Harvest, planting updates for corn, soybeans, wheat | Winter wheat states still need moisture | Mexico makes largest 2020 US corn purchase
November 2, 2020
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Legislation and Policy
The USDA has sent more than $7.6 billion in direct payments to farmers from the $14 billion second round of Coronavirus Food Assistance Program funding. The agency has approved more than 443,000 farmers for second-round payments so far.
Full Story: Agri-Pulse (tiered subscription model) (10/26) 
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Weather and the Economic Climate
The corn harvest increased by 12% last week to 72%, and 83% of the nation's soybeans are in, according to the USDA. Winter wheat is 85% planted with 62% emerged and 41% rated good-to-excellent in its first crop quality report of the season.
Full Story: Farm Progress (10/26) 
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Last week's Great Plains snowstorm did little to alleviate drought conditions in the winter wheat-producing parts of Kansas, Oklahoma and Colorado, said Justin Gilpin, CEO of Kansas Wheat. Winter wheat rated good-to-excellent in those states ranged from 29% in Kansas to 24% in Colorado and 11% in Oklahoma.
Full Story: Baking Business (free registration) (10/29) 
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Mexico has purchased 1.43 metric tons of corn, marking its largest corn buy from the US since last December. Purchase activity from Mexico may increase, because its government has nearly eliminated subsidies to large farms.
Full Story: Reuters (10/29) 
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Trends and Tips
Producers are encouraged to sell most of their soybeans now with the USDA's Oct. crop report indicating prices are expected to decrease, but it's likely worth it to store corn, according to Jim Mintert, Purdue University Extension agricultural economist. "It appears there could be opportunities to store corn and sell on forward contract, or practice storage hedging for later delivery and make a profit for storing above storage and opportunity costs," said Mintert.
Full Story: Indiana Prairie Farmer (10/29) 
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Project seeks to grow sweet potato profits
Researchers, as a part of the North Carolina Plant Sciences Initiative, have kicked off a three-year project that aims to use big data to make sweet potato production more profitable. The multidisciplinary team will use images of sweet potatoes and a range of data on growing conditions to promote more growth of sweet potatoes that can be rated USDA Grade 1.
Full Story: Ag Funder News (10/28) 
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Farmers, ag leaders, equipment dealers -- everyone involved in agriculture -- agrees that crop insurance should remain a viable and affordable tool for managing risk.
Richard Gaona, president of Rolling Plains Cotton Growers
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