Chinese currency devaluations create demand questions

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  China’s currency devaluation has been a big factor in commodities and the broader market this week. The Yuan has dropped sharply this week as Beijing attempts to stimulate its economy by making Chinese goods less expensive on the global market. However, a cheaper Yuan also makes Chinese imports more expensive. University of Illinois Agricultural… Read more »

Corn, soybean estimates top average expectations

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The USDA’s first field based estimates of 2015 U.S. corn and soybean production were larger than what analysts were expecting. Overall, the numbers indicate less damage than expected from the inclement weather during portions of the growing season. As of August 1st, the USDA projects corn at 13.686 billion bushels with an average yield of… Read more »

Missouri A-G seeks injunction on WOTUS rule

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The Attorney General of Missouri, who is suing the EPA over its Waters of the U.S. definition, has filed a preliminary injunction to block implementation of the new rule. General Chris Koster says they’re asking the federal court in Jefferson City (Missouri) to “preserve the status quo while the case is pending.” Twelve other states… Read more »

First Iowa turkey farm begins restocking after AI virus

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A northwest Iowa turkey farm hit by the avian influenza virus in late May has started to restock with young birds. The Brad Moline farm near Manson is the first turkey farm in the state to begin restocking. And Gretta Irwin, executive director of the Iowa Turkey Federation, says others are close behind. “Others will… Read more »

Kerry confident in TPP completion by year’s end

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U.S. Secretary of State John Kerry has weighed in on the Trans-Pacific Partnership (TPP) negotiations, expressing confidence that the trade pact will be completed by the end of the year. Kerry cited dairy and autos as two of the main unresolved issues, but said those hurdles can be overcome. Meanwhile, the Los Angeles Times reports… Read more »

Wheat exports top estimates

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  The USDA reports wheat sales for the week ending July 30th were larger than expected, while corn was below what analysts were anticipating, and soybeans and soybean products were within pre-report estimates. Physical shipments of corn, soybeans, and wheat were less than what’s needed to meet USDA projections for the current marketing year. Wheat… Read more »

U.S. farm expenditures increase

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  The USDA reports U.S. farmers spent $397.6 billion on agricultural production in 2014. That’s up 8.3% from 2013 and the largest year to year increase since 2008. The biggest expenditure was feed at almost 64 billion dollars, 16% above the previous year. Farm service, livestock, poultry and related expenses, and labor expenditures also had… Read more »

GDT drops further

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Another 9.3 percent decline in the overall index at the Global Dairy Trade auction Tuesday morning. This is the tenth-consecutive decline putting the index at a record-low 514. The index has lost 451 points since March 3rd and 891 since a year ago. There was a 0.2 percent increase in the cheddar cheese price compared… Read more »

Mulhern optimistic TPP can be completed with dairy

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  A rather disappointing end at the Trans Pacific Partnership trade talks in Hawaii last Friday. Dairy continued to be one of the main sticking points with four countries in disagreement over market access. New Zealand wants more access to the U.S. market, the U.S. says not without more American access to Canadian and Japanese… Read more »

NPPC confident TPP will pass, despite no deal in Hawaii

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The National Pork Producers Council, NPPC, says it’s confident a final deal will be reached in the Trans Pacific Partnership. The latest round of TPP talks, in Hawaii, ended late Friday night with no final deal.  U.S. Trade Representative Michael Froman says that while they made significant progress on resolving remaining issues, there’s still more… Read more »