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  • Revision of 2020 Crop Budgets with COVID-19 Induced Lower Corn and Soybean Prices
    Illinois crop budgets for 2020 have been revised with lower corn and soybean prices: $3.30 for corn and $8.30 for soybeans. Given trend yields, these prices will result in negative returns. At this point, projected corn returns are lower than…
  • Implications of 97 Million Corn Acres
    The Prospective Plantings report, released on March 31, indicated producer intentions to plant almost 97 million acres of corn in 2020. Under current planting intentions and consumption trends, a massive corn supply appears feasible during the 2020-21 marketing year.

Agriculture News

U.S. KEEPS PROCESSING SEASONAL WORKER VISAS AFTER WARNING FROM FARMERS

The State Department said Thursday it would keep processing visas for seasonal workers, after earlier saying it would suspend routine visa services in most countries indefinitely. The reversal came as lawmakers pushed the administration to do whatever possible to keep seasonal workers, most of whom come from Mexico, in the pipeline. Farmers warned the suspension could threaten their livelihoods. (Wall Street Journal)  

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HOMELAND SECURITY DEEMS AGRICULTURE AS ‘CRITICAL INFRASTRUCTURE’

The Trump administration has labeled agriculture as a critical industry in the wake of the coronavirus outbreak, allowing businesses to continue operating as usual amid current and potential restrictions created to stem the spread of the virus. (Agri-Pulse)

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BIOFUEL PLANTS BRACE FOR POTENTIAL SHUTDOWNS

As fuel prices begin to drop nationwide, ethanol and biodiesel plants are making hard decisions as to whether to shut down or idle production. The Renewable Fuels Association and several other organizations are asking Congress and the White House in a letter to provide credit to pay workers, suspend business taxes, and amend the tax code to restore the ability of businesses to carryback any net operating losses against previous year tax payments. (Agri-Pulse)

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U.S. GROCERY MEAT SUPPLY TO IMPROVE SOON

Demand for U.S. meat at grocery stores will likely exceed supplies for at least another week, the chief executive of Tyson Foods Inc told Reuters on Thursday, as the coronavirus pandemic fuels panic buying among shoppers. (Reuters)

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AMERICA HAS A LOT OF FOOD. MOVING IT IS TRICKY.

You wouldn’t know it from the bare grocery store shelves across the country, but America has plenty of food. The challenge is getting it from the farm to your table. Restaurant closures and shoppers’ rush to stock their pantries are forcing the agriculture industry to boost production, hire new employees and set up “war rooms” to keep grocery stores stocked. (Wall Street Journal)

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SCHOOL DISTRICTS GET CREATIVE TO FEED STUDENTS

Pop-up food systems, grab-and-go meal pickups, school bus routes. These are just a few ways localities are supplying food to low-income students — more than 22 million of whom rely on school meals as their main source of nutrition — who are now staying home due to the coronavirus outbreak. (Politico)

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