Morning Commentary

March corn up ½ at $3.8525

Jan beans up 3 3/4 at $9.0425

The DOW is down

USD is weaker

Crude oil up $.16 at $51.36

Good morning,

Corn bulls continue to hold out hope of large Chinese purchases in the days and weeks ahead. There’s talk that the downside could be fairly limited as bears remain apprehensive ahead of the potential Chinese headlines. It’s not that the fundamentals are wildly bullish at the moment, it’s just the fact bears might not want to post new wagers ahed of uncertainty involving the Chinese. Despite more talk and rumors of the Chinese buying Ukraine corn, they still have the firepower and means to buy large doses of U.S. supply. Hence, bears might feel it’s best to pause for a moment. For what it’s worth, the 200-Day Moving Average is just below $4.05 per bushel. In fact, the DEC19 contract is now more than +20 cents higher than the DEC18 contract was trading at this point last year. Those who are looking to reduce a portion of their longer-term risk need to be paying close attention. The highest close we’ve seen as of late in the DEC19 contract occurred back on October 15th at $4.08 per bushel. Prior to that, the highest close occurred on August 6th at $4.11^6. The highest close in the past year occurred on May 25th at $4.22^6 per bushel. The contracts all-time high is just $4.24 per bushel.

Soybean bears argue that weak economic data out of China adds to further uncertainty. The U.S. dollar has recently posted an 18-month high. On the flip side, China’s recently released industrial production numbers are now near a fresh 3-year low, while the Chinese November retail sales data showed a 15 year low. Moral of the story, growth inside China is clearly being questioned. There’s also more talk circulating that the Chinese are simply hedging a portion of their bets on South America supply, by purchasing small quantities of U.S. beans and keeping the U.S. door open… just in case.

U.S. farm, automaker and food and beverage groups pressed the Trump administration on Friday to ensure that any new trade talks with the European Union lead to an increase in their access to EU markets with less red tape. The farm and food groups on Friday also urged U.S. officials to address tariff barriers and other regulatory and labeling issues that hinder U.S. access to the lucrative European market. (Source: Reuters)

China confirmed two new cases of African swine fever, as the disease continues to spread through the world’s largest hog herd, the Ministry of Agriculture and Rural Affairs said late on Sunday in a statement on its website. One outbreak occurred on a farm of 210 pigs in Yanting county in the southwestern province of Sichuan, killing 26. Another case was confirmed in a district of the city of Jixi in the northeastern province of Heilongjiang where 24 pigs died on a farm of 84 pigs. (Source: Reuters)

Ag Secretary Sonny Perdue announced that the USDA is offering up to $600 million in loans and grants to help build broadband infrastructure in rural America. They are calling it the ReConnect Program and they are hoping that it can answer the Adminstration’s call to action for rural prosperity. Funding for the program has been appropriated in the fiscal year 2018 budget for this broadband pilot program. (Source: USDA)

 

MORNING COMMENTS

Good Morning    

Current Markets as of         8:00      Friday, December 14, 2018

 

Month                                        High                              Low                                Change                                     Last

Mar 19 Corn                          $3.86 ¾                         $3.83                              $ + 2 ½                                   $3.86 ¾                                                      

Dec 19 Corn                          $4.05                               $4.02 ¼                        $ + ¾                                       $4.04 ½                                                                  

Jan 19 Beans                        $9.08 ¼                         $9.00 ¾                        $ + ¾                                       $9.07 ¾                     

Nov 19 Beans                       $9.56                               $9.49 ¾                        $ UNC                                      $9.56         

  

Oil    $50.50 Mixed      Gold   $1,235   Lower     Dow $24,385   Lower      Wheat $5.45 Lower 

The Des Moines ethanol low rack price is $1.4321. This is $0.1813 lower than the unleaded gas low price of $1.6134. 

Corn Support is $3.78 and resistance is $3.90.  Beans Support is $9.06 and resistance is $9.32. Funds sold 20 Million (4,000 Contracts) of corn and sold 50 Million (10,000) contracts of beans Thursday.  Over 103,000 contracts traded last night.  

The markets are mixed to lower as the bulls remain frustrated with the limited bean purchases made by the Chinese government. Ag futures on the Dalian were generally weaker with soybeans losing roughly 1%; veg oils and grains also weaker. For the week, March Corn is holding unchanged, Jan Beans are 12 lower 

China may start buying U.S. corn as early as January according to news.  Rumors are it will be around 118 million bushels 

Argentina’s corn crop is estimated to be 47% seeded versus 40% a year ago. 

Ag Secretary Perdue said he expects to meet with the OMB today to discuss approving a second tranche of MFP payments (tariff aid), despite the recent soybean purchases by China 

Monday’s NOPA crush report is estimated to be 168.4 million bushels for November.  October’s was the largest month ever, at 172.3 mbu of soybeans crushed. 

Weather: Rains fell in eastern OK/TX as expected over the past 24 hours, remaining there this morning; after precip moves out tonight, the Plains & belt are dry (and still warm) going forward, at least until chances resume in the 11-15 day

The heaviest rains fell in central Argentina yesterday, shifting to southern ARG through early next week, with those areas wet again in the 11-15 day; much of S.A. looks dry for the 6-10 day today, with no major issues on tap 

EARLY MARKET FEATURES

Corn – Corn prices remain resilient after sell-offs, but still remains range bound.

Beans – Lack of follow through soybean purchases from China has the market stumbling, as it mulls how long to remain optimistic for larger quantities.

Have a great Weekend!   Darren, Brady and David

Gold-Eagle Cooperative Providing Quality Services and Products Innovatively, Profitably, and Professionally. 

MORNING COMMENTS

Good Morning    

Current Markets as of         8:00      Thursday, December 13, 2018

 

Month                                    High                         Low                              Change                                 Last

Mar 19 Corn                        $3.86                      $3.84                              $ – ½                                  $3.84 ¾                                                      

Dec 19 Corn                        $4.04                      $4.02 ¾                         $ – ½                                  $4.03 ¾                                                                 

Jan 19 Beans                      $9.20                      $9.16 ½                         $ – 1 ¾                                $9.18 ¼                    

Nov 19 Beans                     $9.66                      $9.63 ½                         $ – 1 ½                                $9.64 ½         

  

Oil    $50.50 Lower      Gold   $1,240   Lower     Dow $24,630   Higher      Wheat $5.43 Higher 

The Des Moines ethanol low rack price is $1.4321. This is $0.1207 lower than the unleaded gas low price of $1.5528. 

Weekly total fuel ethanol production fell back to 1.046 million barrels per day this week, compared to 1.069 mln bpd the week prior and 1.089 mln bpd on the comparable week last year. Cumulative output since September 1 now stands basically right in line with last year’s pace at 1.043 mln bpd; the USDA revised lower their 2018/19 corn use for ethanol estimate in this month’s S&D to 5.6 billion bushels, which is now basically right in line with last season

 Corn Support is $3.78 and resistance is $3.90.  Beans Support is $9.06 and resistance is $9.32. Funds bought 30 Million (6,000 Contracts) of corn and bought 30 Million (6,000) contracts of beans Wednesday.  Just under 85,000 contracts traded last night.  

Grain markets are mixed as the trade debates the recent news of China’s soybean purchases. News wires reporting China has finally purchased some US soybeans, its first purchase since President Trump and Chinese President Xi struck a truce to the trade war earlier this month. It is believed China has purchased 1.5 to 2.4 MMTs, although it is yet to be confirmed by the USDA 

The House of Representatives passed the farm bill on Wednesday. The Senate on Tuesday voted overwhelmingly to approve an $867 billion farm bill. The legislation will now head to the President 

Weather: Scattered rains and snows are lingering in the southern Plains this morning, heaviest in eastern OK and TX, continuing through tomorrow morning; the Plains and Midwest will dry up after that for the next week, with conditions staying mostly dry into the extended maps as precip remains south and southeast of U.S. growing areas. Temperatures look above-normal

Rains were scattered around the fringes of South American crop areas over the past 24 hours, expanding into southern ARG and BRZ across the weekend, and western areas of those two countries in the 6-10 day 

EARLY MARKET FEATURES

Corn – Corn’s daily price chart looks trapped in consolidation, but the weekly chart suggests more room to the upside

Beans – Nearby soybeans traded to their highest price since June 15th yesterday after China’s return.  More sales will be needed soon to maintain this rally.

Have a great Thursday!   Darren, Brady and David

Gold-Eagle Cooperative Providing Quality Services and Products Innovatively, Profitably, and Professionally. 

MORNING COMMENTS

Good Morning    

Current Markets as of         8:05      Wednesday, December 12, 2018

 

Month                                    High                        Low                                Change                                 Last

Mar 19 Corn                      $3.86 ½                  $3.84 ¾                          $ + ¾                                 $3.85 ½                                                      

Dec 19 Corn                      $4.04 ¾                   $4.03 ¾                         $ UNC                                $4.04                                                                

Jan 19 Beans                    $9.23                        $9.15 ¼                          $ + 5 ¾                               $9.20 ¾                    

Nov 19 Beans                   $9.66 ¾                   $9.61 ½                         $ + 3                                    $9.64 ¾         

  

Oil    $52.50 Higher      Gold   $1,245   Higher     Dow $24,730   Higher      Wheat $5.38 Higher 

The Des Moines ethanol low rack price is $1.4634. This is $0.1057 lower than the unleaded gas low price of $1.5691. 

News reports indicate the Office of Management and Budget (OMB) is delaying the second tranche of tariff aid (MFP) payments on hopes of trade progress with China, while other sources say the USDA is expecting some kind of payment announcement by the end of the year 

Corn Support is $3.78 and resistance is $3.90.  Beans Support is $9.06 and resistance is $9.32. Funds bought 25 Million (5,000 Contracts) of corn and bought 30 Million (6,000) contracts of beans Tuesday.  Over 85,000 contracts traded last night.  

Markets are higher in the overnight trade on optimism China will soon be securing US Ag products. President Donald Trump said on Tuesday that China was buying a “tremendous amount” of U.S. soybeans and that trade talks with Beijing were already under way by telephone, with more meetings likely among U.S. and Chinese officials. Traders will be watching closely for signs of actually cash purchases 

The Senate on Tuesday voted overwhelmingly to approve an $867 billion farm bill. The legislation will now head to the House, where it is also expected to pass 

Weather: Rains will move in later this week, bringing precip chances to OK and TX before mostly affecting the Southeast and ECB into the weekend; some extended maps are running a bit wetter this morning, but the heaviest action remains south

Rains fell in eastern Argentina over the past 24 hours while temperatures increased to the upper 90’s and over 100 in northern ARG and southern BRZ; conditions look drier for the next five days save for central/NE ARG, with rains returning throughout for the 6-10 day

 

EARLY MARKET FEATURES

Corn – Corn strength coming from hopes of a China trade resolution included a 12,202 contract increase in open interest yesterday as new buyers entered the market

Beans – Firm start after President Trump said China is back in the market to buy U.S. soybeans.  Trade is watching for a sales announcement.

Have a great Wednesday!   Darren, Brady and David

Gold-Eagle Cooperative Providing Quality Services and Products Innovatively, Profitably, and Professionally. 

Morning Commentary

March corn up 1 at $3.85

Jan beans up 4 at $9.1375

The DOW is up

USD is weaker

Crude oil up $.74 at $51.7

Good morning,

Stocks are higher this morning as rumors circulate that U.S. and Chinese officials, in a phone call between Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer, have agreed to push forward the timetable and roadmap for the next stage of economic and trade consultation work

Corn continues to trade in a narrow range ahead of headline uncertainty surrounding both the USDA and Chinese trade talks. Bulls are hoping the Chinese rumors are correct and that they are going to soon step in as healthy buyers of U.S. corn and ethanol. Bears are quick to point out if nothing develops or comes from the recent rounds of talks with the Chinese, the USDA may have no choice but to start backpedaling a bit in regard to their export and ethanol demand estimates. We also have to keep in mind, the USDA will probably be lowering their total U.S. production estimate. The short term trend is slightly positive.  Setbacks that hold 378 keeps the market poised to test 390.5.  A close under 374 provides fresh downside targets.  Long, system types are risking 378.

Soybean traders continue to debate Chinese trade headlines. Today’s talk that U.S. and Chinese officials are trying to speed up negotiations is being debated against yesterday’s move by the Chinese courts to block the sale of Apple phones. Regardless of the headlines, I continue to hear rumors that the Chinese are planning to buy +5 MMTs to +8 MMTs of U.S. soybeans to replenish state reserves. There seems to be a lot of uncertainty about when the purchases will be made and if the Chinese are going to take steps towards dropping the current 25% tariff. The short term trend is bullish.  Closing over 924.5 would suggest a run to the low to mid-940 area.  Setbacks that hold 906.25-896.5 should maintain up trending action.  A close under 882.25 voids the outlook.  Long, system types are risking 895.

China to More Than Triple Ethanol Production Capacity: With demand for the commodity expected to surge as the country shifts toward cleaner fuels, China is set to triple output capacity by 2020. The nation is currently building or seeking approval for new ethanol plants with capacity to produce 6.6 million tons of the biofuel a year.

Bob Bergland, who was Agriculture secretary under President Jimmy Carter, died Sunday at age 90. As ag secretary, Bergland had the difficult job of defending to Midwest farmers Carter’s unpopular 1980 decision to embargo grain sales to the Soviet Union after the invasion of Afghanistan in 1979. Bergland, a northern Minnesota farmer, died at a nursing home in his hometown of Roseau, near the U.S. – Canadian border. (Source: AP)

Morning Commentary

March corn down 1 ½ at $3.84

Jan beans down 4 at $9.1275

The DOW is up

USD is stronger

Crude oil down $.99 at $51.62

Good morning,

There is not much in the news today, everybody is waiting to see the WASDE report tomorrow on US carryout numbers.  The short term trend is slightly positive.  Setbacks that hold 378 keeps the market poised to test 390.5.  A close under 374 provides fresh downside targets.  Long, system types are risking 378. 

The short term trend for beans is bullish.  Closing over 924.5 would suggest a run to the low to mid-940 area.  Setbacks that hold 906.25-896.5 should maintain up trending action.  A close under 882.25 voids the outlook.  Long, system types are risking 895.  Trade negotiators are asking grain companies if China has purchased any US beans.  I don’t think purchasing is what matters, it’s going to be proving that they actually shipped and unloaded at a Chinese port.

 

Morning Commentary

March corn up 1 ¼ at $3.84

Jan beans up 3 ¼ at $9.1275

The DOW is down

USD is stronger

Crude oil up $2.16 at $53.65

Good morning,

Corn prices have moved very little this week. The trade seems to be balancing the optimism and rumors that Chinese buyers may eventually purchase large amounts of U.S. corn and ethanol, against the bearish talk of increasing South American and Ukraine production. The USDA is currently forecasting a heavy rebound in South American production compared to last year.  Weekly ethanol production jumped back to its highest level since late-August, reported this week at 1.069 million barrels per day. Even though this was a strong number it’s still significantly less than last year. Ethanol surplus is also about +4 to +5 million barrels higher than last year. The short term trend is slightly positive.  Setbacks that hold 378 keeps the market poised to test 390.5.  A close under 374 provides fresh downside targets.  Long, system types are risking 378. 

Soybean  traders continue to debate the uncertainty surrounding U.S. and Chinese relations. Any negative headline is causing an almost immediate knee-jerk to the downside, while headlines that might insinuate we are a step closer to a compromise are pulling prices higher. Without knowing the next round of political headlines it’s extremely difficult to forecast price. From a technical perspective, it continues to feel like major nearby resistance in the JAN19 contract is up between $9.20 and $9.30 per bushel. Keep in mind, since the middle of June, this contract only closed above $9.20 twice, with the last time being back in early-August. The $8.90 to $9.00 area continues to look like nearby support.

U.S. ag exports are always larger than ag imports, but that trade surplus is forecast to narrow this year due to the trade war with China. We already know the 2019 ag exports are projected to be down $1.9 billion to $141.5 billion largely due to decreases in soybeans and cotton. These losses are expected to narrow the trade surplus to $14.5 billion in 2019, which would be the smallest surplus since the $12.2 billion of 2007 according to USDA economists. Put that in perspective, back in 2014 the trade surplus was $43.1 billion. (Source: USDA, ERS)

As a remedy for low prices and the loss of dairy farms, delegates to the Wisconsin Farm Bureau’s annual meeting passed a resolution calling for consideration of dairy supply management. Now, this is really early and they are only “considering” the possibility of supply management. If they did develop a system to manage supply, they would put farmers in charge and keep the government out of controlling prices. (Source: Brownfield Ag)

The Commerce Department said the trade deficit increased 1.7% to $55.5 billion, the highest level since October 2008. The trade gap has now widened for a five straight months. Data for September was revised to show the deficit rising to $54.6 billion instead of the previously reported $54.0 billion. The trade deficit specifically with China surged 7.1% to a record $43.1 billion in October as soybean exports continued to fall and imports of consumer goods rose to a record high. (Source: Reuters)

 

Morning Commentary

March corn down 1 at $3.8375

Jan beans up 2 ¾ at $9.145

The DOW is up

USD is weaker

Crude oil up $.02 at $53.27

Good morning,

Van Trump says “Corn bulls are happy to see stronger prices. I know it doesn’t feel like it, but yesterday was one of the top-10 highest closes for the MAR19 contract since mid-August. Technical bulls would love to see the MAR19 contract close back above $3.90 per bushel, something that’s only happened once since mid-August. There’s been some rumors circulating that Chinese buyers might come in and ink a contract to buy a significant amount of U.S. corn. I’ve heard rumors and talk of numbers between 400 and 500 million bushels. I’ve also heard rumors and talk that the Chinese could also ink a deal to buy a heavy dose of U.S. ethanol.”

Soybean bulls are talking about rumors of Chinese buying. There’s been some talk that a Chinese delegation will be traveling to the U.S. in mid-December, perhaps to make a symbolic purchase. There’s no specificity or details. Insiders are wondering if it will be the typical “frame contract” where Chinese buyers promise to purchase a large amount of new-crop soybeans further out in 2019. Bears argue that talk is cheap and portions and parts of these contracts can and have been canceled or kicked down the road in years past. The real question is will Chinese buyers purchase any of burdensome old-crop supply?  There’s word the Chinese have been snooping around and checking out prices off the PNW, but to this point still just rumors and talk. It feels like there might be a temporary put in place during this 90-day trade truce that is currently in play. It’s tough to envision a lot of fresh new bearish money coming into the market with this window of opportunity now open for the Chinese to purchase U.S. bushels.

Perdue speaking yesterday suggested the second installment of trade aid is not likely to be released until after this week or early next week, while USDA works with the White House budget shop to finalize the plans. Now, whether the U.S. – China agreement will affect the new payment rates for commodity producers is yet to be seen. Speaking on this, Perdue said that nothing has changed from the tariff damage that farmers have already experienced. But he also noted that it’s hard to determine the impact of the new trade truce without more details.

Record pork production and trade disputes continue to be the near-term drag on prices. However, according to Purdue University agricultural economist Chris Hurt, lean hog futures are more optimistic for spring and summer prices to be high enough to provide profitability in the second and third quarters of 2019. Trade dispute have limited U.S. pork sales in China and Mexico beginning last summer. Pork exports to China are down 19% for this calendar year and most of the decrease has been since the summer when Chinese tariffs on U.S. pork were put in place. Hurt believes hog prices will lift by spring and summer of 2019 as traders expect the tariff situation to get worked out by then. (Source: Pork Business)

Abandoned coal mines are often held up as symbols of the changing state of climate or the economy. But academics at the University of Nottingham see in them the potential future of food and have patented a new system revolving around what they call “deep farming”—turning old coal mines into fully functioning farms. Keep in mind, Deep farms would have advantages that current land-based farms lack, including a controlled climate uninfluenced by weather and no need for expensive farming equipment. It’s worth mentioning, Deep farming would incorporate many existing technologies—hydroponic planters with nutrient-rich water, aeroponic plants growing with a mist, and LED units to create photosynthesis. And if they can use groundwater and be located close to the communities they serve, deep farms could reduce the CO2 emissions of farming and cut down on transportation costs at the same time.

 

MORNING COMMENTS

Good Morning    

Current Markets as of         8:05        Tuesday, December 4, 2018

 

Month                                             High                               Low                              Change                                Last

Mar 19 Corn                                $3.81 ¾                         $3.80                             $ – ¼                                 $3.81 ¾                                                      

Dec 19 Corn                                 $4.01 ½                        $4.00 ½                        $ – 1                                    $4.01 ½                                                                

Jan 19 Beans                               $9.09 ½                      $8.99 ½                         $ + 3 ¾                              $9.09 ½                   

Nov 19 Beans                              $9.52 ¾                       $9.44 ¾                         $ + 2 ½                              $9.52 ¾         

  

Oil    $53.50 Higher      Gold   $1,235   Higher     Dow $25,770   Lower      Wheat $5.15 Mixed 

The Des Moines ethanol low rack price is $1.4067. This is $0.1446 lower than the unleaded gas low price of $1.5513. 

Yesterday’s USDA Grain Crushing’s report showed 461.968 million bushels of corn was used in the production of fuel alcohol in October versus 470 in October a year ago. Cumulative usage through the first two months of the marketing year stands at 449.2 million bushels versus 445.5 million a year ago 

Corn Support is $3.80 and resistance is $4.00.  Beans Support is $9.06 and resistance is $9.56. Funds bought 50 Million (10,000 Contracts) of corn and bought 50 Million (10,000) contracts of beans Monday.  Just over 95,000 contracts traded last night.  

Grain markets are slightly lower in the overnight trade as traders continue to question what was actually agreed to between the US and China at the G-20 summit. Details of the trade truce are lacking but Secretary of Ag Sonny Purdue said he expects China to begin buying U.S. soybeans starting in January. As of now the 25% tariff on US beans is still in place which will keep private Chinese buyers at bay. Any purchases of US beans may come from the government. 

Weather: Drier stretch ahead for most of Brazil for at least the next ten days, with rains ultimately returning to the center-south by the 11-15 day time frame, but a drier north allowing any overly wet areas to dry out. Meanwhile, Argentina will be dry this week as well to aid fieldwork there (corn and soybean planting and wheat harvest), with light rains this upcoming weekend preceding a much wetter stretch next week. Rain chances will continue for the 11-15 day period, particularly in northern ARG crop areas 

EARLY MARKET FEATURES

Corn – 1 to 3 cents lower off profit taking

Beans – 2 to 4 cents lower on confusion over China trade

Have a great Tuesday!   Darren, Brady and David

Gold-Eagle Cooperative Providing Quality Services and Products Innovatively, Profitably, and Professionally. 

Morning Commentary

March corn up 4 ¾ at $3.7125

Jan beans up 16 ¾ at $9.115

The DOW is up

USD is weaker

Crude oil up $2.55 at $53.47

Good morning,

Trump and Xi have agreed to a 90 days truce in order to try and hammer out a deal.  The trade feels all this does is gives the Chinese the beans they need until Brazil’s crop is truly ready to refill the pipeline and then the US is not needed again for 8 months.  Stay tuned…

Corn is being pulled higher by soybeans and talk of vastly improved trade winds for. U.S. agriculture. The details are still extremely fuzzy, so we have to pay very close attention. We are keeping a close eye on the DEC19 contract, we are back above $4.00 per bushel. The highest price print we’ve seen in the past year for the DEC19 contract, goes all the way back to May 29th, when we traded $4.23^6. We haven’t been back above $4.10 per bushel since since early-August. Moral of the story, if you’ve missed the few previous opportunities that have presented themselves to reduce a portion of your estimated 2019 new-crop price risk, here’s another chance. Bears point to the fact weather conditions in Brazil and Argentina seem to be mostly cooperative to this point. Bulls understand and recognize there’s still a ton of “weather risk” in play moving forward. Bears are also pointing to more U.S. corn acres going in the ground in 2019.  The short term trend is neutral.  A close over 381.5 signals a test of 390.5.  A close under 374 voids the outlook.  Long, system types are long risking 377.5. 

Soybean bulls are jumping for joy as China agrees to buy large doses of U.S. agriculture. Though details and specifics are still cloudy, most inside the trade believe U.S. soybeans and pork will be the primary and immediate beneficiary. The funds are thought to be short around 65,000 contracts of soybeans, short about 80,000 bean oil contracts, and short around 8,000 meal contracts. Nobody is certain how much the Chinese government will buy. .  The short term trend is bullish.  Closing over 924.5 would suggest a run to the low to mid-940 area.  Setbacks that hold 906.75 should maintain up trending action.  A close under 882.25 voids the outlook.  Long, system types are risking 895.

After purchasing Monsanto earlier this year for $63 billion, Bayer has seen its stock price tumble. The consequence of which is causing them to shudder 12,000 jobs to handle the losses. (Source: Wall Street Journal)

Cover crops were grown on 4% of U.S. cropland in 2015, double the percentage in 2010 says the “Conservation Trends” report, which also says corn growers are rapidly adopting GPS guidance systems and variable-rate planters. (Source: USA)

Text of the farm bill compromise announced last week is being furiously written and lawmakers are scrambling to find time to schedule a vote in the House and Senate. With time running out on the lame duck, the target is for votes to be held this week. SNAP — which is the most contentious piece of the legislation — has been aligned with the Senate version, meaning the Houses’ bid to impose stricter work requirements on millions of food stamp recipients fell short. (Source: Politico)

 

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