Agriculture

Ag lenders are encouraging farmers to review their risk management strategies as the Fed increases interest rates. Glen Semple, Vice President of Commercial Lending with Farm Credit Illinois tells Brownfield the Federal Open Market Committee met earlier this month. “They raised interest rates by 25 basis points, which is one-quarter of 1%. That is the first Fed rate increase since 2018.” And he says market expectations are for at least […]

The USDA says the conflict in Ukraine and rising interest rates have caused all food price categories in the latest Consumer Price Index to increase. The Economic Research Service says food prices in February were up one percent from January and nearly eight percent from last year. Food-at-home saw a larger increase in prices than away-from-home. Low stocks of frozen chicken are causing consumers to see large increases in poultry […]

A global economist says as a pair of Eastern European Seaports remain closed, and the U.S. will likely need to find other sources to import fertilizer.   Sam Taylor with RaboBank tells Brownfield Nigeria and Iran are two options. “There is also that kind of question that surrounds the Iranian embargo. They are significant urea producers.  I think in the last couple of years they have been running significantly below […]

Nestle’s sustainable sourcing lead says the company is working directly with farmers to cut emissions. Daniel Peerless tells Brownfield it’s currently enlisting its suppliers to find ways the company can invest in hard infrastructure efforts to reduce their footprint and he encourages farmers to reach out on partnering opportunities. “Eventually all or most products will be judged by their footprints so we’re kickstarting some of this progress right now by […]

May corn closed at $7.48 and 1/2, down 5 and 1/2 centsMay soybeans closed at $16.64 and 1/4, down 46 centsMay soybean meal closed at $478.90, down $9.00May soybean oil closed at $72.45, down 230 pointsMay wheat closed at $10.57, down 45 and 1/4 centsApr. live cattle closed at $140.30, down 17 centsApr. lean hogs closed at $107.57, up 10 centsApr. ...

The start of planting season is rapidly approaching, and an Iowa-based agronomist says field conditions in his coverage area look good. Channel’s Jeremy Miner says fields are actually a little ahead of where there were last year at this time.  “We may be a little bit behind as far as guys being able to get into the field,” he says.  “But we’re definitely accepting the moisture in what’s coming now.” […]

A leader with Corn Refiners Association says the agriculture industry is facing unprecedented challenges with continued disruption of the global supply chain. John Bode says he’s hopeful the administration will continue to address supply chain challenges exposed by the pandemic and further exacerbated by Russia’s invasion of Ukraine. “We need to have a bold new approach to new free trade agreements that are tariff-reducing so that we have the flexibility […]

Growers in the country’s largest turkey-producing state are on high alert after the detection of avian influenza in three Minnesota counties. Speaking to Brownfield last week during the Midwest Poultry Federation Convention, Hannah Halldorson with the Minnesota Turkey Growers Association stressed biosecurity. “It’s a constant conversation, but we’re really working hard to make sure that our growers understand what the signs (of) high-path avian influenza are. And then also just […]

The soil moisture outlook is improving for a farmer in southwest Iowa. Ralph Lents of Greenfield says it had been very dry going into March. “But in our part of the state we’re starting to pick up some rain, some snow. Our tile lines are starting to run, so it looks better.” The corn and soybean grower says now it just needs to warm up. “This thing is ready to […]