USDA

FM-area producers face lower wheat, corn, and soybean prices as harvest progress, potential Ukraine-Russia peace talks, and economic uncertainty pressure commodity markets, per Martinson Ag Risk Management's Oct. 30 Agweek Market Wrap.

FM grain producers holding remaining bushels face continued price uncertainty driven by a USDA corn data correction, a weaker Brazilian real pressuring soybean export competition, and fund selling in corn.

Minnesota's strong crop results from the Pro Farmer Crop Tour are directly relevant to FM-area grain producers and agribusiness, as Minnesota corn hit 199.01 bu/acre and soybean pods came in 15.4% above the three-year average.

FM-area grain farmers with base acres in corn, soybeans, wheat, and other program crops are likely to receive farm program payments, with estimated payouts ranging from $10 to $50 per base acre depending on crop and PLC yield.

Randy Martinson of Martinson Ag Risk Management notes July was a good month for grain markets overall, with North Dakota wheat yields and Black Sea export disruptions among key factors FM agricultural businesses are watching.

With National Weather Service forecasting mid-July highs in the 80s–100s across the region, FM-area livestock producers face heat-stress risks that USDA estimates cost the cattle industry alone up to $75 million between 2012 and 2022.

The National Proving Grounds Network™ for AgTech, announced by the USDA, is relevant to FM's agriculture and technology ecosystem as covered by Emerging Prairie.

A guest column recognizes Sen. Hoeven and the USDA for elevating North Dakota's role in ag innovation nationwide, a topic relevant to FM's agriculture-connected business community.