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Shining Light on Farm & Food Policy for 20 Years.
Friday, April 19, 2024
U.S. farmers facing soaring prices for fertilizer and other inputs plan to reduce corn plantings by 3.9 million acres this year and seed a record 91 million acres of soybeans, according to USDA’s annual planting intentions survey.
The years-long drive by the European Union to promote agricultural conservation and sustainability at the cost of production has been thrown off the rails as the Russian invasion of Ukraine threatens food security in countries that need access to affordable grains.
Lawmakers are starting hearings on the next farm bill at a time when the historically high commodity prices mean the public may see little need to beef up programs despite input prices that are also soaring.
Global corn and wheat supplies are going to get tighter this year as the invasion of Ukraine threatens to all but halt the country’s ability to plant and harvest corn and wheat in the coming months.
Russia’s invasion of Ukraine could raise grain prices as much as 20% while boosting fertilizer prices another 13% and further inflating food costs, the UN Food and Agriculture Organization warns.
Dozens of European environmental and other non-government organizations are trying to head off any re-evaluation of the Farm to Fork Strategy to address the impact of the war in Ukraine.
USDA increased its forecast for global wheat stocks despite the war in Ukraine but also cautioned that the Russian invasion had “significantly increased the uncertainty” of agricultural supplies and demand around the world.
The war in Ukraine is threatening to cut global grain supplies and worsen food insecurity, leading to proposals to ramp up agricultural production in the United States and Europe by planting crops this year on conservation acreage.
Global food prices hit an all-time high in February, led by sharp increases in vegetable oil and dairy prices as well higher costs for grains, according to the UN Food and Agriculture Organization.