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OPEC+ Countries Reach Deal to Reduce Oil Production
Published April 13, 2020
Russia, Saudi Arabia and other oil-producing countries have reached an agreement to cut oil production by 10 million barrels per day. This is the largest production cutback in history. North Dakota Senator John Hoeven describes this as “a welcome step”…Dairy Management Inc. Adjusts Business Plan
Published April 10, 2020
Dairy Management Incorporated is shifting its business plan. The dairy checkoff’s leadership sent a letter to Agriculture Secretary Sonny Perdue outlining changes including a focus on four areas: schools, hunger and food service, industry partnerships and retail. "The checkoff's mission…Additional SBA Loan Funding on Hold
Published April 10, 2020
Senate Democrats objected a vote to add $250 billion to the Paycheck Protection Program. The lawmakers said the measure failed to address more urgent needs. While there has been a strong interest in small business loans, Minnesota Senator Tina Smith…Analysts Shift Attention to Planting Progress
Published April 10, 2020
Now that USDA’s April Supply and Demand report is out, planting the 2020 crop is the next focus for traders. Planting progress will vary by region. "We're well aware in central Illinois what farmers in the Northern Plains are dealing…Potato Industry Looking at Scope of Coronavirus Impact
Published April 10, 2020
The National Potato Council is working to capture the coronavirus impact on U.S. potato growers. There is a lack of demand for potatoes in the food service industry. "Our supply chain is backing up and it's impacting 2019 storage potatoes…Trump Pledges Support for Agriculture
Published April 10, 2020
President Donald Trump went on-air and online to show his support for farmers Thursday. Comments were made during the White House news briefing on coronavirus. "We have money going out to our farmers in the pretty near future," said Trump.…Ag Groups Working to Determine COVID-19 Impact
Published April 9, 2020
Agriculture groups are working with the USDA to determine the economic impact of the coronavirus. The National Association of Wheat Growers is getting recommendations from growers across the country and paying attention to any disruptions taking place at ports. "We're…Lower Ethanol Demand Impacts Northern Plains Farmers
Published April 9, 2020
The Northern Plains corn producer could be impacted more by lower ethanol demand that Midwestern farmers. "As we see plants going offline because of poor profit margins, the net impact will be a wide basis," said Bob Utterback, president, Utterback…USDA Report Confirms Large U.S. Ending Stocks
Published April 9, 2020
USDA’s April Supply and Demand report confirms larger U.S. ending stocks of corn, soybeans and wheat. All were within the range of trade guesses. USDA raised corn ending stocks to 2.09 billion bushels on lower ethanol demand. That more than…