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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.
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.
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.
E.U. Tariff Suspension Extended and High Ag Prices Continue in 2024
The Agribusiness Update
USTR Katherine Tai applauds the European Union’s announcement that it’s extending the suspension of tariffs on U.S. goods, and lingering high prices are expected to take a bigger toll on the economy in 2024.
Cattle Inventory Falls
Washington State Farm Bureau Report
Bernt Nelson, American Farm Bureau Federation Economist, says the USDA Cattle Inventory Report showed a larger decline than analysts expected.
Larger California Almond Crop and U.S. Gas Prices Up
The Agribusiness Update
California almond farmers are expected to harvest a slightly larger crop this year, according to a new report from the USDA, and the nation's average gas price increased 2.1 cents last week to $3.55 per gallon with DIESEL was up 2.7 cents at $3.83.
California Wildfire Worries and Gas Prices Fall Again
The Agribusiness Update
A winter with more rain and snow than usual hasn't erased California's fears of an aggressive wildfire season, and the average National gas price fall for the third straight week.
California Wildfire Worries and Gas Prices Fall Again
The Agribusiness Update
A winter with more rain and snow than usual hasn't erased California's fears of an aggressive wildfire season, and the average National gas price fall for the third straight week.
Florida Foreign Purchases of Ag Land and Gas Prices Fall Again
The Agribusiness Update
Florida Ag Commissioner is pleased with the passage of Senate bill aimed at stopping foreign powers from buying ag lands, and the average National gas price fall for the third straight week.
California Ag Land Foreign Purchases and Farm Sector Real Estate Debt
The Agribusiness Update
California legislators propose bill to bar foreign governments from purchasing ag land in state, and USDA data shows farm sector debt tied to real estate expected to reach record high in 2023.