Agriculture and the United States

Jul 03, 2015

Independence Day is Saturday, July 4th

On Saturday, July 4^th, 2015, the United States will celebrate Independence Day. It was on July 4^th, 1776 that the Declaration of Independence was signed and the U.S. separated from Great Britain and became its own nation.

Independence Day

Saturday will mark the 239^th birthday for the United States. That’s 239 years of sports, politics, innovation and of course, agriculture.

In 1799, George Washington suggested to Congress that a National Board of Agriculture be formed.

In 1837, John Deere and Leonard Andrus started to manufacture steel plows.

Between 1840 and 1850, New York, Pennsylvania and Ohio were the most important states when it came to wheat production.

It was on May 15^th, 1862 when Abraham Lincoln signed a bill establishing what’s known today as the United States Department of Agriculture and Isaac Newton was appointed as its first Commissioner. Only five days later on May 20^th, Lincoln signed the Homestead Act and transferred more than 200 million acres of land from public to private ownership, creating more than 1 million farms.

By 1910, North Dakota, Kansas and Minnesota became important wheat states and in 1917, Kansas red wheat was distributed throughout the United States.

It’s estimated that between 1930 and 1939 agricultural exports accounted for 32% of total American exports, or $765 million per year.

These are only some of the events that have taken place throughout America’s agricultural history; there are also people who helped shape agriculture in the United States and abroad.

George Harrison Shull (1874-1954)
Born on a farm in Ohio’s Clark County, Shull grew up to be a botanist and geneticist, as well as being known as the father of hybrid corn. His research helped corn yields increase as much as 50% and develop corn that’s capable of being successful in varying conditions.

George Washington Carver (1860-1943)
An inventor and botanist from Diamond, Missouri, Carver experimented with different uses for peanuts, sweet potatoes and soybean. He would write brochures describing crops, cultivation and recipes while urging farmers to submit soil and water samples for analysis and research.

George Washington Carver

As you celebrate Independence Day with your families and friends eating delicious meats and vegetables, don’t forget the people who started farming the land, as well as those that continue to do so today.

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.