Ethanol Production Highest in a Month and Global Food Prices Down
**The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,800 per acre for 2022, up $420 per acre from 2021.
According to www.morningagclips.com, Alabama farm real estate values increased $200 per acre and Florida increased $580 per acre. Georgia’s farm real estate values increased
$290 per acre and South Carolina increased $200 per acre.
**The Energy Information Administration says ethanol output jumped to its highest level in a month while inventories increased slightly.
Production of the biofuel rose to an average of 1.043 million barrels a day during the week ending on July 29.
That’s up from 1.021 million barrels daily during the previous week and is the highest output since the seven days that ended on July 1.
**Global food prices fell by the biggest amount since 2008 due to easing concerns over the supplies of grains and vegetable oils as Ukraine restarted its exports.
The United Nations world food cost index dropped almost 9% in July.
Bloomberg says the index is at its lowest level since January before Russia’s attack on Ukraine helped push the cost of food close to record levels.
It’s the fourth-straight monthly drop, but
food prices are still high, and global hunger is getting worse.