Agricultural Economy

Reuters’ Howard Schneider and Ann Saphir reported that “the Federal Reserve cut interest rates by half of a percentage point on Wednesday, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market.” “‘The committee […]

The Associated Press’ Jim Salter reported this past week that “the water level of the Mississippi River is unusually low for the third straight year, forcing barge companies to put limits on how much cargo they can carry and cutting into farm profits. It was just two months ago that much of the Mississippi River […]

Bloomberg’s Kim Chipman reported Thursday that “US farmers are poised to see a smaller-than-expected drop in income this year, down only 4.4% from 2023 even as prices of corn and soybeans — America’s two biggest crops — have plummeted.” “Growers are expected to see overall earnings of $140 billion, not including adjustments for inflation, according […]

Successful Farming’s Chuck Abbott reported at the end of last week that “after soaring at the start of this decade, season-average prices for the three major U.S. crops will drop to pre-pandemic levels and stay there for the near term, said a University of Missouri think tank on Thursday. Cattle would be the most notable […]

Reuters’ Jody Godoy and Deborah Bloom reported that “the U.S. Federal Trade Commission kicked off a trial on Monday in its bid to block Kroger’s $25 billion merger with Albertsons, telling a federal judge in Portland, Oregon, that the deal would eliminate competition between the top grocery store chains and hit consumers’ wallets.” “The FTC […]

The New York Times’ Jim Tankersley and Jeanna Smialek reported this past Friday that “Vice President Kamala Harris’s economic agenda for her presidential campaign features an argument that blames corporate price gouging for high grocery prices.” “That message polls well with swing voters. It has been embraced by progressive groups, which regularly point to price […]

Reuters’ Amy Lv and Naveen Thukral reported at the end of last week that “global trading house Cargill will undergo structural changes after missing internal earnings goals, with plans to streamline operations into three units instead of five, according to an internal company document seen by Reuters and two company sources.” “Agricultural merchants like privately […]

FERN’s Ag Insider reported Monday that “U.S. cropland is worth an average of $5,570 an acre, an increase of $1,510, or 37 percent, since 2020, said the USDA’s annual Land Values report. The surge in land values accompanied the four highest years of net farm income, a gauge of profitability, for American farmers.” “The USDA […]

Reuters’ Leah Douglas reported Wednesday that “the U.S. Department of Agriculture said on Wednesday it has issued $2 billion of financial assistance to more than 43,000 farmers, ranchers and forest landowners who experienced past discrimination in the agency’s farm lending programs.” “The Inflation Reduction Act allocated $2.2 billion for the discrimination payments. For decades, Black […]

Global bumper harvests, a downturn in crop markets and slowing demand for farm equipment are shrinking profits and lowering future outlooks for some of the world’s top crop traders and equipment manufacturers, including Bunge Global SA, CNH Industrial, Archer-Daniels-Midland Co and AGCO Corp. Crop Traders Bloomberg’s Gerson Freitas Jr and Tarso Veloso reported that “bumper […]

Bloomberg’s Michael Hirtzer reported that “record-high wheat yields in North Dakota are set to further expand American grain supplies and should help to quell inflation for foods like bagels, where prices had recently started rising again.” “Dozens of wheat traders, millers and bakers fanned out across the state in an annual crop tour this week,” […]

Bloomberg’s Leah Nylen reported Thursday that “a Colorado judge issued an order temporarily blocking the proposed $25 billion merger of Kroger Co. and Albertsons Cos., which has been challenged by the state attorney general.” “At a hearing in Denver on Thursday, Judge Andrew J. Luxen granted a preliminary injunction halting the deal and cancelled a […]

Politico’s Grace Yarrow reported Monday that “after Joe Biden’s bombshell announcement Sunday afternoon, a number of DNC delegates and other top Democrats — including the president himself — quickly endorsed Vice President Kamala Harris to take over the top of the ticket. The vice president’s track record as a California attorney general, U.S. senator and […]

In his acceptance speech at the Republican National Convention late last week, former President Donald Trump made no direct mention of agriculture, but he touched on a number of issues — electric vehicles, clean energy and trade — that directly affect the agriculture industry. “Trump started the rambling 1½-hour speech on a unifying note and […]

Successful Farming’s Chuck Abbott reported Thursday that “farmers are on track to harvest some of their largest corn and soybean crops ever, but the ongoing decline in commodity prices is putting farm income in question, said the Beige Book issued by the Federal Reserve Board on Wednesday.” “Regional Fed banks in Chicago and Minneapolis said […]

Bloomberg’s Dong Cao reported Sunday that “the world’s biggest pork producer WH Group Ltd. is spinning off the US and Mexico businesses of Smithfield Foods Inc. and listing them in New York, it said in a Hong Kong stock exchange filing.” “The announcement confirmed a Bloomberg News report Friday, which said WH Group has picked […]