CRP Enrollment Numbers Announced
Bids covering 90 percent of the 4.8 million acres offered by landowners nationwide for enrollment into the Conservation Reserve Program during last month’s general sign-up were accepted.
USDA’s Farm Service Agency announced Tuesday that 4.3 million acres will enter the CRP on October 1st – the first day of FY 2011 – bringing total enrollment to 31.2 million acres. The statutory cap is 32 million.
FSA Administrator Jonathan Coppess trumpeted the results. The national average rental rate per acre is about 46 dollars, down from the 53 dollar average for the last general sign-up four years ago.
Cotton Market Wildcards—China & India
National Cotton Councils’ chief economist, Gary Adams says that a couple of areas in the world have entered the cotton market in a big way, and are presenting a huge wildcard when it comes to cotton prices and demand for US grown fiber. Adams explains what China and India’s situations look like this year:
“In the cotton market is certainly China and India, they’re always two wild cards, they’re key players in the global cotton market. They certainly have an impact on what the US exports. We anticipate China’s going to be importing more cotton this year, they’re production is not quite as large as what it was a year ago, and their demand continues to increase, so to the extent they decide to import and when they decide to make those import choices is going to be important. India is another one , they’ve emerged as a cotton exporter over the last few years, they’ve had an export ban in place but it looks like October 1 they’re going to allow cotton exports, but only for a limited amount. So, the extent to which they enter the world market is certainly going to have an impact on their competition relative to the United States. So, those are going to be a couple of factors to watch going out over the coming months.
But, at least right now as you look at the balance sheet and market fundamentals it continues to be a situation that’s supportive of prices.”
Gary Adams, Chief Economist with the National Cotton Council in Memphis, Tennessee.
Report: Interference Detected in Food Safety System
A Survey of nearly 8-thousand food safety employees at the food and Drug Administration and the Department of Agriculture reveals a food safety system where special interests and public officials, all too often, inhibit the ability of government scientists and inspectors to protect the food supply. The survey was conducted by the Union of Concerned Scientists, working with researchers at Iowa State University.
Congress is Back--Briefly
Congress was back in session yesterday. But don’t expect more than is necessary as this legislative work period is expected to be relatively short due to upcoming elections.