The National Agriculture Statistics Service released a host of reports Thursday. The reports show that ample rain and moderate temperatures across the Midwest led to record-high yield and production for corn and soybeans in 2016. U.S. corn growers produced 15.1 billion bushels, up 11 percent from 2015. Soybean production for 2016 totaled a record 4.31 billion bushels, up ten percent from 2015. In the Grain Stocks report, corn and soybean stocks were both estimated to be up ten and seven percent from 2015, respectively. While those numbers are all higher than 2015, they represent a cut from the previous USDA forecast. U.S. corn ending stocks were lowered 48 million bushels from last month’s estimate, and soybean ending stocks were lowered 60 million bushels. For 2016, all cotton production was up 32 percent from 2015, at 17 million 480-pound bales. Sorghum grain production in 2016 is estimated at 480 million bushels, down 20 percent from 2015. The Winter Wheat Seedings report shows planted area for harvest in 2017 was estimated at 32.4 million acres, down ten percent from 2016 and 18 percent below 2015. This represents the second lowest U.S. acreage on record.

“Why is that the last one?” Those words from outgoing Agriculture Secretary Tom Vilsack regarding his post being the last yet to be filled by the incoming Donald Trump administration. Speaking to the Wall Street Journal this week, Vilsack says the absence of an agriculture secretary nominee so late in the cabinet-selection process reflects a “lack of appreciation” for what the Department of Agriculture does. A Trump transition team member maintains an announcement will be made soon, saying: “The future growth of the U.S. agriculture sector is of critical importance to President-elect Trump,” as a reason for the lengthy selection process to find the right candidate. Just last week, Politico speculated that the position belongs to former Georgia governor Republican Sonny Perdue. Politico said Thursday that there were loose plans to announce Perdue on the final day of the American Farm Bureau convention this week, but that day, as many others, has now passed. Trump will be sworn into office next Friday. Meanwhile, agriculture is left hoping Trump has saved his best pick for last.

The U.S. Grains Council says China is attempting to restrict access to the U.S. dried distillers grain market by subjecting U.S. DDGS to anti-dumping and countervailing duties. Grains Council CEO Tom Sleight says the organization is “deeply disappointed” in the move. The announcement came just ten days after the Chinese government increased tariffs on imported U.S. ethanol from five to 30 percent. The Grains Council says that move effectively stops market growth for U.S. farmers and ethanol producers. Meanwhile, U.S. farmers also continue to wait for China’s approvals of biotech corn events, which last happened in 2014. Sleight says the protectionist trade restrictions by China are “based on false allegations” and do not benefit China or the United States.

Farmers National Company says 2017 land values are dependent on several different factors the industry may see throughout the year. The agricultural landowner services company says the direction of commodity prices, interest rates, inflation, challenges in the world economy, weather and U.S. tax law; all could change the direction of land prices for 2017. In the past three years, agricultural landowners in many regions across the country have seen a decline in profits, which also pushed land values lower. Land prices remain mixed to start the year as some regions are seeing prices stabilize while other regions are seeing lower prices, according to the company. The biggest two factors this year will be interest rates and commodity prices. Meanwhile, foreign trade policy will also be of interest as changes in trade policy could impact commodity prices and influence land buying and selling decisions.

The Senate Environment and Public Works Committee will hold a confirmation hearing for Environmental Protection Agency Administrator nominee Scott Pruitt. Politico reports lawmakers on the committee have a long list of questions they want to ask the Oklahoma attorney general. Just last week, Senators from Midwest states held a meeting to question Pruitt on his stance regarding biofuels. Pruitt reassured the group he would follow the law on renewable fuels, Waters of the U.S. and other issues key for agriculture. The American Farm Bureau Federation “strongly endorses” the nomination of Pruitt as EPA administrator. Just last week, AFBF President Zippy Duvall called Pruitt an “ideal nominee.”

President-elect Donald Trump Wednesday announced his nominee to lead the Department of Veterans Affairs, leaving the Agriculture Secretary cabinet position the last to fill for the incoming administration. Trump announced during a rare news conference Wednesday David Shulkin as his Veteran Affairs Secretary nominee but offered no mention regarding the search for his Agriculture Secretary. The delay in picking a nominee for the Department of Agriculture is causing some concern within the agriculture industry, but the Trump Transition team continues to say the President-elect is looking for the best candidate.

China’s National Chemical Corporation and Syngenta submitted formal remedies to the European Union this week in an attempt to win approval by regulators of ChemChina’s planned $43 billion takeover of Syngenta. The companies submitted their comments on Monday and regulators have until Thursday to make a decision. The EU began its review back in October, citing concerns about overlapping portfolios of crop protection products between Syngenta and an Israeli company also controlled by ChemChina. Dow Chemical and DuPont Company also went before regulators this week to plead their case for their planned $60 billion merger. European Union regulators have concerns about what the merger will mean in terms of reducing research and development spending on agrochemicals. If that concern is merited, it could reduce innovation in an industry that’s absolutely critical to global food production. The Monday hearing was the last chance for the companies to make their case before regulators decide whether or not to approve the agreement. Dow and DuPont made an offer last July that regulators said left them in serious doubts about the deal being approved. The companies still have time to make another offer to alleviate EU concerns.

The U.S. grain price outlook and crop demand won’t see a lot of major changes in the coming year. That prediction comes from Dr. Pat Westhoff, Director of the Food and Ag Policy Research Institute at the University of Missouri. Based on trends, Westhoff says prices will continue to be below average in 2017-2018 and be lower than 2016. Yields for grains and oilseeds increased by one percent per year since 1980, roughly the same rate as the global population growth. The harvested area for wheat, corn, and soybeans has increased by 17 percent from 2002-2014 and world per capita consumption increased 16 percent. He says an increase in ethanol production and Chinese per capita demand had the greatest effect on grains and oilseed markets. Biofuels growth has slowed and increasing Chinese demand is becoming doubtful, so grain and oilseed markets will continue along their current trends for those reasons.