Evening Edition | Friday, August 19, 2022
In tonight's Evening Edition, read the latest about trade opportunities and markets for agriculture, the market for used combines, and financial assistance for natural disasters.
Agriculture Trade and Markets
Editor Cassidy Walter reports on a round table event with Secretary of Agriculture Tom Vilsack, U.S. Trade Representative Katherine Tai, and U.S. Representative Cindy Axne.
Stakeholders discussed the burden of rising input costs and Mexico's hostility toward biotechnology in corn.
Secretary Vilsack teased upcoming announcements of support from USDA of domestic fertilizer production to help ease the pain farmers are feeling. He also underscored the administration’s efforts to raise farmer income by growing trade opportunities.
"As we edge back to 'normal,' prospects for a price rally of last year’s magnitude are slipping," writes Bryan Doherty of Total Farm Marketing.
A significant price advance in the energy complex followed by the war in Ukraine brought money into commodities and moved prices higher.
Now, as the harvest for 2022 approaches for the Northern Hemisphere, concern that inflation will slow world economic growth has many concerned that a return to bull markets in not likely.
With most of the wheat and barley tucked in bins and elevators, and corn threatening to dent, this is the time of year used combine prices are “vigorous,” at best.
Sellers are sticking to their guns when it comes to asking prices.
Before selling or dealing, hit the internet and establish a firm price figure you must have. Then stick to that price like glue. After all, it’s a sellers’ market.
- READ MORE: It's a sellers' market for like-new combines
Emergency Relief Program
Another phase in assistance to commodity and specialty crop producers impacted by natural disaster events in 2020 and 2021 is underway, the USDA announced Thursday.
More than 18,000 producers will soon receive new or updated pre-filled disaster applications to offset eligible crop losses.
Approximately $6.4 billion has already been distributed to 165,000 producers through USDA’s Farm Service Agency’s Emergency Relief Program.