Tightening global supplies of crude oil and vegetable oils are continuing to drive steep food inflation. The University of Missouri’s Ben Brown says Russia’s invasion of Ukraine has driven up the price of crude oil and limited the region’s sunflower oil exports, causing large price hikes for cooking oils… “We’ve seen vegetable oil prices trade at their highest prices ever,” he said. “We’re trading at 83 cents a pound when […]
Soybeans were sharply higher on commercial and technical buying. Beans followed soybean products and palm oil, which were supported by tight supplies and solid demand. There’s talk, but no confirmation, Indonesia will also suspend exports of crude palm oil, along with refined, which would further tighten the global supply with sunflower exports from Ukraine halted by Russia’s invasion. That pulled July soybean oil to a contract high, with the strength […]
The Minnesota House of Representatives approved legislation Tuesday that would boost investments in agriculture and food production. House Ag Committee chair Mike Sundin, a Democrat from Esko, calls the budget proposal historic. “We made a conscious effort to look forward and invest in opportunities that a changing world presents.” He says the dollars build on established programs in traditional production agriculture, target undeveloped areas, and respond to critical issues. ...
Nebraska farmer Anne Meis, UPL agronomist Lynn Justesen, atmospheric scientist Eric Snodgrass discuss the severity of the drought, wind extremes and the weather outlooks for the Great Plans. ...
The host of Crappie Masters and Crappie USA says higher gas prices will likely incentivize more fisherman to utilize ethanol-based fuels this season. Brian Sowers tells Brownfield ethanol-based fuel options ease costs for fisherman that spend the season both on the water and the roads traveling between tournaments. “Especially with gas prices the way they are right now, it is nice to have options like E15 and E85 to […]
An Illinois farmer says it is difficult to keep track of all the factors pressuring the global grain markets. Lance Panzer of Waltonville in southern Illinois tells Brownfield the war in Ukraine, drought in the western US and excess moisture in the eastern corn belt are just a few of the ones he is watching. “My goodness. This year is definitely one of those years that you have to read […]
U.S. ethanol production moved modestly higher last week but stayed well below a million barrels as seasonal maintenance continues at some plants. The U.S. Energy Information Administration says production averaged 963,000 barrels a day, up 16,000 on the week and 18,000 on the year. Iowa State University’s Center for Agricultural and Rural Development says profit margins did improve for most producers and the USDA says cash ethanol prices were higher. […]
Ag Secretary Tom Vilsack has taken action to support response efforts to Highly Pathogenic Avian Influenza. The Secretary approved the transfer of nearly $263 million from the Commodity Credit Corporation to USDA’s Animal and Plant Health Inspection Service to help APHIS continue its work supporting state and local partners to quickly identify and address cases of HPAI in the United States. Secretary Vilsack previously approved the use of approximately $130 […]
The biofuels industry and EPA have reached an agreement to complete a rulemaking process for Renewable Volume Obligations (RVOs). Joe Kakesh, general counsel with Growth Energy, tells Brownfield EPA has until June 3rd to finalize its 2020 to 2022 RVO’s. “What this means is that we have some level of certainty that the EPA is going to abide by a deadline. Granted, these dates are far later then they should […]
