Economic challenges worldwide force retreat in farm exports
After setting a record last year, U.S. farm exports will shrink 8 percent this year, due to tightening economic conditions worldwide and lower commodity prices, said the Agriculture Department on Wednesday. The $15.4 billion decline in sales would be most pronounced for corn, cotton, beef, and soybeans.
Think tank says SNAP time limit would hit California the hardest
One in six of the older Americans targeted by an expansion of SNAP work requirements in the debt ceiling bill negotiated by House Speaker Kevin McCarthy and President Biden lives in California, said the Center on Budget and Policy Priorities on Wednesday.
AG INSIDER
Is seaweed farming a climate savior or ‘Monsanto of the sea’?
Seaweed is being touted as a multifaceted solution to climate change: able to absorb atmospheric carbon, reduce cattle’s methane emissions, provide feedstock for biofuels, and feed the world. To play a significant role in stabilizing the climate, though, seaweed farming would need to scale to a level larger than anything North America has ever seen. This nascent transformation — from small-scale, coastal operations to a large, increasingly offshore industry — is raising a host of scientific and ethical questions.
TODAY’S QUICK HITS
Storage costs pinch elevators: Facing an array of factors that are driving up the cost of storing grain, co-op elevator operators are considering lowering their bids for local grain. (CoBank)
Farmworker shortage: At a Senate hearing, growers said they increasingly rely on guestworkers, who are in the United States on short-term visas, to harvest fruit and vegetable crops because they cannot find enough workers locally. (The Packer)
Cargill exits China poultry: The agribusiness giant said it would sell its poultry business in China to a Beijing-based private equity firm amid a retrenchment among poultry processors worldwide because of high feed costs. (Star Tribune)
Major merger mulled: A merger of grain traders Bunge and Viterra, the subject of rumors for a week, would create a company nearly as large as Archer-Daniels-Midland and Cargill. (Reuters)
Limit on Ukraine grain?: The EU agriculture commissioner said discussions were underway on extending a ban on imports of Ukrainian grain into Poland, Bulgaria, Slovakia, Hungary, and Romania until Oct. 31 or even the end of 2023. (AgriCensus)
