U.S. Department of Agriculture
USDA raised its consumer food price forecast again, to 8.5% to 9.5% for 2022. The agency had initially predicted a 2% to 3% rise in prices. Eggs, fats and oils, and poultry prices are making the biggest gains.
Sens. John Thune (R-S.D.) and Amy Klobuchar (D-Minn.) led their colleagues in requesting USDA to address ERP implementation issues. ERP helps producers offset impacts of natural disasters that occurred in 2020 and 2021.
According to the USDA, 2020 farming activities in the U.S. made up 11.2 percent, or 670 of 5,981 million metrics tons, of the U.S.’s total carbon contribution.
The CPI, an inflation gauge measuring what consumers pay for goods and services, rose 1.3% from May to June. Prices were up across the economy, with gasoline far outpacing other categories, up 11.2%.
The July WASDE report from USDA shows while soybean production this year is expected to fall due to fewer soybean acres planted across the U.S., USDA is also forecasting a drop in exports.
Soybean acres are estimated at 88.3 million, up 1% from last year. This is down from March’s estimate of 90.955 million and below the pre-report trade average of 90.446 million.
USDA Secretary Tom Vilsack announced agricultural producers have already received more than $4 billion through the Emergency Relief Program (formerly WHIP+), representing 67% of the $6 billion projected to be paid.
Nine farmers signed the the Declaration of Independence. One who isn’t listed in the National Archives could also be categorized as one of the Founding Fathers who gave virtually all for the cause of independence
In a letter sent to President Biden, the Republicans argue the situation started before Russia’s invasion of Ukraine, saying the administration has failed to take serious action to increase agricultural production.
Transforming the U.S. food system by improving supply chains and addressing issues exposed by the Covid-19 pandemic was detailed by USDA Secretary Tom Vilsack during a speech at Georgetown University.