Corn production is forecast at 14.626 billion bushels in the latest World Ag Supply and Demand Estimates. That’s down 152 million bushels on a lower yield forecast. In addition to lower production, USDA is forecasting reduced feed and residual use, lower exports, and smaller corn ending stocks. The season-average corn price received by producers is raised 10 cents to a midpoint of $3.60 per bushel. U.S. soybean production is forecast at 4.6 billion bushels, down 90 million on lower yields. USDA is forecasting lower exports and increased soybean ending stocks. The soybean yield projection is down to 52.1 bushels per acre. The U.S. season-average soybean price range is forecast at $7.60 to $9.60 per bushel, unchanged at the midpoint. The wheat supply forecast is unchanged for this month, with total use is raised seven million bushels on higher seed use that reflects increased projected wheat plantings in 2019-2020. The season-average farm price is unchanged at the midpoint of $5.10 per bushel and the range is narrowed to $4.90 to $5.30. Global wheat production and stocks numbers are also higher.

The National Association of State Departments of Agriculture says the faces of agriculture at the state level may be changing. Following the election results on Tuesday, the possibility exists that as many as 21 of the nation’s agriculture commissioners may change. There is a total of 54 state agricultural officials who belong to NASDA. Those include elected and appointed commissioners, secretaries and directors of the departments of agriculture in all 50 states and four U.S. territories. Included in the total of 54 members, 12 are in elected positions while the other 42 are in positions appointed by their state’s governor. New commissioners were elected to office on Tuesday in Alabama, Florida, and Iowa. Eighteen states elected new governors, including eight new governors who represent a change in the political party of their predecessors. Those new eight governors will appoint a new chief agriculture official. Democrats are now governors in Illinois, Kansas, Maine, Michigan, Nevada, New Mexico, and Wisconsin. The governorship in Alaska switched to a Republican. In an additional ten states, the new governors are members of the same party as their predecessors, so they may choose new chief ag officials or could opt to keep the current officials already in place.

The likely incoming Chair of the House Agriculture Committee says farmers and ranchers can expect a new farm bill before the end of 2018. Collin Peterson, the current Ranking Member, says that farm bill negotiators are getting “relatively close” to an agreement on a final measure that Congress could pass during the lame-duck session. Various ag industry groups fear that starting a new farm bill development process in 2019 would mean a number of amendments that wouldn’t be beneficial to the industry. Politico says the commodity title isn’t settled yet but there are a number of options that negotiators can consider. The nutrition title appears to still be a sticking point as President Trump issued what amounted to a potential veto threat for any bill that doesn’t have stricter work requirements for SNAP participants. During a post-election press conference, Trump says, “We could have a very fast bill without the work rules but we want those work rules included.” Politico also says there is a possibility Democrats may look deeper into Ag Secretary Sonny Perdue’s plans to relocate the Economic Research Service and the National Institute of Food and Agriculture.

As the international price of wheat firms up, global supply and demand balance is going to tighten in 2018-2019. That forecast comes from the Food Outlook, a biannual report published by the Food and Agricultural Organization of the United Nations. The global wheat production forecast is set to drop by 4.3 percent from the record level of last year. Total production is now predicted to add up to 727.9 million tons. Australia, China, the Russian Federation, and the EU are the primary causes of the year-over-year contraction. Those nations are also the primary reason for the overall lowering of the global production outlook. Production is expected to expand in both North and South America. Wheat utilization around the world will slightly increase in 2018-2019, with the minimal gain held in check by lower use rates in the Russian Federation and Ukraine. However, global wheat use for food production is expected to rise one percent higher. Because world production is expected to fall below usage level, global wheat stocks in 2019 will drop 4.5 percent lower than the record-high opening level.

Californians overwhelmingly passed a ban on confining farm animals in cages during Tuesday’s election. The Hagstrom Report says Proposition 12 sets space requirements for laying hens, breeding pigs, and calves raised for veal. Prop 12 also bans the sale in California of meat and eggs not raised according to state standards. It even bans the sale of products from out of state that also doesn’t meet those same California standards. Kitty Block, the Acting President of the Humane Society of the U.S., says, “California voters sent a loud and clear message that they reject the cruel cage confinement in the meat and egg industries.” Animal protection, environmental, food safety, and sustainable farming groups all spearheaded the development and eventual passage of Prop 12. More than 600 California veterinarians, over 100 California family farmers, and thousands of volunteers all came out in support of the measure. Now that California has passed Prop 12, a dozen states have laws against extreme animal confinement. Some of the nation’s largest food retailers like Walmart, Costco, Burger King, and hundreds of others all require their meat and egg suppliers to eliminate cages.