IARN — According to three ethanol-industry sources and shipping data, a rare U.S. ethanol shipment will arrive in China very soon. This may be the first ethanol shipment to hit China since the two countries struck a trade deal earlier this year. China recently waived some additional tariffs on almost 700 American products, including ethanol, to support more purchases of U.S. farm goods to help meet its obligations in the Phase One trade deal. Since China made the move, the ethanol industry has been watching for signs of renewed trade in the biofuel. Read more
U.S. Pork And Beef Exports Record First Quarter Increases
IARN — U.S. Meat Export Federation staff announce, “United States pork exports completed a tremendous first quarter with new March records for volume and value.”
Analysis of data released by the U.S. Department of Agriculture shows “beef exports trended higher year-over-year in March, establishing a record first quarter pace.”
U.S. Meat Export Federation (USMEF) president and CEO Dan Halstrom comments on first quarter growths below. Read more
Dairy Exports Are Doing Surprisingly Well During Pandemic
IARN — The dairy industry has been taking its lumps during this pandemic. While other segments of the Ag industry have as well, dairy was looking for this to be a year of rebound. However, we just learned the Farm Service Agency says margins were low enough in March to trigger the Dairy Margin Coverage programs. Now, we have news from the export side. Read more
March Margin Triggers Dairy Margin Coverage Payment
IARN — The Department of Agriculture’s Farm Service Agency (FSA) announced this week that the March triggered the first payment to dairy farmers enrolled in the Dairy Margin Coverage (DMC) program. The March income over feed cost margin was $9.15 per hundredweight. Current projections indicate that a DMC payment is likely to trigger every month for the remainder of 2020, a different expectation from last July when some market models had forecast no program payments for 18 months. FSA Director Richard Fordyce says the payment “comes at a critical time for many dairy producers,” noting it is the first payment to dairy producers in seven months. Read more
Rep. Finkenauer: “We Must Remain Vigilant To The Needs Of Rural Areas”
IARN — Congressional leaders offered financial support for small business owners under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Lawmakers now weigh the value of appropriated funding, which is filtered through the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL).
Representative Abby Finkenauer (IA-01) on Wednesday chaired a virtual forum on the economic challenges facing rural communities amid the coronavirus pandemic Read more
Ernst Questions EPA’s Wheeler Over RFS In Committee Hearing
IARN — Yesterday the Senate Environment and Public Works Committee heard testimony from Environmental Protection Agency (EPA) Administrator Wheeler on a wide variety of topics. Iowa Senator Joni Ernst sits on that committee, and she tells us she had a few questions for Administrator Wheeler about the Renewable Fuels Standard (RFS). Read more