Author: staff

Here’s a quick look at six farmland transactions that transpired in August and September 2024. 80 acres in Poweshiek County, Iowa Price: $19,000 per acre Date: Aug. 8, 2024 Corn Suitability Rating Index (CSR2): 91.2 Eighty acres located 2½ miles north of the small east-central town of Hartwick, Iowa, sold via public auction. This quality farm’s CSR2 value was well above the Poweshiek County average of 67.9. On auction day the farm sold for $19,000 per acre, for a final sale price of $1,520,000. 118.34 acres in Macon County, Illinois Price: $17,397 per acre average Date: Aug. 28, 2024 Productivity…

As it did eight years ago, Donald Trump’s victory in the presidential election has ignited a surge of enthusiasm among farmers, although two-fifths of them say there is a risk of a damaging trade war, said a Purdue University poll released on Tuesday. The Ag Economy Barometer, a gauge of farmer confidence, surged 30 points to its highest reading since May 2021. “Some of the reasons behind the improvement in farmer sentiment include expectations for a future regulatory and tax environment for the agricultural sector that is more favorable than expected prior to the November elections,” said agricultural economists James…

By Jarrett Renshaw Dec 3 (Reuters) – Biden administration officials will not finalize highly anticipated guidelines on new clean fuel production tax credits aimed at the airline and biofuel industries before they leave in January, three sources told Reuters, casting doubt on the future of a key piece of the U.S. president’s climate agenda. The tax credit, the engine behind President Joe Biden’s ambitious plan to generate 3 billion gallons in production of sustainable aviation fuels by 2030, was due to become effective Jan. 1, but a lack of detailed guidance from the U.S. Treasury would render the program dormant.…

By Tom Polansek CHICAGO, Dec 3 (Reuters) – Global commodities trader Cargill began laying off employees across its vast operations on Tuesday in a drive to slash headcount by 5%, sending U.S. workers from supply chain, inventory control, and other roles to look for new jobs. Cargill, a major grain merchant and U.S. beef processor, is facing a downturn in returns in cattle, grains, and oilseeds businesses. In Minnesota, home to its headquarters, Cargill plans to terminate 475 employees at an office center in Wayzata starting on Feb. 5, the company said in a letter to state officials. Cargill began…

DAILY Bites CDFA halted Raw Farm’s operations after bird flu was detected in milk samples California reports new cases in cattle, poultry, and two more human infections Officials urge avoiding raw milk and highlight pasteurized milk’s safety DAILY Discussion The California Department of Food and Agriculture has suspended all distribution of raw milk products from Raw Farm LLC after samples tested positive for the avian flu virus. CDFA spokesperson Steve Lyle said, “All Raw Farm operations are currently under quarantine, from herds to bottled product, which means that all raw milk product distribution is suspended.” The suspension comes after CDFA…

John Deere announced more Waterloo, Iowa, layoffs Monday, once again citing reduced equipment demand and economic challenges. On January 3, 112 employees at its Waterloo Works will face indefinite layoffs, adding to over 1,000 workforce reductions there already this year. Add that those elsewhere in Iowa: the Quad Cities, 287 employees at Harvester Works, 80 at Davenport Works, and seven at Moline Seeding are being let go. The company attributes these cuts to weakening demand in agriculture and construction. The U.S. Department of Agriculture predicts an 18 percent drop in row-crop cash receipts for 2024, with significant price declines for…

DAILY Bites Farm income is down, and projected to drop 4.1% in 2024, nearly 23% from 2022. Crop receipts fall 9.2%, with losses in corn, soybeans, and cotton. Livestock receipts up 8.4%, with growth in cattle, milk, and eggs. DAILY Discussion The U.S. Department of Agriculture’s December 2024 farm income forecast paints a challenging picture for American agriculture, as farmers face a dramatic decline in net farm income over the past two years. The projected net farm income for 2024 is $140.7 billion, a 4.1 percent decrease from 2023 and 22.6 percent below the peak of $181.9 billion in 2022.…

The December World Agricultural Supply and Demand Estimates (WASDE) report is due Tuesday, Dec. 10. Going into the report, here is some context to know for the corn, soybean, and wheat markets and what Grain Market Insider will be looking for in the updated balance sheets.  Corn Market Expectations The November WASDE report gave the corn market a bit of a boost as the USDA’s yield projections and carryout numbers came in below expectations. The national average yield was put at 183.1 bushels per acre (bpa), and the lower yield number contributed to the lower carryout number of 1.938 billion…

DAILY Bites The RIPE Project focuses on genetically enhancing crops to increase photosynthetic efficiency, enabling them to withstand heatwaves and improve yields. By bypassing the energy-intensive process of photorespiration, RIPE’s research has engineered potatoes with a 30% increase in tuber mass under extreme heat conditions. The findings have implications for other staple foods, such as cassava, in regions heavily impacted by climate change. DAILY Discussion A team from the University of Illinois has engineered potatoes to be more resilient to global warming, showing 30 percent increases in tuber mass under heatwave conditions. This adaptation may provide greater food security for…

Tyson Foods has announced plans to shut down three facilities in Pennsylvania and Kansas as part of its efforts to “optimize” operations. The closures, set for early 2024, will affect more than 1,000 employees, reflecting the company’s ongoing challenges in its beef and pork segments. Two of the facilities, located in Philadelphia, will cease operations by the end of January, impacting 229 workers. These sites are part of the Original Philly Holdings business that Tyson acquired seven years ago. Meanwhile, in Kansas, a larger beef and pork processing plant in Emporia will close in February, affecting over 800 employees. “As…