Concerns over weak farm income forced a sharp decline in the monthly Purdue University/CME Group Ag Economy Barometer. The index dropped to a reading of 114, 15 points below its August reading of 129 and its lowest reading since October 2016. Organizers say the barometer, a sentiment index based upon a nationwide monthly survey of 400 U.S. agricultural producers, has …
Agri View: Mixed Commodity Prices
Everett Griner talks about seasonal changes having an impact on commodity prices in today’s Agri View. Mixed Commodity Prices You know, it’s not just the tariff situation that has an impact on agriculture and the farm economy. There is farm credit. Some high-up officials, that deal with the problem every day, are inclined to believe that high interest rates and …
USDA Invests in Customer Service, Modernization Projects for SNAP
The U.S. Department of Agriculture announced $5 million of investments in customer service projects to improve and modernize application processing in USDA’s Supplemental Nutrition Assistance Program (SNAP). The USDA Process and Technology Improvement Grants (PTIG) awarded to the District of Columbia and state and county agencies in Alabama, Kansas, North Carolina, New Mexico, and New York aim to: Make the …
Report Shows Florida Agriculture, Natural Resources and Food Industries Grew 2007-2016
The latest installment of an annual report from the University of Florida Institute of Food and Agricultural Sciences reveals some good news about the state’s economy – from 2007 to 2016, the portion of Florida’s Gross State Product (GSP) generated by agriculture, natural resources and food industries grew at a faster rate than the state’s total GSP, a statistic commonly …
USDA Partners to Improve Water and Wastewater Infrastructure for Rural Americans
Assistant to the Secretary for Rural Development Anne Hazlett announced that USDA is investing $392 million (PDF, 238 KB) to help rebuild and improve rural water and wastewater infrastructure in 42 states. “Put simply, modern and reliable water infrastructure is foundational to quality of life and economic development,” Hazlett said. “USDA’s partnerships with rural communities underscore Agriculture Secretary Sonny Perdue’s commitment to rural …
U.S. Government Fiscal Year Ends September 30
All of agriculture continues to wait for news from the farm bill conference committee concerning a new bill, knowing the current one expires at the end of the month. But National Cattlemen’s Beef Association (NCBA) Senior Vice President of Government Affairs, Colin Woodall, notes September 30 is also the end of the government’s current fiscal year, meaning all appropriation bills …
USDA Details Trade Damage Estimate Calculations
U.S. Secretary of Agriculture Sonny Perdue released a detailed accounting of how the U.S. Department of Agriculture (USDA) calculated estimated damage from trade disruptions. USDA’s Office of the Chief Economist developed an estimate of gross trade damages for commodities with assessed retaliatory tariffs by Canada, China, the European Union, Mexico, and Turkey to set commodity payment rates and purchase levels …
2019 Farmland Rental Rates Expected Steady with 2018
Farmland rental rates are not expected to change much in 2019. A new forecast by Farmers National Company predicts cash rental rates for 2019 to stay the same as 2018, for the most part. The company notes that despite current low grain prices, many farmers had the opportunity to forward price corn and soybeans at similar or better prices than …
August Rural Mainstreet Index Rises, Ag Worries Remain
The Creighton University Rural Mainstreet Index climbed above growth neutral in August for a seventh straight month. The monthly survey of bank CEO’s in ten Midwestern states climbed to 54.8 from 53.8 in July. The index ranges between 0 and 100 with 50.0 representing growth neutral. Organizer Ernie Goss says recent surveys show the Rural Mainstreet economy is expanding outside …
Tariffs Impacting Ag Equipment Manufactures, Dealers
A survey by the Association of Equipment Manufacturers finds steel and aluminum tariffs are harming the industry. The survey, primarily focused on the current new equipment inventory levels, shows both dealers and manufacturers are aware of the potential effect of steel and aluminum tariffs on the industry. The survey found that overall, new inventory numbers are favorable, when traditionally dealers …