Lenders Urge Stronger Sugar Policy and Wheat Production Higher
From the Ag Information Network, this is your Agribusiness Update.
**Five dozen farm lenders and financial experts sent a letter to House and Senate Ag leaders urging Congress to strengthen U.S. sugar policy in the Farm Bill and oppose any efforts to weaken the farm safety net.
www.morningagclips.com reports the letter states, an effective safety net is essential when lenders consider extending operating loans to farmers, given the high levels of investments necessary to run a successful sugarbeet or sugarcane operation.
www.morningagclips.com/farm-lenders-financial-experts-urge-congress-to-support-u-s-sugar-policy/
**U.S. wheat production for 2024-25 is forecast at 2.008 billion bushels, the largest wheat crop since 2016-17.
Production is up 134 million bushels from the previous month and 11% over last year.
Larger production for Hard Red Winter and Hard Red Spring are the major factors driving the year-to-year increase, while smaller increases are seen for White and Durum.
Soft Red Winter is down from last year’s bumper crop.
**While consumers drink less milk, overall dairy sales are on a positive streak.
Cheese, butter, and yogurt are fueling category growth, along with new dairy-based products designed to capitalize on convenience, health, and snacking trends.
A new CoBank report says the outlook for retail sales remains strong with room for growth even as consumer preferences and purchasing behaviors evolve.
CoBank economist, Corey Geiger says the healthy snacking category is a growing trend dairy can capitalize on.
