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Evening Edition | Friday, June 11, 2022

In tonight’s Evening Edition, read about the USDA Supply and Demand Report, legislation for agriculture, and drought conditions across the Corn Belt.

World Agricultural Supply and Demand Estimates

Friday’s World Agricultural Supply and Demand Estimates (WASDE) show a drop in both old and new crop U.S. ending soybean stocks compared to a month ago and trade expectations.

World soybean ending stocks were increased slightly, Dan Looker reports.

The USDA’s U.S. corn outlook is for larger beginning stocks, slightly higher use, and increased ending stocks.

Watch the video for additional data.

Legislation for Agriculture

Concerned by rising production costs and the longevity of sky-high commodity prices, farm-state lawmakers floated margin protection for crop growers and standby farm disaster programs on Thursday for inclusion in the 2023 farm bill.

However, farm bill funding may be tight, which could limit Congress’ ability to add new features to the farm program, reports Chuck Abbott.

The House could vote as early as next week on an omnibus bill that would allow summertime sale of E15, create a special investigator’s office at the USDA to enforce fair-play laws in meatpacking, and help farmers adopt so-called precision agriculture technology.

The legislative amalgam was titled the Lower Food and Fuel Costs Act, though the senior Republican on the House Agriculture Committee said it would accomplish neither.

Drought Monitor

Editor Natalina Sents Bausch writes, "Across the Corn Belt there were few changes to drought conditions in the seven-day period ending June 8."

However, we’re entering a period of the growing season where that can change quickly, says Iowa’s State Climatologist Justin Glisan. June 1 marks the start of meteorological summer.

If the normal warmer and dryer patterns of the season hit at the same time a thirsty crop is emerging, surface soil moisture can disappear quickly.

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