Four days ahead of USDA’s March Prospective Plantings Report, FBN released acreage survey results of its farmer members, and it shows farmers plan to plant fewer corn acres and more soybean acres in 2022.
The proposal is mostly a wish list, as the 12 appropriations measures that fund the government are ultimately approved by Congress, shares policy expert Jim Wiesemeyer. Hence, it mainly serves as a messaging tool for the administration.
Since much of our petroleum independence has been built on these fracking companies, supply will remain tight. Chanting “drill, baby, drill” doesn’t work if baby doesn’t want to drill.
Government officials in Shanghai announced rolling lockdowns in order to conduct coronavirus testing, which is causing a bearish sentiment in the commodity markets.
