Weekly Grain Transportation Report – 2028 Farm Projections; Trump approves water projects; Major players seeking digital technology | Michigan Farm News

Weekly Grain Transportation Report – 2028 Farm Projections; Trump approves water projects; Major players seeking digital technology

Category: Crops

by USDA

farmnews_grainreport_102018

USDA Releases Early Report for Agricultural Projections to 2028

On November 2, USDA will release selected tables from its upcoming USDA Agricultural Projections to 2028 report that will be published in February 2019. USDA will post online tables containing long-term supply, use, and price projections to 2028 for major crops and livestock products. The early-release tables will be posted to www.usda.gov/oce

USDA's long-term agricultural projections are developed through a consensus of departmental agencies and provide a long-term representative scenario of the agricultural sector, over the next decade. The projections can be useful to agricultural shippers in anticipating future transportation demand patterns for agricultural products.

President Trump Signed the Water Resources Development Act 2018 into Law

President Trump signed the America's Water Infrastructure Act (AWIA) of 2018, which authorizes the federal government to fund water infrastructure projects. The new law authorizes, or reauthorizes, water infrastructure projects and programs to provide for investment in harbor, waterway, flood protection, and other water infrastructure improvements throughout the country.

Title 1 of the Act includes the Water Resources Development Act (WRDA) of 2018, which establishes the authorization process for Congress to appropriate the funds toward projects identified by legislation. The AWIA re-establishes a two-year cycle for WRDA legislation to allow timely updates and continuity for important projects. It also allows the federal government to de-authorize $4 billion of funding in water resource development authorized by Congress, but no longer viable for construction.

Agribusinesses Embrace Digital Technology to Increase Supply Chain Efficiencies

Archer Daniels Midland Company (ADM), Bunge Limited (Bunge), Cargill, Incorporated (Cargill), and Louis Dreyfus Company (LDC) are investigating ways to standardize and digitize global agricultural shipping transactions. The joint release stated, “Global agribusinesses are turning to emerging digital technologies – including blockchain and artificial intelligence options –to reduce resource- and time-intensive processes associated with the global agricultural commodity value chain.”

The companies also seek broad-based industry participation to promote global access and adoption. Initially, ADM, Bunge, Cargill and LDC are focused on technologies to automate grain and oilseed post-trade execution processes, as they represent a highly manual and costly part of the supply chain. Eliminating inefficiencies would lead to shorter document-processing times, reduced wait times and better end-to-end contracting visibility.