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WTI oil prices crossed the $90 mark last week for the first time since 2014. Strong oil prices typically translate into strong demand for corn ethanol, but some analysts warn electric vehicles may put that on a detour.
As soybean prices race higher, some farmers may look to switch acres to soybeans this year. U.S. Farm Report analysts say with the acreage debate already heating up, the acreage battle could be the wildest battle yet.
No matter where you travel across the country right now, farmers share similar concerns. The latest Ag Economy Barometer fell to its lowest reading since July 2020 as the input situation weighs outlooks.
Mounting conflict in the breadbasket of Europe is driving volatility in wheat markets as Russia and Ukraine account for 29% of global wheat exports.
If you’re short on employees, you’re not alone. New forces are at work, and I don’t see them changing any time soon.
2021 was a strong financial year for many farmers. For 2022, input costs are rising rapidly. One ag lender cites $700 per acre in some scenarios. That means farmers will need strong yields this season to break even.
On Monday the People’s Bank of China also announced a 0.1 percentage point cut to two of its key policy rates. It acted after GDP grew by more than 8% in 2021, but slowed down in the fourth quarter.
Dryness in South America prompted USDA to cut production estimates for key countries, such as Brazil, Argentina.
A new report from Texas A&M Agricultural and Food Policy Center (AFPC) a 50% rise in fertilizer prices equates to an average of $128,000 per farm. The largest per-acre impact would falls on rice farms at $62.04 an acre.
USDA will release several reports Wednesday, January 12, including Crop Production, Grain Stocks and WASDE. With declining outlooks for South America’s crop, Garrett Toay and Brian Splitt break down what to watch.