Commodity prices soften, although still elevated
Steered by fears of recession and a clearer picture of this year’s global grain harvest, the sky-high commodity prices fueled by Russia’s invasion of Ukraine are losing momentum, analysts said on Thursday. The USDA was likely to scale back its estimates of record-high farm-gate prices for this year’s wheat and soybean crops despite the uncertainties caused by warfare in the Black Sea region.
USDA seeks more grocers for online SNAP sales
One in seven SNAP households buys groceries online, according to the USDA — phenomenal growth since the option first became available in New York State in spring 2019. Now, with online shopping offered in 49 states, the Agriculture Department is looking to flesh out the network of stores that offer digital sales to food stamp recipients.
Corn Belt sees ‘rapid onset of drought’
Fifteen percent of the Midwest is affected by drought, twice as much of the region as a week ago, said the Drought Monitor on Thursday, as corn and soybean crops entered their reproductive stages. Illinois, Indiana, and Missouri had the largest increases, up 10 percentage points or more.
A huge bed of pricey scallops couldn’t save this Mexican fishing village
In Teacapán, a small fishing village on the coast of Sinaloa, Mexico, Belen Delgado made a discovery that would change his life and the lives of everyone he knew. It was 2007, and years of overfishing had depleted the local supply of fish. The town’s fishermen were struggling to provide for their families, and businesses failed as the local economy dried up. That’s when Belen caught his first glimpse of the callo de hacha, a large black scallop that’s one of the most prized species in the Gulf of California.
TODAY’S QUICK HITS
New dicamba trial: A U.S. appeals court in St. Louis ordered a new trial to determine punitive damages that Bayer and BASF must pay for harm caused by the weedkiller dicamba at a Missouri peach orchard. (Reuters)Sysco alleges conspiracy: In an antitrust lawsuit filed in federal court in Houston, food service company Sysco alleged that meatpackers Cargill, JBS, Tyson Foods, and National Beef had “exploited their market power … by conspiring to limit the supply and fix” wholesale beef prices since at least 2015. (Courthouse News)
From biodiesel to renewable diesel: The higher returns and “drop-in” advantage of renewable diesel mean it will supplant biodiesel in the near term, said an investment bank, and the scramble for feedstocks will be mediated by limits on government incentives for the biofuel. (Ocean Park)
New faux-meat labels in France: Starting Oct. 1, French companies that make plant-based protein foods will be barred from using words such as “steak” or “sausage” on their labels, although “burger” will be allowed. (Modern Farmer)
Backyard bird flu: Fewer and fewer outbreaks of highly pathogenic avian influenza are being reported, and they’re almost exclusively in backyard flocks. The last outbreak in a commercial flock was on June 9 in Colorado. (USDA)
