Trade (Commodities)
Randy Krotz Randy Krotz
shared this article 3 years ago
Topics: Soybeans, Markets/Pricing, Agriculture US, Trade (Commodities), Ag South America,

GRAINS-Soybeans hit highest since mid-May on LatAm dryness; wheat, corn ease

SINGAPORE, Feb 23 (Reuters) - Chicago soybean futures rose for a fifth consecutive session on Wednesday, to their highest since the middle of May with dry weather in South America curbing production.Wheat and corn eased after strong gains in the last session, although losses were curbed amid escalating Russia-Ukraine tensions which could disrupt supplies from a key exporting region.FUNDAMENTALS* The-active soybean contract on the Chicago Board of Trade (CBOT) rose 0.5% to $16-43-3/4 a bushel, as of 0139 GMT, having climbed earlier in the session to $16.46 a bushel, the highest since May.* Whea

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John LaRose Jr. John LaRose Jr.
shared this article 3 years ago
Topics: Commodities, Agriculture Global, Economics, Trade (Commodities),
Nancy Kavazanjian Nancy Kavazanjian
shared this article 3 years ago
Topics: Agriculture Global, Ag Global Specialty Food, Trade (Commodities),
John LaRose Jr. John LaRose Jr.
shared this article 3 years ago
Topics: Corn/Maize, Commodities, Markets/Pricing, Crop Consultant, Agriculture Global, Trade (Commodities),
Nancy Kavazanjian Nancy Kavazanjian
shared this article 3 years ago
Topics: Agriculture US, Economics, Fertilizer, Trade (Commodities),

New Economic Analysis Has Farmers Raising Concerns about Looming Tariffs on Nitrogen Fertilizers

(January 12, 2022)– A new economic analysis released today by researchers at Texas A&M University has corn growers raising concerns that pending tariffs on nitrogen fertilizers will create shortages and cause prices to increase even more for farmers, according to the National Corn Growers Association. “As part of this study, we conducted an historical analysis going back to 1980 and found that fertilizer costs tend to go up when corn revenues increase,” lead researcher Joe Outlaw, Ph.D., noted. “Notably, these prices tend to go up exponentially even after accounting for natural gas prices and higher demand.” The study notes that the price of one type of nitrogen fertilizer, called anhydrous ammonia, increased by $688 per ton – $86,000 for a 1,000-acre farm – from the end of 2020 through the end of October 2021. “On our farm, we’re seeing prices three times higher than last year for our nitrogen fertilizer,” said Randy Poll, president of the Michigan Corn Growers Association. “In some instances, our suppliers are unable to guarantee that there will even be enough product available. These price increases are not sustainable for Michigan farmers.” The study has farmers raising concerns about a petition by CF Industries, one of the country’s major nitrogen producers, with U.S. International Trade Commission to impose tariffs on nitrogen fertilizers imported from Trinidad & Tobago and Russia. The U.S. Department of Commerce has since released a preliminary finding recommending tariffs, despite strong outcry from farm groups. “The proposed tariffs will create shortages and drive our costs up even higher,” Iowa farmer and National Corn Growers Association President Chris Edgington said. “They will add insult to injury and impose a financial hardship on family farms.” This academic study verifies that nitrogen prices erode profitability for family farms, Edgington said. “Our request is simple,” he said. “We’re just asking that these companies keep us out of their trade disputes, ...

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JAMES MSASA JAMES MSASA
shared this article 3 years ago
Topics: Trade (Commodities), Commodity/Trade Groups,
John LaRose Jr. John LaRose Jr.
shared this article 3 years ago
Topics: Agriculture US, Trade (Commodities), Government / Policies, Commodity/Trade Groups,

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