California Water Woes Continue and USDA Fertilizer Funding

California Water Woes Continue and USDA Fertilizer Funding

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**California’s bleak 2021-22 water year officially ended September 30, without much hope for a better year ahead.

The California Department of Water Resources says another parched year may be in the works thanks to a continuing La Niña atmospheric phenomenon in the Pacific Ocean, which generally means warmer, drier conditions.

Last week, Lake Shasta, the largest Central Valley reservoir, stood at 59% of its historic average, less-than-promising news for farmers.

**A new federal grant program seeks to increase American-made fertilizer production. Ag Secretary Tom Vilsack announced the $500 million in grants, intended to spur competition in the fertilizer sector and combat price hikes on U.S. farmers.

The Fertilizer Production Expansion Program is part of a government-wide effort to promote competition in agricultural markets.

The Commodity Credit Corporation grants will support independent, innovative and sustainable American fertilizer production to supply American farmers.

**Ending the 14-week stretch of declining gas prices, the nation's average gas price posted a rise of 3.2 cents from a week ago to $3.67 per gallon.

The national average is down 17.5 cents from a month ago but 49.3 cents higher than a year ago.

But the national average diesel price went down 5.1 cents over the last week and now stands at $4.88 per gallon.

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