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Deere Finishes Year Strong and Greer Nominated U.S. Trade Representative
The Agribusiness Update
John Deere finished the year stronger than expected after aggressively cutting production and seeing solid demand for new tractors and precision ag technology, and Jamieson Greer is President-elect Trump’s nominee for U.S. Trade Rep.
Farm Loans Highest in Years and Less Water Used for Irrigation
The Agribusiness Update
Farmers are taking out loans at a rate not seen in years as weakened crop prices weigh on the ag sector, and 2023 Irrigation and Water Management Survey results shows 81 million acre-feet applied in the U.S., below 2018 numbers.
Ag Tractor Sales Down and National 4-H Beyond Ready
The Agribusiness Update
Sales of ag tractors dropped 19% in September compared to September of last year, and the national 4-H program launched Beyond Ready, a nationwide initiative designed to empower ten million young people with skills, resilience, and confidence.
Interest Rate Cuts
Washington State Farm Bureau Report
One commodities expert says the markets seem to anticipate an interest rate cut during the Fed’s September meeting, some shockingly high.
California Walnut Challenges and Gas Prices Down for 3rd Straight Week
The Agribusiness Update
With more California walnut orchards being removed, the outlook for the industry is expected to improve as growers try to balance supply and demand, and the nation’s average gas price declined for the third straight week, falling 4.2 cents compared to a week ago to $3.37 per gallon.
California Walnut Challenges and Gas Prices Down for 3rd Straight Week
The Agribusiness Update
With more California walnut orchards being removed, the outlook for the industry is expected to improve as growers try to balance supply and demand, and the nation’s average gas price declined for the third straight week, falling 4.2 cents compared to a week ago to $3.37 per gallon.
California Almond Crop Estimates and USDA Farm to School Grants
The Agribusiness Update
California growers are expected to harvest 2.8 billion meat pounds of almonds this year, 13% more than last year, and Ag Secretary Tom Vilsack says USDA is awarding a record-breaking $14.3 million in Farm to School Grants.
Cold Impact on BC Fruit
Fruit Grower Report
After two years of weather extremes, followed by a devastating winter cold snap in January, some British Columbia tree fruit tree operations are clearing orchards and planting crops that will give them at least some cashflow this growing season.
Above Normal Hurricane Season and Lab-Grown Meat Opposition
The Agribusiness Update
Forecasters at the NOAA’s Climate Prediction Center are expecting an above-normal hurricane season, and new polling finds a majority of Republicans, Democrats, AND Independents support legislation mandating "lab-grown meat" labeling and other restrictions.
Dairy Cow Testing Numbers and Ag Trade Deficit Forecast Higher
The Agribusiness Update
Federal authorities have conducted tests on beef tissue from 96 cull dairy cows with 95 testing negative, and the U.S. ag trade deficit is projected to increase again to $32 billion, a $1.5 billion increase from February’s projection.
Regenerative Cotton Fund and Ag Trade Deficit Forecast Higher
The Agribusiness Update
A nationwide partnership led by the Soil Health Institute’s Regenerative Cotton Fund is creating opportunities for sustainable cotton farming, and the U.S. ag trade deficit is projected to increase again to $32 billion, a $1.5 billion increase from February’s projection.
California Almond Crop Estimates and North American Cattlemen Meet
The Agribusiness Update
California’s 2024 almond crop is expected to come in at 3 billion pounds, which would make it the second-largest crop on record, and the National Cattlemen’s Beef Association partner with their Canadian and Mexican counterparts.
Winter Wheat Production Report and Solar Energy Rentals of Farmland
The Agribusiness Update
U.S. farmers are expected to produce 1.28 billion bushels of winter wheat this year, up 2% from last year, according to NASS, and as solar energy is gaining traction across the country, it’s surprising how much solar companies pay farmers to lease their land.
Urban Ag Grant Applications and El Niño to La Niña Year
The Agribusiness Update
The USDA is accepting grant applications to support urban agriculture and innovative production, and the 2024 growing season is expected to see a transition from El Niño to La Niña in late summer through early fall.
California Planting Decisions and U.S. Ag Imports Outpace Exports
The Agribusiness Update
Falling commodity prices, rising production costs and water uncertainty are some of the factors weighing on planting decisions for California farmers this year, and the USDA reports U.S. ag IMPORTS exceeded exports by $16.6 billion in 2023.
American Peanut Council in South Korea and U.S. Ag Imports Outpace Exports
The Agribusiness Update
The American Peanut Council is in South Korea this week as part of the USDA’s agribusiness trade mission, and the USDA reports U.S. ag IMPORTS exceeded exports by $16.6 billion in 2023.
Number of US Wheat Farms Dropping and Beef Exports to Plummet
The Agribusiness Update
The Economic Research Service says the number of U.S. wheat farms has dropped substantially over time, and in 2024, U.S. beef exports are expected to be about 83% lower than 2023.
California Pistachio Record Crop and WASDE Report Relatively Unchanged
The Agribusiness Update
California pistachio growers are searching for potential emerging markets to handle expected record-shattering crops, and the March WASDE Report looks very similar to February’s numbers with the U.S. corn outlook unchanged.
Electrical Issues for California Wine and EU Scraps Pesticide Cuts
The Agribusiness Update
Farmers and vintners in San Joaquin County are expressing concerns over an electrical transmission project they say would bisect farm properties, and the head of the European Commission announced plans to scrap a proposed cutting of EU pesticide use in half following protests.
Florida Ag Policy and Commodity Forum and EU Scraps Pesticide Cuts
The Agribusiness Update
Florida Farm Bureau is excited to offer the second annual Ag Policy and Commodity Forum in Gainesville, and the head of the European Commission announced plans to scrap a proposed cutting of EU pesticide use in half following protests.