The agency's June report shows 2.12 billion bushels of corn are currently being stored on farm, up 22% from a year ago. On-farm soybean storage is up 51%.
Approximately 67% of the more than $6 billion projected to be paid through phase one of the Emergency Relief Program has been sent to producers with crop insurance who suffered losses due to natural disasters in 2020 and 2021.
Soybean acres are estimated at 88.3 million. That's up 1% from last year, down from March’s estimate of 90.955 million and below the pre-report trade average of 90.446 million.
Monarch Tractor says it has the first fully electric, driver-optional smart tractor, but the company has bumped against state regulations limiting its expansion.
