White House slams Russia over ransomware attack on JBS
President Biden will meet President Vladimir Putin as planned on June 16 “as a vital part of defending America’s interests,” said a White House spokeswoman on Tuesday after holding Russia culpable for the ransomware attack that crippled meatpacker JBS.
Farmland prices rise by up to 15 percent in hot market
With cash in their wallets, farmers are joining investors and other bidders to drive up prices for farmland, said the largest U.S. farm management and real estate company on Tuesday.
Cover crops get premium treatment by USDA
Farmers are eligible for a “premium benefit’ of up to $5 an acre on crop insurance coverage if they planted cover crops this year, said USDA’s Risk Management Agency on Tuesday. The so-called Pandemic Cover Crop Program is part of the administration’s $6 billion Pandemic Assistance for Producers initiative.
Today’s Quick Hits
Glum farm outlook: Despite a boom in commodity prices, only 27 percent of farmers taking part in the monthly Ag Economy Barometer survey expect good times in U.S. agriculture during the next five years, the lowest level of confidence in the future since the survey began in October 2015 and a decline of 12 points from the previous month. (Purdue University)
POET gets bigger: The largest U.S. ethanol producer, POET, expanded its capacity by 40 percent, with the purchase of all of the biofuel assets of Flint Hills Resources. (DTN/Progressive Farmer)
Kansas farm income zooms: Net farm income for Kansas farmers is forecast to soar by 24 percent this year due to high grain prices and the third round of coronavirus relief payments, according to Kansas Farm Management Association data. (Kansas State University)
Brazil okays GE salmon: Brazilian regulators, like their U.S. and Canadian counterparts, have approved the sale of genetically engineered salmon for human consumption, said the company that developed the fish. (AquaBounty)
Small CFAP payout: In the week that ended on Memorial Day, the USDA issued the smallest amount of payments, $23 million, to producers through its Coronavirus Food Assistance programs since it reopened applications on April 5. (USDA)