PRO FARMER
Federal Reserve Bank of Cleveland President Loretta Mester said the risk of a recession in the U.S. economy is increasing, and that it will take several years to return to the central bank’s 2% inflation goal.
As the West endures another year of unrelenting drought, the Colorado River’s reservoirs have declined so low that major water cuts will be necessary next year . . .
Slowing delivery of Russian natural gas in Europe is starting to reach into industrial supply chains.
Russia, the world’s largest wheat exporter, will change its formula for calculating grain and sunflower oil export taxes to support shipments amid a strong ruble currency, Reuters reported.
Broad economic prospects for rural America may be looking up for the first time in years, even in the face of inflation and the risk of recession, the Wall Street Journal reports.
Soft wheat production in Romania is expected to fall to 9.31 MMT next season from last year’s record of 11.15 MMT due to. . .
The head of the International Monetary Fund (IMF) on Wednesday said the outlook for the global economy had “darkened significantly” since April. . .
Canadian farmers planted 25.4 million acres to wheat tis year, up from 25.0 million acres forecast in April and 2 million acres (8.7%) more than last year, according to Statistics Canada (Stats Can).
In the U.S., La Niña events tend to favor warmer and drier weather over the southern U.S., which can sometimes push up into Corn Belt.
The crop situation in Canada ranges from dryness/drought in areas of the Western Prairies to excessive wetness/flooding in eastern growing regions.