USDA triples funding for climate-smart ag projects
Showered by “amazing” proposals, the Biden administration will put $3.5 billion — three times more than originally planned — into pilot projects to mitigate global warming and create markets for climate-smart commodities. Agriculture Secretary Tom Vilsack said the demonstration projects would put the United States in the lead internationally in climate-smart agriculture.
Food inflation rate is up while U.S. rate inches down
Food prices mushroomed by 11.4 percent in the past year, said the government’s monthly inflation report on Tuesday. August was the 15th month in a row the food inflation rate increased, starting from 2.2 percent in May 2021.
High input prices imperil 2023 crops in Ukraine
Ukrainian farmers may reduce plantings of wheat and other crops for harvest in 2023 because warfare has cut their income at the same time they face high fuel and fertilizer costs, said two IFPRI analysts during a briefing on Tuesday. A small crop in Ukraine, usually a leading wheat and sunflower oil exporter, could prolong tight global supplies.
TODAY’S QUICK HITS
Rural poverty rate 15 percent: The U.S. poverty rate held steady at 11.6 percent in 2021, and the rural poverty rate of 15 percent was not significantly different from 14.1 percent in 2020. (Census Bureau)
Transformative farm bill needed: A coalition of more than 150 organizations urged passage of a farm bill in 2023 that will tackle climate change, expand public nutrition programs, promote competition, protect farmworkers, and advance social and racial equity. (Union of Concerned Scientists)
U.S. prepares for rail strike: With nearly a third of all freight shipped by rail, the Biden administration is making contingency plans for delivery of critical goods in case labor unions and freight railroads do not agree on a contract this week. (Reuters)
RFS ‘set’ is on track: EPA administrator Michael Regan said the agency is on track to announce the Renewable Fuel Standard for 2023 by Nov. 16, a “set” that could include multiple years and be the first biofuel mandate written solely by the EPA. (DTN/Progressive Farmer)
