USDA says food inflation rate to soar, highest since 2008
Prices for common elements of the U.S. diet, from poultry and dairy to fruits and vegetables, are rising at double or triple their usual rate, said the government in forecasting the highest annual food inflation rate in 14 years. The Agriculture Department said food prices would rise an average of 5 percent this year, an abrupt two-point increase from its forecast a month ago.
Convicted of felonies, Fortenberry to leave Congress on Thursday
Nebraska Rep. Jeff Fortenberry, who vowed to appeal his conviction of three felonies related to an illegal $30,000 campaign contribution, said he would resign from the House effective Thursday. Before the indictment last October, Fortenberry was the senior Republican on the House subcommittee that oversees USDA and FDA spending.
Bird flu found in flock in No. 1 turkey state
For the first time, highly pathogenic avian influenza (HPAI) was confirmed in Minnesota, the top turkey-producing state in the nation, said agricultural officials over the weekend. Some 14.6 million birds in domestic flocks have died of HPAI or in culling of infected herds to reduce the spread of the viral disease this year.
British Columbia’s booming wood-pellet industry threatens old-growth forests
BC’s inland rainforest — which once totaled over 1.3 million hectares — is endangered, according to International Union for Conservation of Nature criteria, and could experience ecological collapse within a decade if current logging rates continue. Historically, lumber and pulp mills processed most of the wood harvested in BC, but environmentalists are battling with a newer, rapidly growing global industry: wood pellets.
Today’s Quick Hits
Biden seeks wealth tax: As part of its proposed budget for the fiscal year that begins Oct. 1, the White House will ask Congress to approve a minimum tax targeting billionaires; it would apply to around 700 Americans. (Washington Post)
USDA offers meat grants: Up to $23.6 million will be awarded in competitive grants to groups that would provide technical assistance to small and mid-sized meat and poultry processors who want to expand their operations. (USDA)
U.S. lets food flow: As the Biden administration applies economic sanctions to Russia, it allows U.S. food and agribusiness companies to continue operations in Russia in order to keep food exports moving. (Politico)
Global croplands expand: In the past two decades, cropland around the world has expanded 9 percent, a space equal to the size of Egypt, half of it replacing natural vegetation such as grasslands and forests, according to a project at the University of Maryland. (NASA)
China urges self-sufficiency: Chinese leaders put new emphasis on domestic grain and fertilizer production amid the surge in commodity prices that accompanied warfare in Ukraine. (South China Morning Post)
On The Calendar
Monday
Organic Trade Association holds annual Organic Week, with the theme: “The future of organic,” through Wednesday, Washington.
White House is expected to release its proposed fiscal 2023 budget.
Tuesday
Agriculture undersecretaries Robert Bonnie and Jennifer Moffitt speak at Organic Trade Association conference, Washington. Bonnie, who oversees farm subsidies and land stewardship, is to be part of a panel on climate mitigation. Moffitt, undersecretary for regulatory programs, is scheduled as keynote speaker at 1:25 p.m. ET.
House Agriculture subcommittee hearing, “A 2022 review of the farm bill: Horticulture and urban agriculture,” 10 a.m. ET..
USDA releases monthly State Stories, with weather and crop summaries for 44 states and the New England area. The report is issued on or near the first Tuesday of the month in January, February and March.
Wednesday
House Agriculture subcommittee hearing, “A 2022 review of the farm bill: Stakeholder perspectives on SNAP,” 10 a.m.
USDA releases quarterly Hogs and Pigs report, 3 p.m. ET. The USDA says, for the first time, it will livestream the briefing that is given to the agriculture secretary as part of major reports. The livestream is scheduled to begin at 3:05 p.m. ET at www.youtube.com/usdanass.
Thursday
House Agriculture Committee hearing, “State of the CFTC,” 10 a.m. ET.
USDA releases annual Prospective Plantings and quarterly Grain Stocks reports, noon ET. The plantings report, based on a survey of nearly 80,000 growers during the first two weeks of March, will be the first broad gauge of U.S. crop outlook in the wake of Russia’s invasion of Ukraine. Analysts expect growers to plant 92 million acres of corn, 88.7 million acres of soybeans and 47.8 million acres of wheat, according to a Reuters poll. If correct, it would be slightly less corn, nearly 2 percent more soybeans and 2.4 percent more wheat than last year. The USDA says it will livestream the briefing that is given to the agriculture secretary as part of major reports. The livestream is scheduled to begin at 12:05 p.m. ET at www.youtube.com/usdanass.
Farmdoc daily hosts webinar, “Implications of USDA Grain Stocks and Prospective Plantings reports for corn and soybean prices,” 3 p.m. ET.
USDA releases monthly Agricultural Prices report, 3 p.m. ET.
Friday
April Fool’s Day, by tradition, is a day to celebrate “practical pleasantries,” pranks and hoaxes. “Although the day, also called All Fools’ Day, has been celebrated for several centuries by different cultures, its exact origins remain a mystery,” says History.com. One of the best hoaxes is the BBC spoof about the spaghetti harvest in Switzerland. Also enjoyable is the video report of rain ruining the marshmallow crop in North Carolina.
