Ag Economy
Farm Journal’s annual Top Producer Summit, agriculture’s premier educational and networking event for forward-thinking farmers and ranchers, is set for Feb. 17-19, 2025, at the Loews Hotel in Kansas City.
USMEF and Soy Transportation Coalition leaders were among those weighing in on the decision, which could have cost U.S. farmers and ranchers an estimated $1.4 billion a week.
Russia and China are simply not our friends.
The first trading day of 2025 saw the U.S. dollar hit a two-year high, but the strength of the dollar in 2024 also had a major impact on commodity markets.
Here’s a snapshot of distribution by state and crop as well as per-acre payment rates by crop for the $9.8 billion in market relief payments for farmers.
Josh Linville from StoneX provides an outlook on 2025 fertilizer prices.
From trade and deregulation to alternative land uses and cash rent prices, ag economists have no shortage of issues on their radar for 2025.
Estimated payment rates per acre include $43.80 for corn, $30.61 for soybeans, $31.80 for wheat, $84.70 for cotton and rice payments are estimated at $69.66.
The same week Congress released the proposed CR that included $31 billion in aid for producers, a Farm Journal poll asked farmers for their thoughts on whether Congress should pass economic aid.
A one-year extension of the 2018 farm bill, tied to the continuing resolution, has sparked intense negotiations over economic assistance to farmers.
The eroding health of the overall farm economy was the emphasis of the latest Ag Economists’ Monthly Monitor, which is a survey of nearly 70 leading agricultural economists from across the country.
Agricultural groups said over the weekend they do not support year-end spending package sans economic aid for ag producers.
As federal policy decisions tend to heavily impact rural industries, the outcome of the 2024 election promises to significantly shape the rural economy in the year ahead. CoBank’s annual report outlines what to expect.
Some economists think agriculture is in a recession. Arlan Suderman, chief commodities economist for StoneX, is one of them. However, he believes comparisons to the 1980s are misguided.
While it’s unclear how Congress will push through the Farm Assistance and Revenue Mitigation Act, it’s likely going to be via the Continuing Resolution. Depending on how payments are calculated, farmers could receive $101 per acre for corn, $53 for soybeans and $73 for wheat.
Trump said he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs, particularly fentanyl, and migrants crossing the border, in a move that would appear to violate a free-trade deal.
The Rural Prosperity and Food Security Act, which builds on the proposal Stabenow released in May, includes $39 billion in new resources “to keep farmers farming, families fed and rural communities strong.”
With the election now in the rearview mirror, Washington D.C. ag economist John Newton joins Tyne and Clinton on Unscripted to talk about the road ahead for ag producers.
Tariffs, while disruptive, are often used as leverage in trade disputes and contribute to market volatility.
“The agricultural economy is inherently cyclical, and ag lenders are navigating the changing conditions across the sectors they serve,” said Jackson Takach, chief economist of Farmer Mac.
Yes, the Fed is cutting interest rates but the agency can only influence mid- and long-term rates. Concerns about inflation are pushing those rates back up again.
The October Monthly Monitor reflects cautious optimism in certain areas of agriculture, marked by export strengths and potential price recoveries, but shadowed by long-term rebuilding challenges, weather dependencies and the impact of the upcoming election.
USDA will issue $1.7 billion through the Conservation Reserve Program (CRP) and CRP Transition Incentive Program (CRP TIP). USDA will also distribute more than $447 million in ARC and PLC payments related to 2023 crops.
There is still uncertainty about whether the guidance for the 45Z credit will be available before the credit takes effect. This could potentially create challenges for producers planning to claim the credit in early 2025.
As agriculture faces multiple challenges, USDA’s latest net farm income forecast is masking the reality for farmers. While livestock margins have improved for 2024, high input costs and below breakeven prices for row crops means margins could be the worst in nearly 20 years.
Farmers and lawmakers are focused on disaster relief, economic aid and completing the farm bill.
Findings from CoBank’s new quarterly report provides updates on the U.S. economy and agricultural markets.