World ag outlook downgraded
A major World Agriculture Supply and Demand Estimates Report was out this week, reducing the outlook for beginning and ending stocks. Beginning stocks are down 150 million bushels, reflecting the projected increase in corn use. Corn for ethanol is up 75 million bushels and weekly ethanol production along with refiner and blender net inputs during May indicate demand is almost back to pre-COVID levels.
Exports are up 75 million bushels and season average farm price is unchanged at $5.70 per bushel. Foreign coarse grain is in for greater production, slightly higher trade and larger ending stocks. In oilseeds, the supply and use projections include higher beginning and ending stocks.
Soybean crush for the next year is down 15 million bushels to 2.175 billion based on lower meal forecasts and higher imports. Oil exports are down 400 million pounds to 1.9 billion as high U-S prices reduce competitiveness in the world market. Ending stocks are projected up 15 million from last month at 155 bushels with prices unchanged.
Catching up with Dr. Jewel Bronaugh
This past week a leader of the U-S Department of Agriculture caught up with a bunch of farm journalists to chat about the start of her term. Dr. Jewel Bronaugh was only confirmed as Deputy Secretary of Agriculture a few weeks ago and calls the opportunity an honor.
She says there has been a lot to do but she’s looking forward to the end of COVID lockdowns so she can visit the states and the myriad of agriculture across the country and learn about the important work of what the different departments are doing. But for now, as the Chief Operating Officer of the USDA, she’s helping plan so the department can move to more than 25%t work capacity.
“Personnel issues, IT issues, we’re having lots of conversations about return to work. How do you return an agency of 90,000 plus employees safely back to work after people have worked throughout the pandemic in a variety of ways? So those are some of the issues I’ve been discussing today,” says Dr. Bronaugh.
She describes other important work as nutrition and rural broadband. Another one of her roles is prioritizing getting positions filled in Kansas City after a major USDA office was moved there from Washington.
Since she’s been confirmed.. Bronaugh says she’s been working alongside the secretary to push forward administration priorities. “And know those of course are focusing on things like climate change, really trying to deal with some of the health impacts of COVID, racial equity, and how we’re going to build our rural economies back better,” Dr. Bronaugh says.