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.
Brazil has been steadily planting more corn in recent years, and production may be on the verge of explosive growth as farmers double and even triple crop to take advantage of high prices, Chinese demand and a rising domestic ethanol sector.
The average value of American cropland across the country rose sharply by about 14% in 2022 as strong commodity prices and inflation eclipsed rising input and other production costs. It was the second straight year farmers saw substantial increases in the value of their land, with some of the biggest jumps in the Northern Plains, Corn Belt and Lake States, according to new USDA data.
Congressional leaders spent Tuesday evening behind closed doors working on a sweeping year-end deal that would include a new coronavirus relief package as well as funding for the federal government for the fiscal 2021.