Total US Soy Exports Add $39.8 Billion To US Economy In 22/23
U.S. Soy complex exports (whole soybean, soybean meal and soybean oil) added $39.8 billion[1] to the U.S. economy in marketing year (MY) 22/23 on a volume of 67.6 million metric tons (MMT). The shining star: U.S. soybean meal exports broke records for both volume and value at 13.2 MMT and $6.91 billion, respectively.
“U.S. Soy exports in marketing year 22/23 were nothing short of extraordinary. A standout achievement was the record-breaking performance of soybean meal exports, reaching unprecedented volume and value levels,” said Steve Reinhard, United Soybean Board Chair and Ohio farmer.
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What Drought Means For Panama Canal & US Exports
Your immediate concern for 2024 may be whether soil moisture fully recharges in your area before spring. However, another far-reaching impact from the drought occurring thousands of miles from your farm could also influence grain prices. Lack of moisture also affects transportation options and costs for grain headed for export.
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Port NOLA Awarded $73.77 Million U.S. DOT Grant for Louisiana International Terminal
The Port of New Orleans (Port NOLA) will receive $73.77 million from the federal government to assist in building the Louisiana International Terminal (LIT) project, which will provide an efficient gateway for the movement of cargo on the Mississippi River and the inland waterways of the United States.
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Low Water Levels May Plague Agriculture This Fall and Winter
From the Mississippi River to the Panama Canal, this year’s drought has resulted in low water levels that are likely to disrupt agricultural production and trade through at least the end of the year.
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Port of South Louisiana signs Memorandum of Understanding with Ukraine Sea Ports Authority
Today, the Port of South Louisiana (PortSL) and Ukraine Sea Ports Authority (USPA) signed a Memorandum of Understanding (MOU), launching a cooperative alliance directed at technical guidance toward planning, development, construction, administration, and operation and maintenance of port infrastructure, particularly when reconstruction begins in Ukraine. This non-binding agreement was signed by PortSL CEO Paul Matthews and USPA-head Yurii Lytvyn (not in attendance) and witnessed by Ukraine Consul General Vitalii Tarasiuk, Consul for Economic Issues Pavlo Moiseischenko, PortSL Commissioners Katie Klibert, D. Paul Robichaux, and Joey Murray, and PortSL staff.
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Non-Basmati White Rice Shortages Hit Stores Across US
"This is just another example of India playing games with global food security, citing concerns over domestic supplies despite tens of millions of metric tons in government stocks in addition to what's stored privately," said Bobby Hanks, a Louisiana rice miller and chair of the USA Rice International Trade Policy Committee.
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Why Does The Black Sea Grain Deal's Expiry Matter?
A deal allowing Ukraine to export grain via the Black Sea will expire at the end of Monday after Russia said it will suspend its participation.
The deal, brokered by the United Nations and Turkey last July, aimed to alleviate a global food crisis by allowing Ukrainian grain blocked by the Russia-Ukraine conflict to be exported safely.
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Mississippi River Dredging Project Enters Final Phase, To Bring Savings to Farmers
How can making the Mississippi River deeper by five feet in south Louisiana make a difference? For farmers across the country, it could mean millions of dollars saved. A dredging project from Baton Rouge to the Gulf of Mexico of just five feet means an additional 500 thousand bushels of grain can be put on ships headed around the world.
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US Exports Behind Schedule
It has been rough few days for market bulls as the Chicago wheat market scored fresh lows and the corn market tested long-term uptrend support just a few cents above the March lows. The July soybean didn't fare much better as they have taken out the long-term moving averages.
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6 States Hit Hardest With Mexico GM Corn Ban in Place
Farmers in six states would be hurt hardest if Mexico follows through with its proposed ban on genetically modified corn.
Ohio State University professor Ian Sheldon says Illinois, Iowa, Missouri, Nebraska, Kansas, and Louisiana are the top exporters to Mexico.
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U.S.-Mexico Corn Dispute Could Drag on All Year
If the United States takes its complaint against Mexico’s ban on imports of GMO white corn to a USMCA panel, it could take 155 days — until late December or even January — for a final resolution, although a U.S. victory is likely, said three Ohio State University analysts. Mexico would then have the option of keeping the ban in place and accepting U.S. sanctions because of it, they wrote at the farmdoc daily blog.
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Argentina's Loss May Be U.S. Farmer's Gain
For those who have slept since then, back in September USDA was estimating Argentina’s 22-23 corn crop at a record 55.0 million metric tonnes, up 2 MMT from the prior year. Soybean production was pegged at 7 MMT greater, at 51.0 million.
Now all that has changed.
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US Agriculture Sleeping On China's Historic Population Crash
American agriculture silently is watching the greatest disappearing act in world history. China, the biggest food importer on the planet, is entering the real-time throes of a potentially devastating population crash and the effect could be immense for U.S. farmers.
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China Approves GM Crops, Some After Decade-Long Debates
While Mexico and the United States are still at odds over Mexico’s proposed ban on GM corn, one of the world’s biggest agricultural markets, China, has ended its decade-long debates over GM alfalfa and canola this week.
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Geopolitics in Haiti Hits Breaking Point with Ceased Shipments of U.S. Rice, Government Requests Foreign Assistance
Since Prime Minister Ariel Henry’s September announcement that he was ending subsidies for fuel, violent protests and an uptick in gang violence has ravaged the country. This is an escalation of the violence, kidnappings, and theft of food, fuel, and other goods that have been a part of everyday life here since last year’s assassination of Haitian President Moise. U.S. rice exports have been, taken by gangs directly off ships, off trucks after discharging at port, and even taken from humanitarian warehouses.
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