(Reuters) - A worsening drought in the southern U.S. Plains is threatening the region’s winter wheat crop just as the Russian invasion of Ukraine dents global supplies.
Ford’s newly revealed electric version of the F-150 pickup doubles down on a bet that the company can beat Tesla, convincing long-time fleet and business customers that going electric saves money.
Manufacturing meltdowns are hitting the U.S., as semiconductor shortages expand into other components. Supply chain woes now pose a threat to the food supply and farmers’ ability to get crops out of fields.
U.S. President-elect Joe Biden plans to nominate former Iowa Governor Tom Vilsack for agriculture secretary, according to two sources familiar with the decision.
Widespread railroad disruptions could choke supplies of food and fuel, spawn transportation chaos, stoke inflation and cause $2 billion per day in lost economic output.
Chicago Board of Trade wheat futures fell on Wednesday, touching a six-month low with traders saying that newly harvested supplies were able to meet the current global demand.
Heavy Russian strikes hit the southern Ukrainian port city of Mykolaiv overnight and early on Sunday, killing the owner of one of the country’s largest grain producing and exporting companies, the local governor said.
Global grain trader Archer-Daniels-Midland Co (ADM) reported a 74% rise in second-quarter profit on Tuesday, benefiting from high demand for grains and tighter supplies following Russia’s invasion of Ukraine.
Three of the largest U.S. poultry processors have agreed to settle claims by the Justice Department over their alleged longstanding effort to share information about workers in order to drive down compensation.
U.S. Forest Service reforestation funding rose to over $100 million this year as part of moves to plant more than a billion trees in a decade under the infrastructure package passed in 2021, USDA said in a statement.
