Latest News From Tyne Morgan

USDA Sec. Tom Vilsack is scheduled to travel to Nebraska Friday for what the agency is calling a "major announcement." It could include details of the Biden Administration's plan to create more competition within ag.

After more than a decade of legislative proposals, the Biden Administration is preparing plans to allow equipment owners to have the right to repair their own equipment. AEM and John Deere responded to the planned order.

Wet weather forecasts across the Midwest caused commodity prices to tank Tuesday, with soybean oil and corn hitting the daily limits lower. Much of the Midwest is forecast to receive rain at key pollination time.

U.S. farmers' optimism about current and future conditions are seeing a sharp decline to start the summer, as a monthly gauge of producer sentiments hit the lowest reading since July 2020. 

As June closed on a wetter note for portions of the Midwest, three agricultural meteorologists forecast July, indicating continued rains for the corn crop in some areas, but drastic drought areas growing even drier.

As USDA prepares to post its June 30 planted acreage report, the trade expects U.S. acres to increase. Farmers from Michigan to Mississippi weigh in on how much their planting plans did or didn't change since March.

Rains continue to fall across portions of the Midwest this week, a sign one ag meteorologist says could mean Midwestern drought conditions have peaked. However, the news isn't as promising for the northern Corn Belt.

After months of negotiations, President Biden and announced Thursday a deal was reached on an infrastructure spending plan. The news came after a meeting with a bipartisan group of senators Thursday.

Areas of the Corn Belt in need of moisture are finally seeing rain this week, but it came with severe crop damage to portions of Iowa after hail wiped out some farm fields this week.

USDA's weekly Crop Progress report released Monday shows the corn crop condition ratings fell nationwide, down to 65% good to excellent. That compares to the 68% rated posted last week.

The Department of Justice filed court documents Friday in defense of USDA’s plan to forgive debt for socially disadvantaged farmers. The filing is in response to a Judge's recent ruling to halt the payments.

As higher commodity prices could entice more farmers to make technology investments, Ken Ferrie expects the use of variable rate technology to grow over the next five to 10 years.

Soybean prices saw the largest single-day drop in history on Thursday. Prices crashed vigorously, with July and August soybeans down more than $1 on Thursday. This tops any one-day record for a deferred contract.

A 17-year conflict over aircraft subsidies is coming to a temporary close as the U.S. and European Union have agreed to a truce, and it could spill over into a positive move for certain U.S. agricultural goods. 

Just before leaving for the G-20 Summit in Italy this week, USDA Secretary Tom Vilsack told leaders from around the globe that agriculture will lead the way in creating climate solutions. 

It's a steady theme since USDA introduced corn crop condition ratings this year. The quality of the crop continues to decline, with corn dropping 4 points each week.  Soybean conditions also fell.

The change in the weather forecast sent commodity prices plummeting Monday. Corn and soybean prices saw pressure after the weather models produced an outlook for wetter and cooler weather by the end of the week.

USDA’s June World Agricultural Supply and Demand Estimates (WASDE) caused corn prices to hang on to the day’s gains, but spurred soybean prices to tumble Thursday.

Nationwide, USDA shows 72% of the corn crop is rated good to excellent, which is a 4 percentage point drop from last week. This week's rating is also 3 points behind last year. 

One week after a cyberattack shut down meat packing plants in three countries, U.S. officials seized the cryptocurrency payment that was made during the Colonial Pipeline hack less than a month earlier.

The world’s largest meat producer was the latest victim of a cyberattack. And as the food chain relies more on automation and less on manual labor, cyberattacks may be a rising risk for the food chain.

USDA's report this week showed 76% of the U.S. corn crop is rated good to excellent, 2 points better than last year. The ratings are causing confusion for farmers seeing struggling crop stands due to weather extremes.

Just this week, reports showed Biden was willing to compromise with the GOP on his infrastructure plan by lowering the minimum corporate tax rate of 15%.

The final days of May were soggy and cold for areas of the Plains, which was a sudden switch from the dryness headlining the weather year so far. The wet weather could dampen outlooks for winter wheat harvest in areas.

USDA meteorologist Brad Rippey says northern Iowa saw the third latest freeze in history, only behind the years 1897 and 1947. The damage is now exposed in fields, with acres of no-till soybeans wiped out.

Even with rains hitting areas of the Plains and Corn Belt last week, U.S. corn planting progressed to 95% complete, a five-point bump in a week and three percentage points ahead of last year's pace. 

The dire drought situation is one USDA meteorologist Brad Rippey thinks could last through at least the remainder of 2021. Forecasts also point to a drier weather pattern returning for Texas and the Plains.

The Biden administration is out with the fiscal year 2022 budget proposal, calling for more money within USDA to support climate research and racial injustice.

As rains drop needed moisture for areas of the country dealing with drought and in need of relief, the situation is growing more dire in the West.

The National FFA Organization announces it has named Scott Stump as its new chief executive officer (CEO), effective Monday, June 21. Stump also takes the leadership role as CEO of the National FFA Foundation.

A White House listening session with vice president Kamala Harris focused on broadband connectivity. Missouri farmer Meagan Kaiser was one of six participants and spoke to the struggle for farmers and rural businesses.

Corn prices came under pressure Tuesday. With July corn falling 37 cents to end the day to close at $6.20, the closing price on Monday marked a one-month low. 

A Kansas farmer and his crew had a close call Monday night as they had front-row view of the confirmed tornado that touched down near Selden, Kansas Monday. Footage shows the moment the tornado ripped through.

Calls for change came to a head this month, as cattle groups held an industry-wide meeting made history. And the groups say the first meeting is just the start.

USDA's latest Crop Progress report shows corn planting jumped 10 points in a week, now sitting at 90% complete. Only two states are seeing planting progress behind the five-year average.

The latest Rural Mainstreet Index soared to a reading of 78.8, up from the 69 posted in April. The survey also found 60.6% of bank CEOs reported a local economy that expanded from April to May.

China's appetite for new crop corn is now sitting in uncharted waters. China has committed to purchasing 321.2 million bushels, or 8.15 million metric tons, since May 10, and analysts say there are two main drivers.

The Ag Credit Survey from the KC Federal Reserve shows strong profit potential for farm borrowers is helping support a second consecutive quarter of increasing farm incomes, loan repayment rates and farmland values.

Inflation concerns are heating up as fresh data from the Labor Department shows U.S. consumer prices have risen more than 4% over the past year, marking the sharpest increase since 2008.

A significant fracture on the I-40 bridge is now shut down to not only vehicle traffic, but barges until the issue can be fixed. The emergency shut down is a barrier for barge traffic along the Mississippi River.

As soybean supply concerns continue to impact the market, USDA’s fresh look at 2020/2021 ending stocks in the May WASDE report paints a scenario where soybean supplies will remain extremely tight.

Fuel prices were already on the rise, but now a cyber attack on one of the largest fuel pipelines in the U.S. is creating fears about possible shortages. One group says ethanol could help ease supply constraints.

Restaurants closing early. Sign after sign plastered along roadsides with businesses looking for help. The hiring issue is crippling everything from manufacturing to the restaurant industry today.

The USDA Crop Progress Report revealed 70% of South Dakota's subsoil moisture is considered short to very short.  One South Dakota farmer says it's a dire situation, one keeping him from planting his corn crop yet.

A tradition for more than 100 years will now be a thing of the past. The CME Group announced this week it's not reopening the open outcry pits on the trading floor, which means the tradition will be gone for good.

The Renewable Fuels Association (RFA) says China’s buying increased to 48.3 million gallons in March, which is the second largest monthly export total ever on record, just missing the high set in April 2016.

Drier weather helped aid major planting progress for U.S. farmers last week, but it didn’t help the topsoil moisture situation. USDA's Crop Progress report indicates 55% of the U.S. topsoil is considered ‘adequate.'

A wide-open week with dry weather helped farmers make large strides in planting progress. USDA shows as of Sunday, May 2, 46% of the corn crop had been planted, a 29-point jump in just a week.

Lumber prices are up 359% since last year at this time, with a 69% increase taking place since the start of 2021, prices not trickling down to producers. And there are three factors aiding to the surge in prices today.

In a venture to produce cleaner energy, big oil is turning to soybean oil. In April, Phillips 66 announced an investment in a soybean-processing plant in Iowa.