Rural broadband projects get $667 million in USDA backing
The White House announced $677 million in grants and loans today for high-speed internet service in rural areas of 22 states and the Marshall Islands. With the fourth round of funding, the USDA has put $3.1 billion into 179 rural broadband projects through its ReConnect program in less than two years.
Impetus slows for higher cropland values, say ag bankers
The farm real estate market was resilient in the face of higher interest rates and “some moderation” in the farm economy this spring, according to commercial lenders surveyed by five regional Federal Reserve banks.
TODAY’S QUICK HITS
Outspent 800 to one: In the United States, about 800 times more public funding goes into meat and poultry products than to plant-based or lab-grown alternatives, said a Stanford analysis. (Stanford)
Boom-bust rice price: Rice prices will rise temporarily as a result of India’s ban of white rice exports, but growers will see “a prolonged period of abnormally depressed rice prices and lower incomes” whenever India, the world’s largest rice exporter, removes the ban. (CoBank)
Sell China poultry business: Tyson Foods is trying to sell its poultry business in China, said three unnamed sources; rival Cargill sold its China poultry business in May to a private equity firm. (Reuters)
Eliminate horse ‘soring’: The USDA proposed changes in its horse protection rules to eliminate “soring,” practices that exaggerate the high gait of walking horses entered in competitions and which can cause pain, inflammation, and lameness. (Animal and Plant Health Inspection Agency)
Grain deal without Ukraine: Russia was negotiating a deal with Turkey and Qatar to supply grain to African nations and which would exclude Ukraine, which has been a supplier to the region, said the German newspaper Bild. (Kyiv Independent)
ON THE CALENDAR
Monday
Pro Farmer holds an annual crop tour to estimate corn and soybean yields in seven seven major states, from South Dakota to Ohio, through Thursday.
U.S. trade representative Katherine Tai discusses trade issues with ASEAN economic ministers through Aug. 22, Semarang, Indonesia.
USDA releases weekly Crop Progress report, 4 p.m. ET.
Tuesday
Agriculture Secretary Tom Vilsack speaks to the Sustainable Forestry and African American Land Retention Network and announces funding for healthy forests, Brunswick, Georgia.
Wednesday
Agriculture Secretary Tom Vilsack announces funding to increase competition in the farm and food sector, Atlanta.
U.S. trade representative Katherine Tai attends a meeting of G20 trade and investment ministers. She is expected to hold bilateral meetings with her counterparts on the sidelines of the meeting, through Friday, Jaipur, India.
American Coalition for Ethanol holds 2023 ACE Annual Conference, through Friday, Minneapolis.
USDA releases monthly Cold Storage report,3 p.m. ET.
Thursday
Agricultural Business Council of Kansas City hosts a luncheon discussion of developments in the fields of sustainable aviation fuel, carbon capture, and the “role of traditional and non-traditional energy,” 12:30 a.m. ET, Kansas City.
Friday
USDA releases monthly Food Price Outlook, 9 a.m. ET. At present, the USDA forecasts food price inflation at 5.8 percent this year and 2.4 percent in 2024. Over the long term, food prices have increased 2.8 percent annually.
USDA releases annual Mushrooms report, 3 p.m. ET.
Saturday
Anniversary of adoption in 1920 of the 19th Amendment, assuring women’s suffrage. The day also is celebrated as Women’s Equality Day. The campaign for the vote began at the Seneca Falls convention — the world’s first women’s rights convention — in Upstate New York in 1848.
U.S. trade representative Katherine Tai meets government officials and business leaders, New Delhi, India.
