Not Surprising in 2024 and Biological Push Continues in 2024

Not Surprising in 2024 and Biological Push Continues in 2024

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

**Farm Journal and Purdue University’s December Economists’

Monthly Monitor shows views slightly more optimistic than they were a month ago as they talked about what unexpected news headlines they wouldn’t be surprised to see in 2024.

The responses include China falling into a big recession and inflation will support managed money returning to the commodities.

They wouldn’t be surprised to see a second farm bill extension, or record beef imports.

**As agriculture looks to 2024, AgriThority put together its top ten trends for the new year.

The first is a push for more biologicals and biostimulants.

They say climate-smart farming will get smarter as measurements behind the carbon market continue maturing.

AgriThority says precision ag will continue evolving with the onset of AI.

The company’s top ten also says sustainability isn’t going away, and soil health will continue evolving.

**Whether real or inflation-adjusted, yearly food spending in the U.S. increased steadily from 1997 to 2022, with the exception of 2008 and 9’s Great Recession and COVID in 2020.

Total food spending increased 70% from 1997 to 2022, hitting $1.81 trillion in 2020.

During that period, food eaten at home spending increased at 53% while food eaten away from home was up 89%.

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