Farm Business - General
The latest Ag Economy Barometer shows farmer sentiments remain strong. The April Barometer reading climbed one point to 178, which is just five points below it’s all-time high set back in October.
A tradition for more than 100 years will now be a thing of the past. The CME Group announced this week it’s not reopening the open outcry pits on the trading floor, which means the tradition will be gone for good.
There is growing concern crops being harvested will make it to market. The problem stems from a lack of truck drivers as COVID-19 concerns and high unemployment benefits are impacting the available workforce.
U.S. ag commodities trader Bunge Ltd adjusted income rose more than three-fold in the first quarter from a year earlier as strong crop export demand and stout oilseed crushing margins bolstered its core segment.
Lumber prices are up 359% since last year at this time, with a 69% increase taking place since the start of 2021, prices not trickling down to producers. And there are three factors aiding to the surge in prices today.
With higher commodity prices, you may be in the market to make an upgrade or new investment on your farm. Whether that’s iron, software or land, the first step is to calculate the payback.
After years of work with USB and the Soy Checkoff, Goodyear Tire is now committing to phasing out all petroleum from its products by the year 2040, using soybean oil in its place.
Used equipment values continued rising right through April 2021 after the second-biggest quarterly jump (7.8 to 8.5) ever on Machinery Pete “Used Values Index” Overall Index Rating.
A boon in commodity prices is creating higher demand for everything from tractors to seed tenders. The long tail of the pandemic is creating a strain on the supply chain, and now demand has outpaced supply.
In a venture to produce cleaner energy, big oil is turning to soybean oil. In April, Phillips 66 announced an investment in a soybean-processing plant in Iowa.