Latest WASDE Report and American Farmland Trust Awards
From Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The latest WASDE Report says U.S. corn production is forecast at 15.1 billion bushels, down 70 million to 173 bushels per acre.
The corn outlook predicts reduced supplies, down less than 1%, but 10% above 2022.
The season-average corn price received by producers was up a nickel to $4.95 a bushel.
Wheat supplies were raised by 85 million bushels, while the season-average farm price dropped 20 cents per bushel to $7.30.
**American Farmland Trust recently awarded more than $1 million to 110 farmers through the Brighter Future Fund.
The grant announcement came out on National Farmer’s Day.
This year, AFT received more than 1,500 applications from 48 states, an all-time high and almost double the number of applications last year.
Priority was given to applicants just starting their agricultural pursuits, veterans, women, or those with limited resources.
**The U.N.’s Food Price Index averaged 121.5 points in September, unchanged from August.
Declines in the price index for vegetable oils, dairy, and meat offset increases in the sugar and cereal.
That 121.5 reading was 10% below its corresponding level from a year ago and 24% from the all-time high in March 2022.
The Sugar Price Index took the biggest jump, rising 14.5 points to an average of 162.7 points.
