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Articles by “Big Shift
Farm Like A Banker: How To Fund Your Farm In A Rising Rate Environment
Just as your crops will be doing soon, financial risks are growing this year. “Producers are navigating the risks associated with narrowing profit margins in a high-cost environment,” says Jim Knuth, Farm Credit Services of America senior vice president of business development in Iowa. While this situation is drastically different than the past few years, it is not an unfamiliar landscape for farmers. The first step is to set realistic expectations for grain prices.
Trend Watch: Americans Choose Rice-Dominant Cuisines as Favorite Foods
ARLINGTON, VA – A newly published report analyzed America’s favorite cuisines and found that Latin American and Tex-Mex, followed by Asian food – all that feature rice as a primary ingredient – have knocked longtime favorite, Italian food, out of the top spot. The report, Menu MVPS: Top Dishes at Major Chains, from Datassential, a food and beverage research firm, indicates increased opportunities for rice across the foodservice landscape.
Farmers Business Network Releases Industry’s First Artificial Intelligence Ag Advisor
SAN CARLOS, Calif – Farmers Business Network (FBN), the global AgTech platform and farmer-to-farmer network, today announced the launch of an industry-first artificial intelligence (AI) powered agronomic advisor, named Norm, to provide farmers with a wide array of agronomic intelligence. FBN is inviting its members to experiment with Norm, helping refine the feedback it provides.
Kind Snacks Tests Regenerative Agriculture and New Technologies for Almond Farming
Nearly 80 percent of the world’s almonds are grown in California. A pilot project in the state aims to make almond farming more sustainable with regenerative agriculture. Regenerative agriculture uses a variety of methods to improve soil health with the added benefit of reduced greenhouse gas emissions. The Kind Almonds Acres Initiative combines new technologies with best regenerative practices to understand how they can be applied to growing almonds, Kind Snacks’ top ingredient.
Thompson On Cotton: The Dreaded R Word
In its search for guidance, the market was confronted with mixed signals last week. So to no surprise, it remained rangebound as seen by May futures trading in a narrow scope of fewer than two cents before closing the week at 82.86, down 34 points. December futures traded in an even smaller range of just over a penny before settling at 82.80 losing 44 points. Except for a brief break to the downside in mid-March the market has traded sideways in the low to mid-eighties since November of last year.
Stamp Out Entitlement: Develop Ownership Criteria For Your Farm
A desire to be part of the farm can quickly slide into an expectation of control. As you look at transitioning leadership and ownership of your farm to the next generation, be ready to tackle entitlement issues. “If you are experiencing the phenomena of entitlement, you must acknowledge it and develop a plan for how you’re going to deal with it,” says Rena Striegel, president of Transition Point Business Advisors.
USDA Release Report Showing The Use Of Cotton By Consumers
(USDA) U.S. retail cotton use–an estimate of cotton product usage by consumers–decreased 8 percent in 2022 to 9.1 billion pounds. This decline was realized after a nearly 30-percent surge in 2021 when U.S. retail cotton use rebounded from the effects of the Coronavirus (COVID-19) pandemic in 2020. In the United States, most retail clothing purchases are of imported products. Accordingly, clothing imports are used as an economic indicator for the health of the global textile and apparel industry.
Farm Credit Issues Report On Current Ag Economy, Condition Of Its System
McLEAN, Va., — At its monthly meeting today, the Farm Credit Administration board received a quarterly report (PDF) on economic issues affecting agriculture, together with an update on the financial condition and performance of the Farm Credit System (System) as of Dec. 31, 2022. Inflation continues to be a core economic issue despite recent declines. Inflation has been driven in part by the tightness in the labor market, and rising production costs and consumer demand.
New WOTUS Rule on Hold for More Than Half of U.S.
ARLINGTON, VA – On Wednesday, April 12, a federal judge in North Dakota granted a motion for a preliminary injunction in 24 states for the final federal rule revising the definition of “waters of the United States” (WOTUS) under the Clean Water Act. The rule had previously gone into effect on March 20, 2023.
What We Now Know About What Caused the Large Fire at a Texas Dairy Farm
The Texas Fire Marshal is investigating what caused the large fire that broke out at South Fork Dairy in Dimmitt, Texas, earlier this week. However, industry and dairy experts say current information from officials show it was an accident. The reported explosion occurred at South Fork Dairy, which is located just southeast of Dimmitt. According to Castro County Sheriff Sal Rivera, the explosion occurred around 7:20 p.m. on Monday.
What’s Wrong with the Current Waters of the U.S. Rule?
The latest Waters of the U.S. (WOTUS) definition—put into motion by the Biden administration on March 20—was met with a wave of backlash from the ag industry for its “overreaching” jurisdiction. That opposition was validated on Wednesday when a U.S. District Court Judge, Daniel Hovland, granted an injunction that blocks enforcement of the WOTUS rule in 24 states.
U.S., Five Other Ag Exporting Countries Say India Is Vastly Underreporting Its Wheat, Rice Subsidies
The United States and five other ag-exporting nations have accused India of “vastly” underreporting the amount of subsidies that it provides for wheat and rice producers, fueling calls for the Biden administration to take the next step of filing a formal World Trade Organization case, our Doug Palmer writes for MA. India is required under World Trade Organization rules to cap its agricultural subsidies at 10 percent of the total value of crop production.
Ag Credit Tightens with Rising Interest Rates and Following Bank Collapses
Farmers are managing through higher interest rates as they move into the spring planting season. However, the price to borrow money for rent or inputs to plant the new crop will cost farmers more this year. Nathan Kaufmann with the Federal Reserve Bank out of Kansas City saying very few new loans have a rate of less than 6% as you can see on this graphic.
Ideas Big and Small: Create a Culture of Creativity on Your Farm
We all know one of the most dangerous phrases in business is: We’ve always done it this way. So, how can you boost creativity and new ideas on your farm? Start by focusing on why creativity is important, says Mary Kelly, CEO of Productive Leaders. “The benefits of doing new things far outweigh any risks you may think there are to go outside your routine,” she says. “Plus, it’s fun. Life is about doing new things.” Why is this culture of creativity important?
Dust Bowl 2.0? How the Drought is Washing Out Hopes of Texas Cotton Production This Year
Drought continues to tighten its grip across the Plains, and it’s forcing farmers in west Texas to make some very difficult decisions this growing season. Depleted soils, along with bleak forecasts showing little chances for rain anytime soon, is a tough reality for farmers who struggled through a drought ravaged crop season in 2022. It’s hard to forget the scenes from February. A dust storm tore through the southern plains, unlike anything most area farmers had ever seen.
India’s Rice Subsidies Under Fire at WTO by U.S., Thailand, and Others
GENEVA, SWITZERLAND – This week, the Office of the U.S. Trade Representative (USTR) filed its second “counter notification” on India’s rice and wheat subsidies to the World Trade Organization’s (WTO) Committee on Agriculture. itp-map-of-india-230406 image Called out The counter notification details the flaws in India’s notification methodology, which obscures the true level of subsidies it provides.
After “Price Shocks,” Grain Prices Fall Back to Pre-War Levels, Food Inflation Concerns Persist
In its April Market Monitor report, the Agricultural Market Information System (AMIS) indicated that, “Over the past 10 months, world prices of most grains and oilseeds have fallen back to levels prior to the war in Ukraine. Likewise, volatility in prices has also declined considerably from recent highs. With the extension of the Black Sea Grain Initiative, there is hope that the world is recovering from the price shocks of the past year.
9 Charts to Analyze from the 2023 FAPRI Baseline
This year looks to be a transitional one. “What goes up, generally comes back down in agricultural markets,” shares FAPRI-MU director Pat Westhoff. “Projected prices for most crops, poultry and dairy products all retreat in 2023 from recent peaks, and so do some production expenses.” If weather conditions allow crop yields to return to trend-line levels in 2023, prices for corn, soybeans, wheat, cotton and many other crops are likely to fall.
“Big Shift in American Farm Policy” - Farming as a Low-Carbon Energy Producer
Keith Schneider reported in today’s New York Times that, “Despite federal and state programs to convert corn into ethanol and soybeans into biodiesel to fuel cars and trucks, the United States has never before regarded farming as a primary energy producer.
Weekly National Posted Prices for Peanuts
Photo: Nick McMichen The following prices are effective from Wednesday 04/05/2023 at 12:01 am Eastern Time until midnight Tuesday 04/11/2023. The next announcement is scheduled for Tuesday 04/11/2023 at 3:00 pm Eastern Time. $424.68 per ton for Runner peanuts $413.41 per ton for Spanish peanuts $428.31 per ton for Valencia peanuts $428.31 per ton for Virginia peanuts These NPP are based on the loan rates for 2022-crop peanuts announced on July 6, 2022.
Farmland Partners Sells 862-Acre Arkansas Farm
DENVER–(BUSINESS WIRE)– Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) today announced that it sold 862 acres of farmland in White County, Arkansas, for $3.7 million – an approximate gain of 24% over net book value. “The farmland real estate sector is still open for business. We continue to hunt for prime land to acquire, and we are always willing to entertain strong offers for existing properties in our portfolio,” explained Luca Fabbri, FPI’s President and CEO.
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