Corn-Soy-Cotton Production Down and Organic Ag Trade Higher
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Corn, soy, and cotton production is down from last year, according to the USDA's National Agricultural Statistics Service.
Corn production is down 8% from last year, forecast at 13.9 billion bushels, while soybean growers are expected to decrease production 1%, at 4.38 billion bushels.
Cotton production is down 21% from 2021 at 13.8 million 480-pound bales.
Meanwhile, USDA's World Ag Supply and Demand report raised the price of corn te n cents to $6.75 per bushel.
**Ag Secretary Tom Vilsack announced USDA is accepting applications for its ReConnect Program loans and grants to expand high-speed internet access for millions of rural Americans.
The agency is making over $1 billion available in an effort to connect every American to affordable and reliable high-speed internet.
USDA is accepting applications for loans with available funds of $150 million, grants with available funds of $700 million, and combination loan/grant awards using $300 million.
The application deadline is November 2.
**USDA’s Economic Research Service reports organic trade reached $3.4 billion in 2021.
Since 2011, there has been an uptick in the total value of imported organic products, partially because more products are being tracked and because more high-value organic products, like blueberries and squash, are being imported.
The U.S. also exports organic food, and those exports have been steadily rising since 2011, reaching $0.7 billion in 2021.
