Agri-Pulse DriveTime

Despite near record yields many Midwestern crop farmers will see negative returns this year. The University of Illinois forecasts the average farm will lose $30,000 this year.

The USDA's October WASDE report was largely in line with the September forecast and private analysts estimates.

Economic reports suggest the U.S. economy is bringing inflation closer to the Federal Reserve's targets. Farmers in Brazil are receiving much needed moisture to help with planting.

Hurricane Milton is spawning tornadoes in Florida in advance of expected landfall in a few hours. The storm represents the fourth major hurricane to strike the state in the last 14 months.

A meeting at the White House today provided an exchange of information between the Biden administration and a few agriculture groups invited to participate.

Hurricane Milton increased to a Category 5 storm today and is expected to make landfall late Wednesday threatening damage to areas already suffering from Hurricane Helene less than two weeks ago.

This week’s Open Mic guest is Mike Seyfert, President and CEO of the National Grain and Feed Association. Most in the ag industry were relieved that dockworkers were back on the job following an agreement on wages that allowed East Coast and Gulf ports to reopen last week. Seyfert says container shipments are an integral factor in meeting global customers demands for a number of U.S. agricultural products. Prior to his tenure at NGFA, Seyfert had an extensive career on Capitol Hill. He recognizes the challenges of  seeing a farm bill approved by the end of the year, but says the industry needs new policy now.

Agriculture groups are relieved that Gulf and East Coast ports are back open. European regulations on deforestation may be pushed back.

As the death toll climbs from Hurricane Helene, crop damage is being measured much further west than the epicenter of the storm.

The impact of the East and Gulf Coast port strike ripples through the economy and can stymie container shipping of U.S. soybeans and soy products to global customers.