WASHINGTON D.C. — The American Farm Bureau Federation (AFBF) has turned to the internet for delivering insightful reports of what’s happening in agriculture and their potential impact on food producers, at no cost.

 Reports called Market Intel kicked off at the beginning of April. Besides the online version, Market Intel reports are available to view every Wednesday at noon (EDT) on RFD-TV.

AFBA has done away with the print version of its monthly crop and livestock market outlook report because of the need brought on by the internet to access more timely information.

“We got a lot of talented economists here watching these markets every day and we thought posting this type of content on a regular basis would be a benefit not only to our members, but any industry stakeholder following the commodity markets,” said John Newton, AFBF’s director of market intelligence.

People can access the website at www.fb.org/marketintel and via Twitter at @FBMarketIntel

Users need to subscribe on the webpage to have reports, as they’re released, sent to their email. Newton said 3-4 indepth reports a week are generated by AFBF and the headline for the first one was “Soybeans Trumping Corn in 18 States.”

Beneath the headline was content providing insight on the implications of the USDA’s recently-released Prospective Plantings and Grain Stocks reports. Other articles have provided insight on factors like record soybean production in South America, the rise in demand for soybeans in China and reasons for the recent rally in prices in the cattle industry.

Prices for beef have gone up because of higher demand, in large part from the traditional Memorial Day weekend cookout. “It’s really been putting a strain on the supply chain,” said Newton.

Market Intel is also publishing one story a week about the impact the North American Free Trade Agreement has on grain and other commodities, because of President Trump’s stance on renegotiating NAFTA being a major concern for many producers, he said. 

 

One week, the impact of NAFTA on apples was given a close look. “We’re trying to provide that information so that people understand that if you’re a dairy farmer, NAFTA has been fantastic for you. Sure, it could be better, but it’s not been too bad for dairy,” said Newton. Grain and pork producers are among the others who’ve reaped rewards from NAFTA, he said. “It’s not just corn and soybean prices. We’re really trying to provide intelligence that impacts and shapes ag policy and commodity markets as well.”

 

Farmers should find the information helpful in other ways, such as deciding whether to switch to a more profitable crop depending on where the market has been and could be heading, and keeping track of important matters emerging in Congress so they communicate more effectively with lawmakers prior to any decisions. “Our aim with Market Intel is to analyze current events in agriculture – related to both crops and livestock – through an economic lens,” said Newton.

He said having to sometimes pay for such timely information was a major reason for offering the service at no cost not only to AFBF members but all farmers and the general public. At least one report online comes out every Monday, Tuesday and Thursday.

“There are a lot of services out there but there’s not very many that have the boots on the ground that we do here in Washington, D.C., and the membership across the country. We have the grassroots resources and the perspective to really talkabout what’s really happening in these commodity markets. That’s what really makes us unique from some of the other services out there, and it’s free.”