FSA Administrator Highlights Market Facilitation Program; Chinese Ag Imports Projected to Decrease

The Administrator of USDA's Farm Service Agency (FSA), Richard Fordyce, was a guest on Friday’s “Adams on Agriculture” radio program with Mike Adams, where he discussed details of the new Market Facilitation Program.  Meanwhile, USDA released its quarterly Outlook for U.S. Agricultural Trade last week, which noted that agricultural exports to China are projected to decrease.
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Farm Income: USDA Forecast for 2018 and First Estimates for 2017

The U.S. Department of Agriculture's Economic Research Service (ERS) indicated on Thursday that, "Net farm income, a broad measure of profits, is forecast to decrease $9.8 billion (13.0 percent) from 2017 to $65.7 billion in 2018, after increasing $13.9 billion (22.5 percent) in 2017. Net cash farm income is forecast to decrease $12.4 billion (12.0 percent) to $91.5 billion."
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Drought Takes Toll on EU and Australian Wheat Production

In its August Grain: World Markets and Trade report on Friday, USDA's Foreign Agricultural Service (FAS) stated that, "Combined wheat production in the European Union, Russia, and Ukraine is forecast down 12 percent from last year to the lowest level in 5 years. The EU wheat crop is down 9 percent from last year on hot, dry weather in the northern Member States, while production in Russia and Ukraine is down from recent bumper crops on a return to normal yields."
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Federal Reserve Ag Credit Surveys- 2018 Second Quarter Farm Economy Conditions in the Midwest

On Thursday, the Federal Reserve Banks of Chicago, St. Louis and Kansas City released updates regarding farm income, farmland values and agricultural credit conditions from the second quarter of 2018.  Recall that the Federal Reserve Bank of Dallas issued a similar update last month.  Today’s update highlights core findings from Thursday’s reports.
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