Regenerative Cotton Fund and Ag Trade Deficit Forecast Higher
From the Ag Information Network, this is your Agribusiness Update.
**A nationwide partnership led by the Soil Health Institute’s Regenerative Cotton Fund is creating opportunities for sustainable cotton farming.
The fund’s approach to advancing economic insights, soil health measurement, and education has made significant progress in the Cotton Belt since it launched in 2021.
The fund is a farmer-facing, science-based initiative to support long-term, sustainable cotton production, with the goal of eliminating one million metric tons of carbon from the atmosphere by 2026.
**A heat dome that led to record temps and expanding drought in Mexico is now forecast to move north.
AccuWeather says the dome will bring higher temps to parts of the Southwestern and Central U.S. in the coming weeks.
Meteorologists say 82% of Mexico was experiencing abnormally dry to exceptional drought conditions as of May 1.
Records show this has been the worst drought for most of Mexico since 2011.
**The U.S. ag trade deficit is projected to increase again to $32 billion in fiscal year 2024, a $1.5 billion increase from February’s projection.
That from the USDA Economic Research Service.
The report says U.S. agricultural exports during fiscal year 2024 are projected at $170.5 billion, unchanged from February.
U.S. ag imports are forecast at $202.5 billion, a $1.5 billion increase driven by higher imports of horticultural products, livestock and dairy.
