AI in Ag Attitudes Differ and Crude Oil Prices Ease
From the Western Ag Network, I’m Bob Larson with your Agribusiness Update.
**Farmers in the U.S. and Argentina have sharply different views about the benefits of artificial intelligence in agriculture.
A recent Purdue University survey found 23% of U.S. producers identified increased production as the main benefit of AI, 14% reduced labor, 11% reduced uncertainty, and 52% saw no meaningful benefit.
Argentine farmers were more positive. 37% increased production, 28% reduced uncertainty, 14% reduced labor, and just 21% no meaningful benefit.
**Crude oil prices have shown signs of easing, but diesel prices are not following suit, putting more pressure on the farm economy.
American Farm Bureau economist Faith Parum says crude oil and diesel prices don’t typically follow the same track, and the biggest reason we haven't seen prices come down is because of structural supply issues in the economy.
Parum says it’s hard to predict when or if the prices will come down.
**Foreign interests held 46.3 million acres of U.S. agricultural land at the end of 2024, representing about 3.6% of privately held ag land nationwide, according to USDA data.
Federal reporting requirements also cover certain long-term leases, including arrangements commonly used for wind and solar projects.
Nearly half of reported foreign-held acreage is forestland, while cropland accounts for 29% and pasture and other agricultural land represent about 22%.
