Grain Plantings Mixed and Ocean Shipping Reform Act
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The USDA’s National Agricultural Statistics Service estimated corn planted area for all purposes in 2022 will be down 4% from last year.
Estimates for soybean planted area for 2022 is up 4%.
All wheat planted area is up 1% from 2021 but is the fifth lowest since records began in 1919.
All cotton planted area for 2022 is estimated up 9%.
www.morningagclips.com/southern-region-prospective-plantings-2/
**In response to port congestion, the Senate passed the Ocean Shipping Reform Act, making it more difficult for ocean carriers to refuse to load American goods ready to get shipped from U.S. ports.
Some shipping lines find it more profitable to haul empty shipping containers back to Asia than carry loaded containers.
The Senate bill would require carriers to prove they’re being reasonable when they levy late fees for cargo and be prohibited form unreasonably refusing to load cargo at U.S. ports.
**Farm and renewable fuel supporters weren’t happy the Biden administration is allowing the release of petroleum from the strategic oil reserve.
The Hagstrom Report says the White House is making the move in response to high gasoline prices.
Ken Colombini, President and CEO of the Renewable Fuels Association, says it’s baffling that the president continues to bypass ethanol. “it’s the most readily-available, lowest-cost, and lowest-carbon option for extending the nation’s fuel supply.”
