China is continuing to purchase Brazilian soybeans despite a recent deal to buy U.S. beans. China had agreed to buy 12 million tons by the end of 2025 and then 25 million metric tons for the following three years. The Chinese are experiencing a soybean oversupply that has caused the country to significantly reduce the imports agreed upon with the U.S. As a result, soybean prices for U.S. farmers remain low even at $11.20, a price that has risen 11% from a month ago but remains sensitive to trade news. Despite U.S. sales to the Philippines and Egypt , the lack of consistent Chinese purchases has kept prices down. On Friday, the USDA released their supply/demand report following a two-month hiatus due to the government shutdown. Beans, wheat, corn, and cotton all reacted to negatively.
Mexican Cattle Rattle U.S. Herders
The U.S. has renewed screwworm surveillance along the U.S and Mexican border due to fears that cattle may become infected. The Department of Agriculture is developing sterile male flies in an attempt to combat the spread of the disease. In cattle, the screwworm can cause tissue damage, weight less, and death. An outbreak could be devastating to U.S. herds, potentially costing the Texas economy up to $1.8 billion. Currently, no cases have been reported in the U.S.; however, the proximity of the Mexican cases has raised awareness and caution by cattle herders who fear the worst consequences. In the meantime, more reports of bird flu are raising eyebrows as that malady could create havoc in the livestock industry. Massive culling of chicken flocs could cause more demand for red meats, for example.
Thoughts to Cost a Nickel
After 232 years, the penny will no longer be produced in the U.S. Be prepared to round up. Invented by Ben Franklin, the one cent coin came to be under the continental Congress in 1878 and donned the face of Abe Lincoln by 1909 with a new tails side by 1959 and again in 2009. We say good-by to, “A penny saved is a penny earned,” “ penny wise and dollar foolish,” and others. The demise of the coin was influenced by cost. In 2024, a single cent cost 3.7 cents in metal to produce which made no sense. But have no fear, JCPenney is still around.