. Five others, including two former chief executives of Pilgrim’s Pride, still face charges. (Reuters)

Free school meals: Senate Agriculture Committee chair Debbie Stabenow and Republican Sen. Lisa Murkowski filed a bill to allow schools to serve free meals to all students through September 2023, at a cost of $11 billion. (Politico)

Seafood industry turmoil ahead: The seafood industry is bracing for price hikes, supply disruptions, and potential lost jobs in the wake of economic sanctions on Russia, one of the world’s largest seafood producers. (Associated Press)

Unleash ethanol, say refiners: On the day President Biden called for increased oil production to combat high gasoline prices, the trade group Growth Energy said the administration should authorize the year-round sale of E15, a 15 percent blend of ethanol into gasoline. (Growth Energy)

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