September's WASDE Report and Climate Groups on Meat-Dairy Funding
From the Ag Information Network, this is your Agribusiness Update.
**The USDA released its September World Agricultural Supply and Demand Estimates that say this month’s 2024-25 corn outlook is for smaller supplies and a modest decline in ending stocks.
The season-average corn price received by producers was lowered ten cents to $4.10 per bushel.
The 2024-25 wheat outlook is quiet relative to last month.
The projected season-average farm price for wheat remains steady at $5.70 a bushel.
**Over 100 climate groups are pressuring JPMorgan Chase, Citigroup, and other banks to stop financing global meat and dairy companies.
An open letter calls for a halt on any new financing that expands industrial livestock production and to add requirements that meat, dairy, and feed clients disclose their climate action plans.
The letter calls out the banks by name for supporting the world’s biggest meat and dairy producers like JBS, Tyson, and others.
**The National Corn Growers and American Soybean Associations don’t like a recent recommendation from the Department of Commerce for the imposition of countervailing duty rates on imports of the herbicide 2-4D.
The decision comes at the request of herbicide producer Corteva, who filed a petition calling for antidumping and countervailing duties on imports of the herbicide from certain foreign suppliers.
Farmers say their demand exceeds the domestic supply, and foreign sources help to fill the gap.
