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Shining Light on Farm & Food Policy for 20 Years.
Tuesday, May 07, 2024
Rice producers can start signing up next week for $250 million in special payments Congress provided to shore up grower income after lackluster returns in 2022.
The UN Food and Agriculture Organization’s index of global food commodity prices rose for the first time in a year last month, led by increases in the cost of sugar and meat.
Increased confidence in the Fed may be leading more producers to expect interest rates to remain steady or decline compared to earlier in the year, according to the April Ag Economy Barometer reading.
Grocery prices dropped 0.3% in March, the first such decline since September 2020, as consumers benefitted from lower costs for a wide range of foods, including meat, dairy products, and fruits and vegetables.
The USDA slashed its forecast for Argentina’s corn and soybean production in response to widespread drought and raised its prediction for Chinese wheat imports in its April World Agricultural Supply and Demands Estimate.
Declining prices for cereals and vegetable oils helped drive world food commodity prices down for the 12th straight month, the Food and Agriculture Organization of the United Nations said Friday.
USDA Chief Economist Seth Meyer says a drive to diversify revenue streams through the growth of climate-smart commodities has potential but also needs to be better understood from an economic standpoint.
USDA’s latest farm income forecast could provide some ammunition to farm groups and their allies in Congress who argue that soaring production costs are eating into farm earnings while producers have little chance of seeing payments from commodity programs.