Americans continued to eat out while filling the pantry when Covid hit
Americans flooded the supermarket when the pandemic hit in early 2020, creating well-documented spot shortages of staples. But they also patronized restaurants at a steady rate in the early weeks, according to a USDA analysis of sales data, suggesting families at first were stocking up for an uncertain future rather than actually eating at home.
After roller-coaster ride, food prices are back at starting point
Global food prices skyrocketed following the Russian invasion of Ukraine last February, but they have returned to earth, said the FAO Food Price Index, based on monthly changes in a basket of food commodities.
TODAY’S QUICK HITS
Ag delinquency rates drop: Farm loan performance has strengthened, with less than 10 percent of commercial banks reporting loan delinquency rates above 3 percent, “the lowest share on record.” (Kansas City Federal Reserve Bank)
Tai warns on corn trade: During a meeting, U.S. trade representative Katherine Tai stressed to the Mexican trade minister the importance of uninterrupted U.S. corn exports to Mexico. (USTR)
California water restrictions loom: State water managers announced an initial allocation of only 5 percent of requested supplies from the State Water Project, and warned that severely reduced allocations are likely in 2023 if drought continues. (Los Angeles Times)
New USDA leaders: President Biden appointed Maximiliano Torres, a longtime congressional adviser, as USDA rural development director in Puerto Rico, and appointed Ginger Sykes Torres in Arizona and William Bunce in Wyoming as state directors for the Farm Service Agency. (White House)
Covid death rate rises: The rural death rate from Covid-19 climbed to 0.95 per 100,000 residents, compared to the urban rate of 0.75 per 100,000 people, according to CDC data. (Daily Yonder)
ON THE CALENDAR
Monday
Agriculture Secretary Tom Vilsack announces an acceleration of research to improve nutrition and health of Americans, 9 a.m. ET.
Tuesday
Senate runoff election in Georgia. Sen. Raphael Warnock, a member of the Senate Agriculture Committee, faces Republican Herschel Walker. Voting hours are 7 a.m.-7 p.m. ET.
Farm Foundation holds a forum online, “What to expect from the 2023 farm bill,” 10 a.m. ET. Speakers are Rep. Glenn Thompson, senior Republican on the House Agriculture Committee; Jonathan Coppess, associate professor at the University of Illinois; and Chris Adamo, former staff director of the Senate Agriculture Committee.
Agriculture Undersecretary Chavonda Jacobs-Young is lead witness at Senate Agriculture Committee hearing, “Farm Bill 2023: Research programs,” 10 a.m. ET, 328-A Russell.
USDA releases America’s Farms and Ranches at a Glance: 2022 Edition, 9 a.m. ET. The Economic Research Service will hold a webinar at 1 p.m. ET to discuss the report. Formerly called America’s Diverse Family Farms, the report “provides the latest statistics on U.S. farms, including production, financial performance, pandemic assistance, and farm household financial characteristics by farm size,” says USDA.
Purdue University releases Ag Economy Barometer, a monthly gauge of the health of the farm economy.
Farm Journal Foundation releases a report, “Addressing the persistent shortage of food animal veterinarians and its impact on rural communities,” Washington.
National Grain and Feed Association holds the annual Country Elevator Conference, through Thursday, St. Louis.
American Seed Trade Association holds annual CSS and Seed Expo, “America’s largest seed industry conference,” through Friday, Chicago.
The Almond Board of California holds the annual Almond Conference, through Thursday, Sacramento, California.
Wednesday
USA Rice holds its annual outlook conference, through Friday, Austin, Texas.
Waterways Council holds annual Waterways Symposium, through Thursday, Paducah, Kentucky.
UN Convention on Biological Diversity holds 15th biodiversity conference, through Dec. 19, Montreal.
Thursday
Food Research and Action Center holds 50th anniversary celebration, Capital Hilton.
U.S. Cattlemen’s Association holds annual meeting, through Saturday, Nashville. Two antitrust officials in the Biden administration, Deputy Assistant Attorney General Micheal Kades and Andy Green, USDA competition adviser, are to speak on Saturday.
Friday
USDA releases monthly Crop Production and WASDE reports, noon ET.
