The U.S. government will begin issuing major agricultural reports at midday, when Chicago trading is in full swing, abandoning the early morning release of the world’s most important crop data after almost two decades. After a months-long debate following the adoption of nearly around-the-clock futures trading, the U.S. Agriculture Department said Wednesday that from January […] Read more
U.S. shifts key crop report release time to midday
USDA finds drought hurt world’s crops less than feared
Searing droughts in the United States and Russia will deplete harvests of wheat, corn and soybeans, the U.S. government said on Wednesday, but global food supplies were not hurt as badly as many had feared. With the U.S. harvest off to a fast start, the U.S. Department of Agriculture said the country’s corn crop would […] Read more
House passes $383 million us drought aid bill for ranchers
The U.S. House of Representatives passed a $383 million disaster relief bill on Thursday that provides political shelter for lawmakers during the worst drought in half a century, but may not release the aid for months to come. Nearly two-thirds of the continental United States, including prime ranch and farm territory, is in the grip […] Read more
Standoff looms over U.S. plans to cut GMO oversight
Efforts to write benefits for biotech seed companies into U.S. legislation, including the 2013 Farm Bill, are sparking a backlash from groups that say the multiple measures would severely limit U.S. oversight of genetically modified crops. From online petitions to face-to-face lobbying on Capitol Hill, an array of consumer and environmental organizations and individuals are […] Read more
USDA jolts traders with sharp cut to corn estimate
The worst Midwest drought in a quarter century is doing more damage to U.S. crops than widely believed, already shrinking corn yields to the lowest in nearly a decade, the government said on Wednesday. In a report that reignited a near-record rally in grain prices, the U.S. Department of Agriculture said the crop will average […] Read more
USDA to close 249 offices in cost-saving move
The U.S. Agriculture Department plans to close 249 offices this year — half of them the local offices that deal with farmers — in a cost-cutting program, Agriculture Secretary Tom Vilsack announced Monday. USDA says the package will save $150 million a year and help reduce the yawning federal deficit. Vilsack announced the closures in […] Read more
Big world grain crops ease tight supply: USDA
The world is harvesting its largest-ever wheat, corn and rice crops this year, easing tight supplies that drove world food prices to record levels earlier this year, the U.S. government forecast on Friday. With the abundant harvests, including a record wheat crop in Australia, world stockpiles will gain a modest cushion against after successive years […] Read more
U.S. budget hawks eye $5B ag subsidy
(Reuters) — A direct payment subsidy that guarantees U.S. farmers $5 billion a year is the most prominent target in agriculture’s complex web of subsidies as budget-cutting Republicans flex their new legislative muscle in the House of Representatives. Created in 1996, the subsidy is a point of dispute in farm country. Some farm groups want […] Read more
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