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Corteva Petition Controversy and Severe Spring Weather Possible
The Agribusiness Update
Six major commodity groups sent a letter to the ITC encouraging a NO vote in advancing a petition from Corteva Agribusiness, and forecasters say the spring severe weather season may quickly shift into high gear with favorable tornado conditions over the next few weeks.
How Expensive is Your Grocery Cart?
California Ag Today
New data shows food-at-home, or grocery prices, rose the fastest last year in Houston, Texas, by 7.8 percent, followed by Boston, Massachusetts, at seven percent.
AFBF on Fuel and Energy Costs
Washington State Farm Bureau Report
Fuel and electricity prices are on the rise again amid declining farm income and the American Farm Bureau responds.
Tropical Storm Forecast and Drone Swarm Exemption
The Agribusiness Update
Meteorologists at AccuWeather are warning people and businesses to start preparing now for what could be a busy tropical storm season, and the FAA issued an exemption for “drone-swarm” agriculture for seeding and spraying crops at a fraction of the cost.
Dairy Heifer Sticker Shock and Sugar Exports Forecast Higher
The Agribusiness Update
Dairy farmers looking to buy young heifers to replace their older milking cows should get used to the sticker shock, and U.S. sugar exports for fiscal year 2024 are forecast to be the largest they’ve been in six years.
GDA Offer to Build Resilience and Sugar Exports Forecast Higher
The Agribusiness Update
GDA and USDA offer $7.1 million competitive grant funding to build resilience across supply chain, and U.S. sugar exports for fiscal year 2024 are forecast to be the largest they’ve been in six years.
U.S. Wine Sales Slow and Net Cash Farm Income Down
The Agribusiness Update
U.S. and foreign winemakers are struggling to sell their product, and leaders are increasingly focused on anti-alcohol messaging, and USDA’s Economic Research Service forecasts U.S. net cash farm income will decrease 25.8% in 2024.
USDA Funding for Florida and Net Cash Farm Income Down
The Agribusiness Update
The USDA is allocating more than $5 million to Florida as part of a nationwide effort to strengthen the country’s infrastructure for pest detection as well as the nursery system, and USDA’s Economic Research Service forecasts U.S. net cash farm income will decrease 25.8% in 2024.
Regional Climate Hubs and Restaurants Forecast Exceeds $1.1 Trillion
The Agribusiness Update
Last week marked ten years since the USDA created regional Climate Hubs to help ag producers and rural communities make climate-informed decisions, and restaurant sales are forecast to exceed $1.1 trillion this year.
Regional Climate Hubs and Restaurants Forecast Exceeds $1.1 Trillion
The Agribusiness Update
Last week marked ten years since the USDA created regional Climate Hubs to help ag producers and rural communities make climate-informed decisions, and restaurant sales are forecast to exceed $1.1 trillion this year.
Georgia Ag Forecast Positive and America's Largest Landowners
The Agribusiness Update
A positive takeaway from the 2024 Georgia Ag Forecast is Georgia’s chances of experiencing a recession this year are only about 33% compared to the U.S. at 50%, and the Land Report Research Team issued a report detailing America’s largest landowners.
39% of Ag Supporting Trump and Wheat Imports Highest in Six Years
The Agribusiness Update
Poll shows 39% of surveyed farmers say they’d most likely vote for Donald Trump for President, while 19% would vote for Florida Governor Ron DeSantis, and U.S. wheat imports are forecasted to be their highest in six years for the 2023/24 marketing year.
New Year, Expected Unexpected Surprises
Southeast Regional Ag News
Geopolitical factors, elections, and many other surprises await the agricultural economy in 2024.
SE Crop Forecast and Farm Bill Priorities
The Agribusiness Update
Southeastern U.S. crop forecast from USDA, and an effort is underway to get Senate and House leadership to address several important topics in the new farm bill.
Food Away From Home Spending Up and Farmer Sentiment Improves
The Agribusiness Update
More than a third of U.S. dollars spent on domestically produced food went to foodservice establishments in 2022, and farmer sentiment improved as the Purdue University-CME Group Ag Economy Barometer climbed five points.
2023 AGH Survey Complete and American Ag Exports Down
The Agribusiness Update
The Washington State Department of Agriculture has completed its annual invasive pest survey season and will begin removing northern giant hornet traps, and America’s ag exports in fiscal year 2024 are projected to be down $2.5 billion from the August forecast.
Georgia Peanut Commission Nominations and American Ag Exports Down
The Agribusiness Update
Nominations for two board positions on the Georgia Peanut Commission coming up, and America’s ag exports in fiscal year 2024 are projected to be down $2.5 billion from the August forecast.
California Artichoke Production Down and ASF in China Data
The Agribusiness Update
Artichoke production on California’s Central Coast has steadily fallen over the past three decades, and the 2018 spread of African swine fever to China had reverberations in the global pork market, according to new USDA data.
GFB Annual Convention and ASF in China Data
The Agribusiness Update
Georgia Farm Bureau members are gathered in Jekyll Island for the organization’s 86th annual convention, and the 2018 spread of African swine fever to China had reverberations in the global pork market, according to new USDA data.
State of Ag Economy Pt 2
Washington State Farm Bureau Report
The staff at Agricultural Economic Insights has been looking into the current economic conditions in agriculture and what might be coming in 2024.