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Bob Larson Marketing Beef to Millenials and Soybean Acreage Overtakes Wheat
by Bob Larson, click here for bio

Program: The Agribusiness Update
Date: June 14, 2017

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From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**A major generational shift is beginning to impact how beef is displayed and sold, forcing grocers to adapt and keep up with new preferences.

Marketing professional can attest to the purchasing power of millennials, the generation born between 1982 and 2004, and are trying to figure out how to curry their favor.

Albertsons-Safeway director of public affairs, Kris Staaf says “Everyone is time-starved and they just want to be able to get in, get out, and get on with their day.”

Staaf says that might mean selling pre-marinated products or pre-assembled kabobs for grilling.

**There’s a good chance that U.S. planted acreage of soybeans has finally eclipsed King Corn’s supremacy in U.S. cropland.

That numerical event may get top billing when USDA’s National Agricultural Statistics Service reports planted acreage for 2017 field crops in three weeks.

Soybean plantings have rocketed toward 90 million acres while corn has receded from a record 97.3 million acres five years ago to 90 million. Informa Economics, in fact, recently projected acreage for both crops this year at a little under 90 million.

**Corn, soybean, wheat and rice growers in much of the country now have a new option for crop insurance, a Margin Protection product to cover the difference between county revenue levels and the select local operating costs.

The MP insurance, which was authorized by the 2014 farm bill and launched on a limited basis in 2016, will be expanded significantly for 2018.

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