California’s Proposition 12 Takes Full Effect
California's Proposition 12 farm animal confinement law took full effect…
Corn futures fall more than 30% in 2023
Grain futures ended 2023 significantly in the red, according to…
FT: Low Corn Prices “Heap Pressure on Farmers”
Financial Times writer Susannah Savage reported yesterday that, "The price of corn has tumbled to a three-year low as supplies from the US and Brazil surge while demand stagnates, helping…
2023 Farm Sector Income Forecast, November
"The USDA’s Economic Research Service (ERS) indicated on Thursday that, "Farm sector income is forecast to fall in 2023 after reaching record highs in 2022. Net farm income, a broad…
NYT: “Carriers Want to Replace Jet Fuel with Ethanol to Fight Global Warming”- Water Use Concerns
New York Times writers Max Bearak, Dionne Searcey and Mira Rojanasakul reported yesterday that, "Vast stretches of America are dominated by corn, nearly 100 million acres of it, stretching from…
Fertilizer Prices Mixed, While Brazilian Soybean Production Estimates Adjusted
DTN writer Russ Quinn reported last week that, "Retail fertilizer prices saw mixed moves again during the second week of November 2023, according to sellers surveyed by DTN."
Minneapolis Fed: Farm Incomes Down in Third Quarter, But Land Values Climb
In an article last week from the Federal Reserve Bank of Minneapolis, “Farm incomes fell going into harvest, but finances remained solid,” Joe Mahon pointed out that, "Farmers always have a…
Dry Weather in Brazil Threatens Crops, Compels Tough Decisions for Farmers
Bloomberg writers Clarice Couto, Tarso Veloso, and Michael Hirtzer reported late last week that, "Parched fields and scorching heat have delayed soybean planting in the world’s biggest grower, imperiling the…
Kansas City Fed: Farm Loan Interest Rates Climb, as Ag Real Estate Values “Held Firm”
Nate Kauffman and Ty Kreitman, writing in last week’s Ag Credit Survey from the Kansas City Fed, noted that, "Farm income and producer liquidity cooled in recent months alongside lower…
Kansas City Fed: U.S. Ag Economy Softened in Third Quarter; While Soybean Futures Climb “10% From a 22-Month Low in October”
Last week, in its Third Quarter 2023 Ag Bulletin, the Federal Reserve Bank of Kansas City indicated that, "The U.S. agricultural economy softened in the third quarter alongside a drop in…
Chicago Fed: Farmland Values Climb 5% Year-Over-Year in Third Quarter
On Thursday, in the Federal Reserve Bank of Chicago’s quarterly AgLetter, David Oppedahl explained that, "The District had a year-over-year gain of only 5 percent in its agricultural land values in…
Corn Futures Near Three-Year Low, Falling “Around 32% So Far in 2023”
Bloomberg writer Kim Chipman reported on Friday that, "Corn futures extended losses, trading near a three-year low, on forecasts that the US farmers will collect a record harvest this season."
Record U.S. Corn Harvest Expected, While Ukraine Grain Exports Fall- “Despite Recent Improvements”
Reuters writer Tom Polansek reported yesterday that, "U.S. farmers will produce a record corn crop this year, the government said on Thursday, sending futures prices to a three-year low."
USDA Provides Glimpse of 2024 U.S. Planted Acreage, While Fertilizer Prices Mostly Higher
Earlier this week, the U.S. Department of Agriculture released the U.S. focused portion of its upcoming Agricultural Projections to 2033 report. The full report is due to be released in…
Global Food Prices Continue to Drop- At Slower Pace
Reuters writer Nigel Hunt reported on Friday that, "The United Nations food agency's world price index fell in October to its lowest level in more than two years, driven by…
Fertilizer: Prices and Other Variables
DTN writer Russ Quinn reported earlier this week that, "Average retail prices for all but one fertilizer were higher during the third week of October 2023 compared to last month,…
Harvest Crop Insurance Prices Below Spring Guarantees, as White House Highlights Rural Investments
DTN writer Katie Micik Dehlinger reported yesterday that, "The average daily close of the December corn futures contract was $4.88 during October, while the November soybean contract was $12.84 per…
Fertilizer Prices Higher, Anhydrous Climbs 6%- DTN
DTN writer Todd Neeley reported yesterday that, "Retail prices of all eight major fertilizers continued to climb in the third week of October, with anhydrous leading the way while farmers…
Iowa Farmland Values Steady, After Two Years of Record Highs- Des Moines Register
Donnelle Eller reported on the front page of Tuesday's Des Moines Register that, "Following two years of record highs, Iowa farmland values have plateaued: Rising interest rates, declining profits and…
Farm Loan Interest Rates Highest Since 2007, Higher Financing Costs Impacting Business Decisions
In an update late last week from the Federal Reserve Bank of Kansas City ("Smaller Operating Loans Slow Lending Activity"), Nate Kauffman and Ty Kreitman indicated that, "Farm lending activity…