Supply Chain
Saudi Arabia’s energy minister said on Monday that oil markets could face a dangerous period as reduced investments in exploration and drilling threaten to cut crude production by 30 million barrels per day by 2030.
The latest CPI shows drivers are seeing motor fuel prices up 58% at the pump compared to a year ago. In total, the new data released Friday shows U.S. inflation jumped 6.8% last month, the fastest rate in 39 years.
As U.S. consumer spending and excess savings are both on the rise, John Phipps says the pandemic stirred up the status quo, and now there’s a key question economists are asking as the calendar flips to 2022.
Farmers have asked the DOJ to investigate whether recent spikes in fertilizer prices are attributable to market manipulation by fertilizer companies, according to a letter sent by the Family Farm Action Alliance.
Global demand has been stable even as shrinking supplies have pushed prices to multiyear highs, but recent shortfalls in some U.S. exports are an example of how U.S. products are priced out of the market when costs soar.
The hunger for dairy products internationally is on pace to set new records in 2021, much of that due to China. Supply chain hurdles haven’t curbed the record demand so far, and experts say that’s been no easy feat.
President Biden planned to meet with chief executives of major retailers and companies to discuss how to move goods to shelves as the U.S. holiday shopping season begins in the shadow of the Omicron coronavirus variant.
Inflation is effecting consumers across the country. And as Americans prepare to gather for Thanksgiving this year, it will cost most Americans more than it did last year, but not the highest price ever.
The White House announced Tuesday it’s tapping into oil reserves in an effort to help relieve the rising prices at the pump. But could the decision drive oil prices higher and impact corn prices? Analysts weigh in.
One result of the pandemic was a spike in savings rates. In the U.S. last April, Americans collectively saved a record 30% of their income. John Phipps looks at China’s savings rate and what it’s meant for exports.
The supply chain constraints are continuing to plague agriculture. As farmers work to make input decisions for the 2022 season, economists expect high input prices to persist through spring.
Members of the United Auto Workers Union (UAW) approved a new six-year deal on Wednesday with a 61% vote. The new agreement includes a signing bonus, wage increases, as well as enhanced retirement options.
In an op-ed written by NCGA CEO Jon Doggett, he says fertilizer executives are bringing in climbing profits at the expense of farmers, referring to those fertilizer companies as the “Fertilizer Oligopoly.”
Tyson Foods Inc beat quarterly profit estimates on Monday and forecast fiscal 2022 revenue above market expectations on rising meat prices and improving demand from restaurants that reopened after COVID-19 restrictions.
“We’re going to do it differently. We’re going to choose active ingredients we haven’t used before. We’re going to do different kinds of production activities,” says Allan Gray at Purdue University.
Inflation levels are now at levels the U.S. hasn’t seen in three decades. The latest Consumer Price Index (CPI) showed a 6.2% spike over the past 12 months, the largest increase since 1990. Beef prices are up 20%.
The COVID-19 pandemic has exposed the fragility of global supply chains.
After months of negotiation, the House passed the $1.2T infrastructure Bill. With $550 billion in new spending, from roads and bridges to a boost to broadband, we look into what’s in the bill for agriculture.
Since May 2020, the national average retail prices of fuels have nearly doubled. So, what’s driving the increase in prices? John Phipps breaks down the reality of politics versus economics.
CF Industries said a shortage of nitrogen fertilizer means the world could see a reduction in global crop yields next year. With fertilizer prices continue to race higher, what’s the cure? Ag economists weigh in.
Ford Motor will require most of its 32,000-strong U.S. salaried workforce to be vaccinated by Dec. 8. The second largest U.S. automaker said on Wednesday more than 84% of U.S. salaried employees already are vaccinated.
If you walk into the grocery store today, the average American will fork over $7 per pound for bacon. The record prices may not be over yet, but pork producers aren’t winning with the run-up in bacon prices, either.
The theme of Covid shutdowns, along with shifts to greener energy and other decisions, has led to a network of shortages that threaten home heating in Britain, electricity in Brazil, and availability of power in China.
As labor woes continue to cripple meat processing plants, Missouri is rolling out a unique concept to answer many processors’ biggest need. The classroom on wheels will provide workforce development at a pivotal time.
U.S. tractor maker Deere & Co agreed on a new six-year contract with the United Auto Workers (UAW) union that would be subject to a vote by the company’s striking workers, the company said in a statement on Saturday.
The price shoppers pay for items like meat at the grocery store are expected to continue the rapid rise. An updated Consumer Price Index shows wholesale beef prices could increase 20% this year.
From nitrogen to glyphosate, prices are posting 100% to 300% increases right now. Some farmers say they can’t even get retailers to price product until the inputs actually arrive at the retail facilities.
Input prices continue to climb in the U.S. with some farmers fearing they may not even be able to source enough glyphosate and glufosinate for next year. But the situation may be even worse for farmers in Brazil.
Supply chain issues are becoming one of the biggest concerns for agriculture, and some economists say as the bottlenecks reach a critical point, it could take at least a year to remedy chaos in the global supply chain.
Positive demand news late in the week meant soybean prices tried to recover from the double digit losses after the USDA reports. And it’s more than price that could have the final say in the 2022 acreage debate.