Economic headwinds could mean export cuts are a trend of the future

Oct 18, 2022

The USDA released its October WASDE report last week.

Dan Basse with Ag Resource Company says the surprise of the report was the decline in soybean yields under 50 bushels per acre and a smaller-than-expected drop in corn.

He notes the drop in soybean yield was not expected, and down a little lower than what traders were looking for.

"The USDA also cut combined corn, soybean, and wheat demand by 215 million bushels. Maybe that's the bigger story because, after the USDA report, the market rallied slightly, but has been declining since. I think amid the world that is showing economic headwinds, that indeed the export cut is maybe a trend of the future."

He notes with the drought in the U-S FOB (free on board) costs for US corn, soybeans and wheat have climbed.

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Video: Dicamba Returns for Georgia Farmers: What the New EPA Ruling Means for Cotton Growers

After being unavailable in 2024 due to registration issues, dicamba products are returning for Georgia farmers this growing season — but under strict new conditions.

In this report from Tifton, Extension Weed Specialist Stanley Culpepper explains the updated EPA ruling, including new application limits, mandatory training requirements, and the need for a restricted use pesticide license. Among the key changes: a cap of two ½-pound applications per year and the required use of an approved volatility reduction agent with every application.

For Georgia cotton producers, the ruling is significant. According to Taylor Sills with the Georgia Cotton Commission, the vast majority of cotton planted in the state carries the dicamba-tolerant trait — meaning farmers had been paying for technology they couldn’t use.

While environmental groups have expressed concerns over spray drift, Georgia growers have reduced off-target pesticide movement by more than 91% over the past decade. Still, this two-year registration period will come with increased scrutiny, making stewardship and compliance more important than ever.