Low water on Mississippi hits grain prices at the farm gate
Farmers in the Midwest and the mid-South are paying the price for low water on the Mississippi River in the form of lower cash bids for their corn and soybeans — as much as $2 a bushel lower for soybeans, said USDA economists on Wednesday. At the same time, the cost of transporting fertilizer upriver has increased, and neither situation is likely to change before late winter.
Automation can be an agricultural boon
Agricultural automation, ranging from tractors to sensors, drones, and artificial intelligence, can play an important role in making food production more efficient and environmentally friendly, said the annual State of Food and Agriculture report on Wednesday.
TODAY’S QUICK HITS
Kansas race leans Democratic: With a reapportioned congressional district drawn to favor Democrats, the rematch between Rep. Sharice Davids, a member of the House Agriculture Committee, and Republican Amanda Adkins “leans Democratic,” said a political handicapping site. (Sabato’s Crystal Ball)
CHS reports record income: The company, the largest U.S. agribusiness cooperative, reported record net income of $1.7 billion in the fiscal year ending Aug. 31, thanks to strong demand for grain and petroleum, and said it would return $1 billion to owners in the year ahead. (CHS)
Put conservation money in bay: Armed with a report showing the benefits of reduced agricultural runoff, the Chesapeake Bay Foundation said cleanup of the bay should receive a “significant share” of the $20 billion earmarked for USDA stewardship programs in the climate, healthcare, and tax law. (Chesapeake Bay Foundation)
Russia rejoins grain pact: Russia reversed course from the weekend and said it was rejoining the multilateral agreement for the export of grain from Ukrainian ports on the Black Sea, potentially increasing global food supplies. (CNN)
State challenges merger: Washington State Attorney General Bob Ferguson filed suit in state court to block Albertsons from paying a $4 billion “special dividend” to shareholders before state and federal regulators can scrutinize its proposed merger with Kroger. (Washington Attorney General)
