Farmers Cash Bonanza and Bayer Reacts to Roundup Decision
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Lack of water will mean reduced rice production in the Sacramento Valley.
This is the time of year when farmers plant rice, but analysts believe acreage will be down about 20% because of water restrictions.
In some cases, rice farmers will leave land idle in order to transfer part of their water supply to users in other regions.
Although acreage will be down, rice planting has proceeded smoothly due to favorable spring weather.
**Farmers in the Midwest and Plains are reaping a cash bonanza that’s dramatically improved their finances a year after the pandemic pummeled commodity markets and prompted a record $46 billion in federal payments to agriculture.
Last week, according to www.agriculture.com, three Federal
Reserve banks said farm income strengthened early this year, a continuation of the improvement seen at the end of 2020.
www.agriculture.com/news/business/flush-times-for-farmers-buoyed-by-strong-markets-and-pandemic-aid
**Bayer is disappointed with a California federal appeals court decision upholding a verdict on its glyphosate product Roundup.
The plaintiff contends Roundup caused his cancer. He was initially awarded $80 Million dollars but that was later cut to $25 Million.
According to www.agrimarketing.com, Bayer says they believe the 9th Circuit decision is wrong because the EPA has determined that a cancer warning for Roundup is not warranted and is improper.
This is the second appeal lost by Bayer of three high profile Roundup cases.
www.agrimarketing.com/s/136372
