U.S. grain prices have surged since the Iran war began, triggering a flurry of corn and soybean sales by farmers who squirreled away last year’s harvests due to weak prices.
The Trump administration has settled on a plan that would require big oil refineries to make up for at least half of the biofuel blending volumes obligations waived in recent years under the Small Refinery Exemption program, according to three sources familiar with the discussions.
Pasture lands have been stripped down to a sea of sand after wildfires tore across the U.S. Plains, killing cattle and wiping out their food sources, and threatening a historically small herd already linked to rising beef prices.
As the U.S. Department of Agriculture prepares to dole out $12 billion (C$16.4 billion) in government subsidies next week, officials and economists at the agency’s annual forum near Washington defended the assistance as a necessary measure to prevent more farmers from financial ruin.
U.S. President Donald Trump on Friday signed a proclamation to hike the country’s low-tariff imports of Argentine beef, though economists have said the attempt to lower costs for American consumers will likely have little impact on prices.
China is considering buying more U.S.-farmed soybeans, President Donald Trump said after what he called “very positive” talks with President Xi Jinping on Wednesday, even as Beijing warned Washington about arms sales to Taiwan.
The chair of the U.S. Senate’s agriculture committee warned on Tuesday that farmers were suffering heavy losses, while more than two dozen former industry leaders sounded the alarm about the risk of a “widespread collapse of American agriculture” ahead of a $12 billion government bailout expected to reach growers this month.