Farmer sentiment changed very little in December compared to the preceding month. The Purdue University-CME Group Ag Economy Barometer recorded a reading of 114, just one point lower than a month earlier. 

Both sub-indices of the barometer, the Index of Current Conditions and the Index of Future Expectations, also fell one point below their respective November readings. The Current Conditions Index for December was 112, while the Future Expectations Index was 115. All three indices were weaker than in December 2022, with the barometer falling ten percent below a year earlier. 

Farmers still pointed to input costs at year-end as their top concern for the year ahead, but the percentage of farmers choosing the risk of lower crop and/or livestock prices rose from just 16 percent in January to 26 percent in December. Inflation expectations among farmers moderated during 2023. Compared to a year earlier, far fewer producers expect inflation to exceed six percent in the new year, and a large majority look for inflation to average less than four percent in 2024.

Farmer sentiment changed very little in December compared to the preceding month. The Purdue University-CME Group Ag Economy Barometer recorded a reading of 114, just one point lower than a month earlier. Both sub-indices of the barometer, the Index of Current Conditions and the Index of Future Expectations, also fell one point below their respective November readings. The Current Conditions Index for December was 112, while the Future Expectations Index was 115. All three indices were weaker than in December 2022, with the barometer falling ten percent below a year earlier. Farmers still pointed to input costs at year-end as their top concern for the year ahead, but the percentage of farmers choosing the risk of lower crop and/or livestock prices rose from just 16 percent in January to 26 percent in December. Inflation expectations among farmers moderated during 2023. Compared to a year earlier, far fewer producers expect inflation to exceed six percent in the new year, and a large majority look for inflation to average less than four percent in 2024.- NAFB

U.S. farmer sentiment stable as inflation expectations subside

As agriculture looks to 2024, AgriThority, a Kansas City company, put together its top ten trends for the new year.

The company is seeing some consistency from prior years but some emerging trends as well. The first is a push for more biologicals and biostimulants, comparing them to what seed treatments were in the 1990s. The biostimulant market should reach $6.8 billion by 2028. They say climate-smart farming will get smarter as measurements behind the carbon market continue maturing. AgriThority says precision ag will continue evolving with the onset of AI.

They do note that regulations are not evolving at the same rate as innovation in agriculture. The company’s top ten also says sustainability isn’t going away, plus soil health will continue evolving. Artificial intelligence will likely be more present in agriculture next year. They call 2024 a “shakeout year” as companies will make moves for the future as competition increases.

As agriculture looks to 2024, AgriThority, a Kansas City company, put together its top ten trends for the new year.The company is seeing some consistency from prior years but some emerging trends as well. The first is a push for more biologicals and biostimulants, comparing them to what seed treatments were in the 1990s. The biostimulant market should reach $6.8 billion by 2028. They say climate-smart farming will get smarter as measurements behind the carbon market continue maturing. AgriThority says precision ag will continue evolving with the onset of AI.They do note that regulations are not evolving at the same rate as innovation in agriculture. The company’s top ten also says sustainability isn’t going away, plus soil health will continue evolving. Artificial intelligence will likely be more present in agriculture next year. They call 2024 a “shakeout year” as companies will make moves for the future as competition increases.-NAFB

New Year’s Ag Innovation Trends

Geopolitical factors, elections, and many other surprises await the agricultural economy in 2024.

Farm Journal and Purdue University’s December Economists’ Monthly Monitor shows views slightly more optimistic than they were a month ago. The economists talked about what unexpected news headlines they wouldn’t be surprised to see in 2024. The responses include China falling into a big recession. They wouldn’t be surprised to see a second farm bill extension, corn prices that test four dollars again, and inflation will support managed money returning to the commodities.

Record beef imports wouldn’t be a surprise, as well as a national corn yield bigger than 190 bushels per acre. There are also reasons for optimism like demand opportunities through domestic soybean crushing, renewable fuel, and sustainable aviation fuel. They’re looking for robust domestic consumption and an opportunity for competitive pricing for U.S. commodities in overseas markets. Many producers should still have strong balance sheets.

Geopolitical factors, elections, and many other surprises await the agricultural economy in 2024.Farm Journal and Purdue University’s December Economists’ Monthly Monitor shows views slightly more optimistic than they were a month ago. The economists talked about what unexpected news headlines they wouldn’t be surprised to see in 2024. The responses include China falling into a big recession. They wouldn’t be surprised to see a second farm bill extension, corn prices that test four dollars again, and inflation will support managed money returning to the commodities.Record beef imports wouldn’t be a surprise, as well as a national corn yield bigger than 190 bushels per acre. There are also reasons for optimism like demand opportunities through domestic soybean crushing, renewable fuel, and sustainable aviation fuel. They’re looking for robust domestic consumption and an opportunity for competitive pricing for U.S. commodities in overseas markets. Many producers should still have strong balance sheets.-NAFB

Ag Economists’ 2024 Expectations

USDA’s Ag Marketing Service announced a cooperative agreement with Oklahoma under the Resilient Food Systems Infrastructure Program.

Through the agreement, USDA and Oklahoma are working to offer over $6.3 million in competitive grant funding for projects designed to build resilience across the middle of the supply chain. In May 2023, USDA announced the availability of up to $420 million through the RFSI program to strengthen local and regional food systems.

“This partnership between USDA and Oklahoma is allowing critical funding to reach areas of the supply chain that need it most,” says Jenny Moffitt, USDA Undersecretary for Marketing and Regulatory Programs. Funded projects in Oklahoma will increase cold storage, expand distribution channels for food producers, and increase the number of co-packing options.

“These projects will create new opportunities for the region’s small and midsize producers to thrive, expand access to nutritious food options, and increase supply chain resiliency,” Moffitt adds.

USDA’s Ag Marketing Service announced a cooperative agreement with Oklahoma under the Resilient Food Systems Infrastructure Program.Through the agreement, USDA and Oklahoma are working to offer over $6.3 million in competitive grant funding for projects designed to build resilience across the middle of the supply chain. In May 2023, USDA announced the availability of up to $420 million through the RFSI program to strengthen local and regional food systems.“This partnership between USDA and Oklahoma is allowing critical funding to reach areas of the supply chain that need it most,” says Jenny Moffitt, USDA Undersecretary for Marketing and Regulatory Programs. Funded projects in Oklahoma will increase cold storage, expand distribution channels for food producers, and increase the number of co-packing options.“These projects will create new opportunities for the region’s small and midsize producers to thrive, expand access to nutritious food options, and increase supply chain resiliency,” Moffitt adds.-NAFB

USDA Continues Strengthening U.S. Food Supply Chains

Nebraska Governor Jim Pillen commended Nebraska Representative Mike Flood for introducing a resolution condemning the UN Food Strategy that was released at COP28.

He says the strategy is bad for Nebraska and other agricultural states. “The UN’s radical attack on agriculture undermines the livelihoods of Nebraska farmers and ranchers as well as those in other states where agriculture is an economic driver,” Pillen says. “Anti-agriculture activism damages the world’s food system, and it hurts the hungry.”

He also says farmers in and out of Nebraska raise their products using sustainable methods designed to protect the land and resources on which they rely. The COP28 report called for countries to revamp their farm subsidies to encourage healthier eating, prevent overgrazing of livestock, and eliminate food waste. The report also backed sugar taxes, which would apply to high-fructose corn syrup. It also calls for the promotion of plant-based alternatives to red meat.

Nebraska Governor Jim Pillen commended Nebraska Representative Mike Flood for introducing a resolution condemning the UN Food Strategy that was released at COP28.He says the strategy is bad for Nebraska and other agricultural states. “The UN’s radical attack on agriculture undermines the livelihoods of Nebraska farmers and ranchers as well as those in other states where agriculture is an economic driver,” Pillen says. “Anti-agriculture activism damages the world’s food system, and it hurts the hungry.”He also says farmers in and out of Nebraska raise their products using sustainable methods designed to protect the land and resources on which they rely. The COP28 report called for countries to revamp their farm subsidies to encourage healthier eating, prevent overgrazing of livestock, and eliminate food waste. The report also backed sugar taxes, which would apply to high-fructose corn syrup. It also calls for the promotion of plant-based alternatives to red meat.-NAFB

Nebraska Governor Condemns UN Food Strategy

The U.S. Customs and Border Protection has reopened the Eagle Pass and El Paso rail crossings into Mexico.

Ag groups like the National Corn Growers Association were happy with the move but cautioned the agency against making similar decisions in the future. “This is certainly a welcome relief,” says NCGA President Harold Wolle. “We hope this serves as a cautionary tale against rail shutdowns in the future.” He also says rail is a key mode of transportation for U.S. ag exports into Mexico.

U.S. Wheat Associates and the National Association of Wheat Growers were also relieved the shutdown ended. “These rail corridors are essential gateways to many loyal flour millers and food customers in Mexico who rely on the interconnected U.S. and Mexican rail system for a reliable source of high-quality U.S. wheat,” they said in a statement. “We trust CBP will take the steps needed to avoid future rail closures.”

The U.S. Customs and Border Protection has reopened the Eagle Pass and El Paso rail crossings into Mexico.Ag groups like the National Corn Growers Association were happy with the move but cautioned the agency against making similar decisions in the future. “This is certainly a welcome relief,” says NCGA President Harold Wolle. “We hope this serves as a cautionary tale against rail shutdowns in the future.” He also says rail is a key mode of transportation for U.S. ag exports into Mexico.U.S. Wheat Associates and the National Association of Wheat Growers were also relieved the shutdown ended. “These rail corridors are essential gateways to many loyal flour millers and food customers in Mexico who rely on the interconnected U.S. and Mexican rail system for a reliable source of high-quality U.S. wheat,” they said in a statement. “We trust CBP will take the steps needed to avoid future rail closures.”-NAFB

Ag Groups Pleased with Rail Re-Opening

As of December 1, there were 75 million hogs and pigs on U.S. farms, up slightly from December 2022 and down slightly from September 1, 2023.

That’s according to the Quarterly Hogs and Pigs Report from the National Agricultural Statistics Service. Of those 75 million hogs and pigs, 69 million were market hogs while six million were kept for breeding. Between September and November 2023, 34.6 million pigs were weaned on U.S. farms. From September through November 2023, U.S. hog and pig producers weaned an average of 11.66 pigs per litter.

Hog producers intend to have 2.9 million sows farrow between December 2023 and February 2024, and 2.91 million sows farrow between March and May 2024. Iowa hog producers accounted for the largest inventory among the states with 24.9 million head. Minnesota had the second-largest inventory at 9.1 million head. North Carolina was third with a total of 7.8 million head.

As of December 1, there were 75 million hogs and pigs on U.S. farms, up slightly from December 2022 and down slightly from September 1, 2023.That’s according to the Quarterly Hogs and Pigs Report from the National Agricultural Statistics Service. Of those 75 million hogs and pigs, 69 million were market hogs while six million were kept for breeding. Between September and November 2023, 34.6 million pigs were weaned on U.S. farms. From September through November 2023, U.S. hog and pig producers weaned an average of 11.66 pigs per litter.Hog producers intend to have 2.9 million sows farrow between December 2023 and February 2024, and 2.91 million sows farrow between March and May 2024. Iowa hog producers accounted for the largest inventory among the states with 24.9 million head. Minnesota had the second-largest inventory at 9.1 million head. North Carolina was third with a total of 7.8 million head.-NAFB

U.S. Hog Inventory Slightly Higher

The National Corn Growers Association applauds the sustained reductions in nutrient losses reaching the Gulf of Mexico. The reductions are shrinking the average size of the hypoxia zone, as recently documented in a task force report to Congress. 

NCGA commends all growers for the practical conservation steps and measures they have voluntarily adopted on their farms to reduce nutrient losses and protect water quality. “In the journey of water quality stewardship, we are encouraged by the strides made by growers,” says Bryan Biegler, NCGA Stewardship Action Team Chair. “The commitment to sustainable practices is clear, and despite challenging weather patterns impacting growers, we see definite progress taking form over the course of a five-year rolling average.” 

According to the report, the 2025 interim target to reduce nitrogen loads by 20 percent has been met. More work is needed to reduce nitrogen and phosphorous by 28 percent to meet the 2035 goal.

The National Corn Growers Association applauds the sustained reductions in nutrient losses reaching the Gulf of Mexico. The reductions are shrinking the average size of the hypoxia zone, as recently documented in a task force report to Congress. NCGA commends all growers for the practical conservation steps and measures they have voluntarily adopted on their farms to reduce nutrient losses and protect water quality. “In the journey of water quality stewardship, we are encouraged by the strides made by growers,” says Bryan Biegler, NCGA Stewardship Action Team Chair. “The commitment to sustainable practices is clear, and despite challenging weather patterns impacting growers, we see definite progress taking form over the course of a five-year rolling average.” According to the report, the 2025 interim target to reduce nitrogen loads by 20 percent has been met. More work is needed to reduce nitrogen and phosphorous by 28 percent to meet the 2035 goal.- NAFB

NCGA applauds nutrient runoff reduction

Food-insecure households have difficulty providing enough food for their members because they lack resources. USDA’s Economic Research Service monitors the extent of food insecurity in U.S. households at the national and state levels through an annual U.S. Census Bureau Survey. 

State-level estimates are obtained by averaging three years of data to generate a larger sample size in each state. This provides more precise estimates and more ability to detect differences across states. The national three-year average (2020-2022) was 11.2 percent of American households classified as food insecure. 

Of that 11.2 percent, findings ranged from 6.2 percent in New Hampshire to 16.6 percent in Alaska. Food insecurity was statistically significantly higher than the national average in six states, including Arkansas, Louisiana, Mississippi, Oklahoma, South Carolina, and Texas. The prevalence of food insecurity was statistically significantly lower in 17 states, including California, Colorado, Iowa, Minnesota, North and South Dakota, Wisconsin, and many others.

Food-insecure households have difficulty providing enough food for their members because they lack resources. USDA’s Economic Research Service monitors the extent of food insecurity in U.S. households at the national and state levels through an annual U.S. Census Bureau Survey. State-level estimates are obtained by averaging three years of data to generate a larger sample size in each state. This provides more precise estimates and more ability to detect differences across states. The national three-year average (2020-2022) was 11.2 percent of American households classified as food insecure. Of that 11.2 percent, findings ranged from 6.2 percent in New Hampshire to 16.6 percent in Alaska. Food insecurity was statistically significantly higher than the national average in six states, including Arkansas, Louisiana, Mississippi, Oklahoma, South Carolina, and Texas. The prevalence of food insecurity was statistically significantly lower in 17 states, including California, Colorado, Iowa, Minnesota, North and South Dakota, Wisconsin, and many others.- NAFB

Eleven percent of Americans are food insecure

The U.S. Customs and Border Protection Agency was forced to suspend rail operations at key points into and out of Mexico. The move is to help alleviate the sharp increase in illegal immigration at the border. 

These actions affect U.S. corn and barley shipments, two commodities the U.S. Grains Council represents. The CBP is working with the Mexican government to remedy the situation as quickly as possible, but there’s no timeline for returning to normal operations. “The North American trading system relies on interconnectedness, and any disruption affects Mexican and U.S. Commodities,” says USGC Chair Ryan LeGrand. “It’s vital the situation gets resolved in a timely manner.” 

A letter from the NCGA says, “We are aware of trains sitting at origin in at least six states that are unable to move, and we expect that number to grow. Mexican customers are telling U.S. shippers that they’ll soon consider other suppliers.”

The U.S. Customs and Border Protection Agency was forced to suspend rail operations at key points into and out of Mexico. The move is to help alleviate the sharp increase in illegal immigration at the border. These actions affect U.S. corn and barley shipments, two commodities the U.S. Grains Council represents. The CBP is working with the Mexican government to remedy the situation as quickly as possible, but there’s no timeline for returning to normal operations. “The North American trading system relies on interconnectedness, and any disruption affects Mexican and U.S. Commodities,” says USGC Chair Ryan LeGrand. “It’s vital the situation gets resolved in a timely manner.” A letter from the NCGA says, “We are aware of trains sitting at origin in at least six states that are unable to move, and we expect that number to grow. Mexican customers are telling U.S. shippers that they’ll soon consider other suppliers.”- NAFB

Ag groups respond to rail suspension at U.S.-Mexico border

Hundreds of ranchers in Colorado are worried about several wolves that were airlifted into the state and released this week. 

Wolves were eradicated from Colorado in the 1940s. After three years and dozens of public hearing disagreements, the first handful of wolves were moved from Oregon into Colorado. “Just watching an animal leave the crate and run up the hillside is a majestic site,” says Eric Odell, Colorado Parks and Wildlife Species Conservation Manager. Many ranchers spent a lot of time in the Colorado statehouse fighting the wolf releases and in a federal courtroom last week. 

Several ranchers who spoke with public broadcasting in the state have gone shopping for the biggest guard dogs they can find. It’s not just farmers and ranchers objecting to the release, either. Tourism directors in several towns are worried and point out it’s another predator to watch out for with children and small animals.

Hundreds of ranchers in Colorado are worried about several wolves that were airlifted into the state and released this week. Wolves were eradicated from Colorado in the 1940s. After three years and dozens of public hearing disagreements, the first handful of wolves were moved from Oregon into Colorado. “Just watching an animal leave the crate and run up the hillside is a majestic site,” says Eric Odell, Colorado Parks and Wildlife Species Conservation Manager. Many ranchers spent a lot of time in the Colorado statehouse fighting the wolf releases and in a federal courtroom last week. Several ranchers who spoke with public broadcasting in the state have gone shopping for the biggest guard dogs they can find. It’s not just farmers and ranchers objecting to the release, either. Tourism directors in several towns are worried and point out it’s another predator to watch out for with children and small animals.- NAFB

Wolves reintroduced in Colorado over ranching objections

Work is being done on the steps to advance the American Climate Corps, a landmark initiative announced by the President earlier this year. The initiative will train the next generation of clean energy, conservation, and climate resilience workers while putting them on a path to good-paying union jobs. 

As part of that commitment, seven federal agencies entered into a Memorandum of Understanding that will serve as a blueprint for the multi-agency program. The MOU lays out the mission, goals, priorities, and the next steps in implementing the American Climate Corps. Beginning in January, senior administration officials will also convene a series of virtual listening sessions to hear directly from prospective American Climate Corps applicants and implementing partners. 

Those partners can include labor unions, educational institutions, employer partners, and state, local, and tribal governments. Within the first three weeks of launching the Corps, over 40,000 people expressed an interest in joining it.

Work is being done on the steps to advance the American Climate Corps, a landmark initiative announced by the President earlier this year. The initiative will train the next generation of clean energy, conservation, and climate resilience workers while putting them on a path to good-paying union jobs. As part of that commitment, seven federal agencies entered into a Memorandum of Understanding that will serve as a blueprint for the multi-agency program. The MOU lays out the mission, goals, priorities, and the next steps in implementing the American Climate Corps. Beginning in January, senior administration officials will also convene a series of virtual listening sessions to hear directly from prospective American Climate Corps applicants and implementing partners. Those partners can include labor unions, educational institutions, employer partners, and state, local, and tribal governments. Within the first three weeks of launching the Corps, over 40,000 people expressed an interest in joining it.- NAFB

MOU on establishing climate corps

Agribusiness mergers have been a concern for agriculture because they cut down on competition and lead to higher prices for things like inputs. 

The Justice Department and the Federal Trade Commission issued the 2023 Merger Guidelines describing the factors and frameworks the agencies utilize when reviewing mergers and acquisitions. The new guidelines were released after a two-year process of public engagement and reflect modern market realities and the experience of participants in the marketplace. “These finalized guidelines provide transparency into how the Justice Department is protecting the American people from ways in which unlawful, anticompetitive practices manifest themselves in the modern economy,” says Attorney General Merrick Garland. 

The department also says that competitive markets and economic opportunity for all Americans go hand in hand. Garland was grateful to hear from authors, nurses, farmers, and other concerned citizens from across the country. “Merger enforcement will be better as a result,” he said.&nbsp;

Agribusiness mergers have been a concern for agriculture because they cut down on competition and lead to higher prices for things like inputs. The Justice Department and the Federal Trade Commission issued the 2023 Merger Guidelines describing the factors and frameworks the agencies utilize when reviewing mergers and acquisitions. The new guidelines were released after a two-year process of public engagement and reflect modern market realities and the experience of participants in the marketplace. “These finalized guidelines provide transparency into how the Justice Department is protecting the American people from ways in which unlawful, anticompetitive practices manifest themselves in the modern economy,” says Attorney General Merrick Garland. The department also says that competitive markets and economic opportunity for all Americans go hand in hand. Garland was grateful to hear from authors, nurses, farmers, and other concerned citizens from across the country. “Merger enforcement will be better as a result,” he said.&nbsp;- NAFB

Justice Department, FTC approve 2023 merger guidelines

The National Corn Growers Association praised an EPA decision that advances the request of several governors to allow their states to sell E15 year-round to the Office of Management and Budget. 

The move now puts eight Midwestern states closer to year-round access to fuel with a 15 percent ethanol blend. “Allowing consumers to access higher blends of ethanol year-round will play a critical role in helping the country meet its ambitious climate goals,” says NCGA President Harold Wolle. Growth Energy CEO Emily Skor says it’s a welcome step forward for farmers and drivers across the Midwest. 

“We’re grateful to the governors of Illinois, Iowa, Minnesota, Missouri, Nebraska, Ohio, South Dakota, and Wisconsin for pushing for uninterrupted access to E15,” she says. The request has been in limbo after the oil industry warned the administration that allowing E15 sales in select states would cause supply chain issues and higher gasoline prices.

The National Corn Growers Association praised an EPA decision that advances the request of several governors to allow their states to sell E15 year-round to the Office of Management and Budget. The move now puts eight Midwestern states closer to year-round access to fuel with a 15 percent ethanol blend. “Allowing consumers to access higher blends of ethanol year-round will play a critical role in helping the country meet its ambitious climate goals,” says NCGA President Harold Wolle. Growth Energy CEO Emily Skor says it’s a welcome step forward for farmers and drivers across the Midwest. “We’re grateful to the governors of Illinois, Iowa, Minnesota, Missouri, Nebraska, Ohio, South Dakota, and Wisconsin for pushing for uninterrupted access to E15,” she says. The request has been in limbo after the oil industry warned the administration that allowing E15 sales in select states would cause supply chain issues and higher gasoline prices.- NAFB

Movement on unrestricted E15 sales

Brazil’s farmers are running into difficulty ahead of their upcoming corn planting season. Reuters says drought is causing farmers in the South American country to slow their fertilizer purchases. 

Corn is one of the most fertilizer-intensive crops, and the fertilizer slowdown is likely to dent sales in Brazil, the world’s top corn exporter. Brazil’s soybean harvest is already slowed, which may push planting back for the main corn crop that follows it early next year. Brazil’s farmers typically plant less corn when they miss the ideal planting window in January or February. 

Fertilizer companies are already dealing with lower profits as crop and fertilizer prices continue to sag after they peaked during the start of the Russia-Ukraine war. U.S.-based fertilizer supplier Mosaic expects Brazil’s second-corn crop production to fall by 12 percent or 12.7 million metric tons. That’s higher than the Brazilian government’s estimate of an 11.1-million-ton drop from last year.

Brazil’s farmers are running into difficulty ahead of their upcoming corn planting season. Reuters says drought is causing farmers in the South American country to slow their fertilizer purchases. Corn is one of the most fertilizer-intensive crops, and the fertilizer slowdown is likely to dent sales in Brazil, the world’s top corn exporter. Brazil’s soybean harvest is already slowed, which may push planting back for the main corn crop that follows it early next year. Brazil’s farmers typically plant less corn when they miss the ideal planting window in January or February. Fertilizer companies are already dealing with lower profits as crop and fertilizer prices continue to sag after they peaked during the start of the Russia-Ukraine war. U.S.-based fertilizer supplier Mosaic expects Brazil’s second-corn crop production to fall by 12 percent or 12.7 million metric tons. That’s higher than the Brazilian government’s estimate of an 11.1-million-ton drop from last year.- NAFB

Drought complicating Brazil’s corn planting

U.S. Trade Representative Katherine Tai applauded the European Union’s announcement that it’s extending the suspension of tariffs on U.S. Goods. “For the past two years, the United States and European Union have engaged in critically important negotiations,” Tai said in a statement. 

“Our goal is to negotiate a forward-looking arrangement that will allow us to join forces economically to incentivize fair and clean production and trade in the steel and aluminum sectors.” She points out that challenges remain as two new wars have started and global economic disruptions have continued since the negotiations began in 2021. 

“These are technically complex negotiations and the United States remains committed to our partnership with the EU and to staying at the table to continue the progress we’ve made so far,” Tai adds. “I’m glad the EU has announced that it is taking steps to join us in extending the time for these negotiations.”

U.S. Trade Representative Katherine Tai applauded the European Union’s announcement that it’s extending the suspension of tariffs on U.S. Goods. “For the past two years, the United States and European Union have engaged in critically important negotiations,” Tai said in a statement. “Our goal is to negotiate a forward-looking arrangement that will allow us to join forces economically to incentivize fair and clean production and trade in the steel and aluminum sectors.” She points out that challenges remain as two new wars have started and global economic disruptions have continued since the negotiations began in 2021. “These are technically complex negotiations and the United States remains committed to our partnership with the EU and to staying at the table to continue the progress we’ve made so far,” Tai adds. “I’m glad the EU has announced that it is taking steps to join us in extending the time for these negotiations.”- NAFB

EU will continue tariff suspension on U.S. goods

A group of Midwest governors requested the Biden administration grant them the ability to sell E15 year-round, and that request hasn’t been granted. Lawmakers in both Congressional chambers are pushing for approval. Senators Chuck Grassley (R-IA) and Joni Ernst (R-IA) are demanding the Office of Management and Budget finalize the necessary waiver quickly. 

That would allow retailers time to prepare for summer 2024 sales. The Iowa lawmakers are leading the bicameral push alongside Representative Brad Finstad (R-MN). “This rulemaking should have been completed in July 2022, and unfortunately, we still have no regulatory certainty for our fuel retailers, fuel blenders, or biofuel producers more than 16 months later,” the lawmakers wrote in a letter to the administration. 

“Homegrown American-produced ethanol strengthens our national security and ensures lower vehicle emissions to achieve the administration’s climate goals.” Lawmakers want the governors’ request finalized quickly to bring much-needed certainty to farmers, retailers, and consumers.

A group of Midwest governors requested the Biden administration grant them the ability to sell E15 year-round, and that request hasn’t been granted. Lawmakers in both Congressional chambers are pushing for approval. Senators Chuck Grassley (R-IA) and Joni Ernst (R-IA) are demanding the Office of Management and Budget finalize the necessary waiver quickly. That would allow retailers time to prepare for summer 2024 sales. The Iowa lawmakers are leading the bicameral push alongside Representative Brad Finstad (R-MN). “This rulemaking should have been completed in July 2022, and unfortunately, we still have no regulatory certainty for our fuel retailers, fuel blenders, or biofuel producers more than 16 months later,” the lawmakers wrote in a letter to the administration. “Homegrown American-produced ethanol strengthens our national security and ensures lower vehicle emissions to achieve the administration’s climate goals.” Lawmakers want the governors’ request finalized quickly to bring much-needed certainty to farmers, retailers, and consumers.- NAFB

Lawmakers continue pushing for unrestricted E15 sales

The annual Midwest Crops Conference is scheduled for January 2024 in St. Joseph, Missouri. Formerly the “Certified Crops Advisor Conference,” the two-day event targets people looking for Continuing Education Units, including crop advisors, ag industry professionals, and farmers. 

“This workshop will provide in-depth discussion on several topics to help agricultural professionals enhance their crop production recommendations to farmers,” says Denice Ferguson, a member of the conference committee. Researchers and experts in crop production from the University of Missouri, University of Nebraska, Kansas State University, and Iowa State University will present up-to-date information from their areas of expertise. 

“Anyone advising or managing an agricultural operation or serving the ag industry knows that research and technology is driving this sector,” Ferguson says. “Advancements in agronomy, pest management, and crop technologies bring improvements to farmers’ yields, efficiency, and risk management.” The conference will offer 15.5 hours of Continuing Education Units for Certified Crop ‘Advisors.

The annual Midwest Crops Conference is scheduled for January 2024 in St. Joseph, Missouri. Formerly the “Certified Crops Advisor Conference,” the two-day event targets people looking for Continuing Education Units, including crop advisors, ag industry professionals, and farmers. “This workshop will provide in-depth discussion on several topics to help agricultural professionals enhance their crop production recommendations to farmers,” says Denice Ferguson, a member of the conference committee. Researchers and experts in crop production from the University of Missouri, University of Nebraska, Kansas State University, and Iowa State University will present up-to-date information from their areas of expertise. “Anyone advising or managing an agricultural operation or serving the ag industry knows that research and technology is driving this sector,” Ferguson says. “Advancements in agronomy, pest management, and crop technologies bring improvements to farmers’ yields, efficiency, and risk management.” The conference will offer 15.5 hours of Continuing Education Units for Certified Crop ‘Advisors.- NAFB

Midwest crops conference in January

Despite a drop in key operating costs, Rabobank says contracted margins in 2023 will continue into the new year. Soybean farmers are likely to achieve good margins in the 2024 season, but corn farmers will feel their margins pressured by ample supply. 

Wheat margins are unlikely to see better margins despite declining costs. Trends are indicating that the markets are at a pivotal point. Rabobank says uncertainty rises from factors like record Brazilian crops, more “adequate” crops in the U.S. and Europe, and expectations of another record crop in Brazil in 2024. 

Global domestic demand for key crops declined, which points to building stocks and lower prices. Weather challenges and geopolitical instability coupled with economic uncertainty prompt consideration of a risk premium in the market. Rabobank says corn exhibits the least upside potential, with wheat presenting the highest upside potential. Soybeans likely fall somewhere in between. Volatility is likely in 2024.

Despite a drop in key operating costs, Rabobank says contracted margins in 2023 will continue into the new year. Soybean farmers are likely to achieve good margins in the 2024 season, but corn farmers will feel their margins pressured by ample supply. Wheat margins are unlikely to see better margins despite declining costs. Trends are indicating that the markets are at a pivotal point. Rabobank says uncertainty rises from factors like record Brazilian crops, more “adequate” crops in the U.S. and Europe, and expectations of another record crop in Brazil in 2024. Global domestic demand for key crops declined, which points to building stocks and lower prices. Weather challenges and geopolitical instability coupled with economic uncertainty prompt consideration of a risk premium in the market. Rabobank says corn exhibits the least upside potential, with wheat presenting the highest upside potential. Soybeans likely fall somewhere in between. Volatility is likely in 2024.- NAFB

Tighter margins ahead in 2024

The USDA says agricultural producers can now enroll in the Farm Service Agency’s Agriculture Risk Coverage and Price Loss Coverage programs for the 2024 crop year. Producers can enroll and make election changes for the 2024 crop year beginning on December 18, and the deadline to complete enrollment and any election changes is March 15, 2024. 

The current farm bill was extended through September 30, 2024, allowing authorized programs like ARC and PLC to continue operating. “It’s business as usual for ARC and PLC implementation for the 2024 crop year,” says Zach Ducheneaux, Farm Service Agency Administrator. 

“These programs provide critical financial protections against commodity market volatilities for many American farmers so don’t delay enrollment.” He also advises producers to avoid the rush and contact their local FSA Office for an appointment because even with no changes in program elections for next year, farmers still need to sign a contract to enroll.

The USDA says agricultural producers can now enroll in the Farm Service Agency’s Agriculture Risk Coverage and Price Loss Coverage programs for the 2024 crop year. Producers can enroll and make election changes for the 2024 crop year beginning on December 18, and the deadline to complete enrollment and any election changes is March 15, 2024. The current farm bill was extended through September 30, 2024, allowing authorized programs like ARC and PLC to continue operating. “It’s business as usual for ARC and PLC implementation for the 2024 crop year,” says Zach Ducheneaux, Farm Service Agency Administrator. “These programs provide critical financial protections against commodity market volatilities for many American farmers so don’t delay enrollment.” He also advises producers to avoid the rush and contact their local FSA Office for an appointment because even with no changes in program elections for next year, farmers still need to sign a contract to enroll.- NAFB

ARC and PLC 2024 enrollment is open

The USDA’s December Livestock Outlook says higher cow slaughter and heavier-than-assumed carcass weights will offset lower fed cattle slaughter in the fourth quarter of 2023. 

That will leave the beef production forecast for 2023 unchanged. Expected heavier carcasses will carry over into early 2024 along with higher cow slaughter. Fourth-quarter pork production was raised 25 million pounds to 7.09 billion pounds, 2.4 percent higher than during the same period last year. Hog prices are expected to average $54 per hundredweight for the quarter, 15 percent lower than the fourth quarter of 2022. 

First-quarter hog prices are lowered by $1 per hundredweight to $56 as soft consumer pork demand is likely to persist, limiting hog price increases. Lamb and mutton import forecasts are lower in the December report compared to the previous month. In poultry, projected broiler production is adjusted higher for the fourth quarter of 2023 based on strong production in October.

The USDA’s December Livestock Outlook says higher cow slaughter and heavier-than-assumed carcass weights will offset lower fed cattle slaughter in the fourth quarter of 2023. That will leave the beef production forecast for 2023 unchanged. Expected heavier carcasses will carry over into early 2024 along with higher cow slaughter. Fourth-quarter pork production was raised 25 million pounds to 7.09 billion pounds, 2.4 percent higher than during the same period last year. Hog prices are expected to average $54 per hundredweight for the quarter, 15 percent lower than the fourth quarter of 2022. First-quarter hog prices are lowered by $1 per hundredweight to $56 as soft consumer pork demand is likely to persist, limiting hog price increases. Lamb and mutton import forecasts are lower in the December report compared to the previous month. In poultry, projected broiler production is adjusted higher for the fourth quarter of 2023 based on strong production in October.- NAFB

December 2023 livestock outlook

The USDA reminds specialty crop growers that assistance is available for producers who incur eligible on-farm food safety program expenses. The expenses are part of the process for obtaining or renewing a food safety certification through the Food Safety Certification for Specialty Crops program. 

“The program is one of the many ways USDA helps support local and regional food systems and opportunities for small-scale producers,” says Farm Service Agency Administrator Zach Ducheneaux. “I’m encouraging all specialty crop growers to discover how this program can help mitigate the costs of on-farm food safety certification, meet regulatory requirements, and apply by the January deadline.” 

Eligible operations must grow specialty crops, meet the definition of a small business, and have paid eligible expenses related to the 2023 certification. The application for 2023 closes January 31, 2024, and FSA will issue payments after the application period closes. For more information, growers should visit farmers.gov.

The USDA reminds specialty crop growers that assistance is available for producers who incur eligible on-farm food safety program expenses. The expenses are part of the process for obtaining or renewing a food safety certification through the Food Safety Certification for Specialty Crops program. “The program is one of the many ways USDA helps support local and regional food systems and opportunities for small-scale producers,” says Farm Service Agency Administrator Zach Ducheneaux. “I’m encouraging all specialty crop growers to discover how this program can help mitigate the costs of on-farm food safety certification, meet regulatory requirements, and apply by the January deadline.” Eligible operations must grow specialty crops, meet the definition of a small business, and have paid eligible expenses related to the 2023 certification. The application for 2023 closes January 31, 2024, and FSA will issue payments after the application period closes. For more information, growers should visit farmers.gov.- NAFB

Specialty crop growers reminded to apply for assistance

The U.S. Treasury Department will use a modified version of the GREET model as a measurement to determine reductions in greenhouse gas emissions. 

The agency will use the model as it allocates tax credits for sustainable aviation fuels under the Inflation Reduction Act. The National Corn Growers Association was pleased to hear the Treasury’s decision. “Given that GREET was created by the government and is widely respected for its ability to measure reductions in greenhouse gas emissions from the farm to the plane, we’re encouraged by this,” says NCGA President Harold Wolle. 

“We’re eager to help the aviation industry reduce its carbon footprint and look forward to helping ensure the final model helps achieve that goal.” GREET, which stands for the Greenhouse Gasses, Regulated Emissions, and Energy Use in Transportation, was developed by the U.S. Department of Energy to measure greenhouse emissions from the field to the car or plane.

The U.S. Treasury Department will use a modified version of the GREET model as a measurement to determine reductions in greenhouse gas emissions. The agency will use the model as it allocates tax credits for sustainable aviation fuels under the Inflation Reduction Act. The National Corn Growers Association was pleased to hear the Treasury’s decision. “Given that GREET was created by the government and is widely respected for its ability to measure reductions in greenhouse gas emissions from the farm to the plane, we’re encouraged by this,” says NCGA President Harold Wolle. “We’re eager to help the aviation industry reduce its carbon footprint and look forward to helping ensure the final model helps achieve that goal.” GREET, which stands for the Greenhouse Gasses, Regulated Emissions, and Energy Use in Transportation, was developed by the U.S. Department of Energy to measure greenhouse emissions from the field to the car or plane.- NAFB

Good news for the sustainable aviation fuel industry

Barbara O’Brien, president and CEO of Dairy Management Inc., spoke about challenges facing agriculture during the Sustainable Agriculture Summit in Charlotte, North Carolina.

With challenges like a growing global population that needs more food, significant geopolitical challenges, and many others, she says, “We need to take a more thoughtful approach to building resilient food systems, and agriculture must be at the forefront.”

The Summit was co-hosted by the Innovation Center for U.S. Dairy and several other national ag organizations to convene the collective food and agriculture value chain to learn, develop, and advance a shared vision for a sustainable and resilient U.S. food system. One highlight of the Sustainable Ag Summit included producers in different U.S. ag sectors sharing how they approach sustainability on their farms.

Barbara O’Brien, president and CEO of Dairy Management Inc., spoke about challenges facing agriculture during the Sustainable Agriculture Summit in Charlotte, North Carolina.With challenges like a growing global population that needs more food, significant geopolitical challenges, and many others, she says, “We need to take a more thoughtful approach to building resilient food systems, and agriculture must be at the forefront.”The Summit was co-hosted by the Innovation Center for U.S. Dairy and several other national ag organizations to convene the collective food and agriculture value chain to learn, develop, and advance a shared vision for a sustainable and resilient U.S. food system. One highlight of the Sustainable Ag Summit included producers in different U.S. ag sectors sharing how they approach sustainability on their farms.

Collaboration, Momentum at Sustainable Agriculture Summit

Global coarse grain production is projected as higher due to higher production forecasts for Ukraine, Russia, and the EU, which are partly offset by a reduction for Mexico. Barley production in Canada and Australia is also projected higher.

Coarse grain exports for the October-September trade year increased by 2.3 million tons. The increased global exports are predominantly due to larger corn export forecasts for the U.S. and Ukraine, and larger forecasts for Australian and Canadian barley. Mexico is expected to take in more corn imports, and China will boost barley imports. The U.S. feed grain forecast is unchanged at 400 million metric tons. Total feed grain supply is 439.4 million metric tons.

Strong corn exports and healthy outstanding sales, particularly to Mexico, contribute to a 25 million bushel increase in the 2023-2024 U.S. corn export forecast. The corn and sorghum season-average prices remain unchanged, but barley and oats prices will rise.

Global coarse grain production is projected as higher due to higher production forecasts for Ukraine, Russia, and the EU, which are partly offset by a reduction for Mexico. Barley production in Canada and Australia is also projected higher.Coarse grain exports for the October-September trade year increased by 2.3 million tons. The increased global exports are predominantly due to larger corn export forecasts for the U.S. and Ukraine, and larger forecasts for Australian and Canadian barley. Mexico is expected to take in more corn imports, and China will boost barley imports. The U.S. feed grain forecast is unchanged at 400 million metric tons. Total feed grain supply is 439.4 million metric tons.Strong corn exports and healthy outstanding sales, particularly to Mexico, contribute to a 25 million bushel increase in the 2023-2024 U.S. corn export forecast. The corn and sorghum season-average prices remain unchanged, but barley and oats prices will rise.-NAFB