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2021 Farm Sector Income Forecast, December

The USDA’s Economic Research Service (ERS) indicated on Wednesday that, “Net farm income, a broad measure of profits, is forecast to increase by $22.0 billion (23.2 percent) from 2020 to $116.8 billion in 2021. This expected increase follows a forecast…

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Recent News Summaries

Fertilizer: Risk of “Spring Scramble” for Supplies

Last week, Reuters writer Rod Nickel reported that, “A global shortage of nitrogen fertilizer is driving prices to record levels, prompting North America’s farmers to delay purchases and raising the risk of a spring scramble to apply the crop nutrient…

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Kansas City Fed: Farmland Values Surge

In an update last week from the Federal Reserve Bank of Kansas City, “Farm Real Estate Values Rise Sharply,” Nathan Kauffman and Ty Kreitman stated that, “Farmland values surged in the third quarter according to Federal Reserve Surveys of Agricultural…

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U.S. Agricultural Exports Forecast at Record in Fiscal Year 2022

On Tuesday, the USDA released its Outlook for U.S. Agricultural Trade, a quarterly report from the Department’s Foreign Agricultural Service (FAS) and Economic Research Service (ERS).  

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China’s Phase One Purchases Slow

Bloomberg News reported on Tuesday that, “China pulled back on its already halting progress toward meeting its U.S. trade deal targets, slowing purchases of all types of goods covered by the agreement despite calls from the Biden administration for Beijing…

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China’s Soy Imports Slump in October, as “U.S. Pork Exports to Mexico Show Promise”

Reuters writers Hallie Gu, Cheng Leng and Shivani Singh reported recently that, “China’s October soybean imports from the United States fell sharply from the previous year, customs data showed on Sunday, hit by poor demand and limited exports.”

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“World Fertilizer Prices Continue to Soar,” as 2022 U.S. Acreage Considerations Underway

Bloomberg writer Elizabeth Elkin reported on Friday that, “World fertilizer prices continue to soar as tightening supplies send costs up for farmers and consumers across the globe.”

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