Tidbits, USDA Mistake, Fertilizer, Canada Tariffs, Cattle, Milk and Meat 10/24/26
Tidbits
USDA issued a statement about corn yields late Friday afternoon after most news people had left the office. The National Agricultural Statistic Service (NASS) said it had made several mistakes on its September 2026 corn production report for the states of Kansas and Nebraska which impacted ten state averages. However, rest assured, all those mistakes were corrected on the October corn production report. Why did they take two weeks to make the mistake public? You can read their explanation at: https://www.nass.usda.gov/Newsroom//Notices/2026/10-23-2026.php
Flash Sales: USDA announced yesterday the sales of 116,000 mts of old crop corn to unknown destinations.
Crude oil prices have surged once again, amid an escalating situation in the Middle East. The December contract reached a high of $103.92.
Tariffs for Canada: Yesterday afternoon, President Trump removed 50% tariffs on some Canadian agricultural and forestry products in a move that should benefit companies in Maine, where Republican Senator Collins is facing a stiff challenge to hold her Senate seat. Trump's order exempted plywood sheets, some paper products, certain machinery and refrigeration equipment, packing crates and boxes, as well as fresh and dried seaweed.
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