While harvest of the 2023 crop is not quite over yet, some analysts are already predicting the 2024 acreage numbers. Mark Oppold runs through some of those.
USDA Trims America’s Feed Grain Supplies
USDA is forecasting October U.S. feed grain production at 396.6 million tons for the 2023-2024 marketing year, down 1.8 million tons on reduced corn and sorghum output. With lower beginning stocks partly offset by a slight bump in imports, the total feed grain supply is projected 4.1 million tons lower this month at 436 million. Reflecting a slight yield decrease …
Grain and Livestock Trading Update
There are a variety of factors affecting both the grain and livestock trades at this time. Mark Oppold has an update.
Gasoline and Diesel Fuel Prices Decline After Volatile Week
The pain at the pump is getting a little lighter. That’s coming up on This Land of Ours. For the fourth consecutive week, the nation’s average price of gasoline dropped, falling 11.3 cents from a week ago to $3.55 per gallon. The national average is down 29.9 cents from a month ago and 30.9 cents per gallon lower than a …
Higher Interest Rates, Strong Dollar Affecting Rural Economies
CoBank says the combination of high interest rates and a strong U.S. dollar is beginning to take a disproportionate toll on rural industries like agriculture, forestry, and manufacturing. Most international transactions are still conducted in dollars, and a strong dollar makes U.S. exports more expensive and imports cheaper. CoBank’s Knowledge Exchange says that disproportionately hurts the backbone of the rural …
Generic Vs. Brand Names in Groceries
What’s in a name? That depends when it comes to groceries. That’s coming up on This Land of Ours. https://www.shutterstock.com/image-photo/couple-shopping-groceries-supermarket-1606526392Most consumers appear to prefer brand-name beverages over generic or store-brand beverages. That’s according to the September 2023 Consumer Food Insights Report. The Purdue University College of Agriculture report further indicates that consumers make this choice even when presented with a …
Economists Discuss Additional Revenue Streams in Agriculture
Top agricultural economists answer the question of what the upcoming possibilities for new revenue streams for farmers are. The question was posed during the recent Agri-Pulse Ag Outlook Forum. National Corn Growers Association (NCGA) Lead Economist, Krista Swanson said a new type of aviation fuel is one stream. “Our market development action team recently had a study done and as …
Lower Projected Yields Could be Supportive
Lower projected yields from last week’s USDA crop reports could be supportive. Mark Oppold has more details.
2022 Potato Production Down 3 Percent
The U.S. Department of Agriculture (USDA) Economics, Statistics, and Market Information System recently released the 2022 Potato Summary. The report presents potato estimates of acreage, yield per acre, production, farm disposition, season average price, value, and utilization of sales, including processing for the 2022 season. All potato production in 2022 totaled 399 million hundred-weight, down three percent from the 2021 …
Food Price Inflation Easing Down
Food price inflation is easing down into so-called “normal” levels. Gary Crawford has more in today’s This Land of Ours report. The new Consumer Price Index (CPI) shows that during September, prices for all items in the economy rose two-tenths of 1 percent, putting the inflation rate 3.7 percent higher than this time a year ago. However, for food at …