BY TYLER DURDEN
Last year was a bad year for corn — the latest US Department of Agriculture (USDA) report shows drought conditions and extreme weather wreaked havoc on croplands.
USDA unexpectedly slashed its outlook for domestic corn production amid a severe drought across the western farm belt. Farmers in Nebraska, Kansas, and Texas were forced to abandon drought-plagued fields.
The agency estimated farmers harvested 79.2 million acres, a decline of 1.6 million acres versus the previous estimate — the smallest acres harvest since 2008.
The unexpected cut to US harvested corn acres means grain supplies are a lot tighter than realized. A report Thursday showed the corn area in the world's largest producer is at the smallest since 2008 with crops failing in states such as Texas and Nebraska. That's due to persistent drought conditions in the western part of the country that could also hit harvests for wheat plants that are currently dormant for the winter. -- Bloomberg
The crop-failed lands reduced total harvest corn acreage to levels not seen since 2008. ........more below
The European Commission has announced plans to “strengthen” the borders of nine member states
The European Commission unveiled a strategy on Wednesday to reinforce nine EU member states bordering Russia, Ukraine, and Belarus, by means of the ‘European Drone Defense Initiative’. Previously dubbed the ‘drone wall’, the plan has faced criticism over its feasibility.
Russia has repeatedly dismissed Western claims of being a threat to NATO or EU nations, calling the narrative “nonsense” and “fearmongering” meant to justify inflated military budgets.
Announced by the commission’s executive vice president, Raffaele Fitto, the plan includes Finland, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary, Romania, and Bulgaria. Brussels says that these nations are facing reduced investment, demographic pressure, and “hybrid” threats linked to the Ukraine conflict.
The new strategy includes a €28 billion ($33 billion) loan program, as well as commitments to implement ...
Washington’s initiative seeks to secure a supply chain for AI, semiconductors, and critical minerals
India has joined the US-led Pax Silica alliance, which aims to secure a supply chain for artificial intelligence, chips, and critical minerals.
The Pax Silica declaration was signed on the sidelines of the AI Impact Summit currently underway in New Delhi.
Australia, Greece, Israel, Japan, Qatar, South Korea, Singapore, the UAE, and the UK are the other signatories of the declaration, according to the US State Department.
Canada, the European Union (EU), the Netherlands, the Organization for Economic Cooperation and Development (OECD) and Taiwan are non-signatory participants.....more below
Around ten F-16s reportedly flew close to Beijing’s air defense identification zone over the Yellow Sea
US and Chinese fighter jets faced off not far off the South Korean coast this week, according to local media outlets.
Approximately ten US Forces Korea (USFK) F-16 warplanes took off from Osan Air Base in Pyeongtaek – about 60km south of Seoul – and flew over international waters in the Yellow Sea, the Korea Herald reported, citing multiple sources. The mission reportedly took place in the airspace between South Korea’s and China’s respective air defense identification zones.
As the F-16s approached the Chinese coast, Beijing scrambled its own jets to the area, the article said, without clarifying how many planes were involved. The outlet noted that “a brief aerial face-off” ensued, but given that neither side violated the other’s airspace, the situation did not escalate.
The paper also noted an “unusual” number of US jets in the air, adding that it could suggest that the...
