Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211


Agricultural News

COVID-19 and China Key Factors in Latest FAPRI Analysis of US Agriculture

Thu, 27 Aug 2020 13:38:05 CDT

COVID-19 and China Key Factors in Latest FAPRI Analysis of US Agriculture The University of Missouriís Food and Agricultural Policy Research Institute's latest baseline report reflects corn losses stemming from the derecho in Iowa earlier this month. FAPRI released its August baseline report Wednesday. According to the report, corn-planted area in 2020 is projected to be 92.0 million acres, a sharp decline from March intended acres. A modest downward adjustment in Iowa corn yields, given the derecho event, pushes the production estimate 203 million bushels lower than USDA's estimate to 15.075 billion, a record production volume. Carryout stocks sharply increase, and corn farm prices are expected to fall to $3.24 per bushel.

Meanwhile, projected soybean-planted area rose to 83.8 million acres in 2020/21, up sharply from last year. Soybean stocks hold steady in 2020/21 as a strong growth in exports is offset by a rebound in production, in part, on above-trend yields. Farm prices for soybeans hit a recent low of $8.24 for 2020/21.

The think tank believes that wheat prices will remain largely unchanged and will average around $4.80 per bushel- "given large global supplies and demand-side competition with corn. Wheat acreage continues to decline- falling below 44 million acres- on relative returns to corn and soybeans."

For the livestock sector- "Supply chain disruptions to COVID-19 have increased the cost of processing livestock and dairy products. These impacts should moderate in 2021 but will still pressure the producers' share of consumers expendictures."

FAPRI concludes in the summary of their Price Baseline update released August 26th that "Markets will continue to evolve as we get more information about the pace of economic recovery, the size of the 2020 crop and the state of the Phase One Trade Agreement fulfillment."

Click here for the complete report as released by FAPRI.



WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Friday Preopening Market Update with Dave Lanning  Fri, 18 Sep 2020 07:19:24 CDT
  • Feeder Steers and Feeder Heifers Higher, Steer and Heifer Calves Steady at Woodward Livestock  Fri, 18 Sep 2020 05:04:23 CDT
  • 2020 NFU Fall Legislative Fly-In AFR/OFU Thursday Briefing  Thu, 17 Sep 2020 17:17:13 CDT
  • Thursday, September 17, 2020 Market Wrap-Up with Justin Lewis  Thu, 17 Sep 2020 15:39:22 CDT
  • Drought Conditions Improve For Oklahoma As The Nation Focuses On Western Wildfires  Thu, 17 Sep 2020 15:46:05 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Thursday September 17  Thu, 17 Sep 2020 15:15:47 CDT
  • OSU's Kim Anderson Analyzes this Years Wheat Prices Vs. Last Years Prices   Thu, 17 Sep 2020 15:09:14 CDT
  • USDA Announces Contracts for Round 3 of the Farmers to Families Food Box Program   Thu, 17 Sep 2020 13:16:01 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.

    Our Road to Rural Prosperity sponsors!


    Search OklahomaFarmReport.com

    © 2008-2020 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.