In Spite of Hurricane Ida and Top Pumpkin Producing States
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Global ag companies Archer-Daniels-Midland and Bunge likely turned in solid earnings in the third quarter despite weeks of suspended shipping caused by Hurricane Ida.
Both companies benefitted from good margins in corn and oilseed processing and readily available grain supplies to trade, process, and ship overseas.
Export shipments from the Louisiana Gulf Coast, our biggest grain hub, were halted for weeks after Hurricane Ida slammed into the area on August 29.
**Pumpkins are a staple of fall traditions for many Americans who pick them, carve them into jack-o’-lanterns, or bake pumpkin desserts.
Although pumpkins are grown in many states, most of the production comes from ten states.
By acreage and by weight, Illinois is consistently the nation’s largest pumpkin producer.
In 2020, Texas led the nation in the VALUE of pumpkins produced at $25.9 million, followed by Pennsylvania, Illinois, and California.
**The nation’s average gas price increased 3.8 cents from a week ago to $3.36 per gallon.
The national average is up 17.1 cents from a month ago and $1.21 per gallon higher than a year ago.
But, “there may be some light at the end of the tunnel,” according to GasBuddy’s Patrick De Haan, who says, “The sharp rise we’ve seen over the last three weeks should begin slowing down soon, barring another jump in the price of oil.
