Rural Mainstreet Economy Faces Continued Downturn
Despite another one-year extension of the farm bill, and $20.8 billion in farm disaster relief, the farm (grain) economic outlook remained weak for the first half of 2025.
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Ag
Farmer Sentiment Drifted Lower in December
Farmer sentiment drifted lower in December as the Purdue University-CME Group Ag Economy Barometer fell 9 points to 136. Although the barometer weakened somewhat in December compared to November, producers still retained much of their post-election optimism about the future.
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Farmer Sentiment Reaches May 2021 High After U.S. Election
Farmer sentiment jumped again in November as the Purdue University-CME Group Ag Economy Barometer climbed 30 points to 145. Both the Current Conditions and Future Expectations indices increased in November, with the biggest improvement taking place in future expectations.
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Rural Mainstreet Economy Soars to Highest Level in 15 Months
For the first time since July 2023, the overall Rural Mainstreet Index (RMI) rose above growth neutral, according to the November survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.
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Congress Eyes One-Year Farm Bill Extension with Disaster Relief
As Congress enters the post-election, lame duck session, it is becoming increasingly clear that a one-year extension of the 2018 Farm Bill is likely.
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Farmer Sentiment Rebounds in October as Outlook Brightens
October provided a surprising pre-election bounce in farmer sentiment as the Purdue University-CME Group Ag Economy Barometer index climbed to 115, 27 points higher than in September.
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Farm Bill Stalled: Decision Pushed Beyond Election Day
The latest deadline for the farm bill passed unceremoniously at midnight on Sept. 30, without a push from lawmakers to pass a new farm bill or an extension.
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Hurricane Helene Causes Billions in Ag Damage
Hurricane Helene has caused significant agricultural and property damage across the southern U.S., halting chicken processing plants, damaging flocks, and devastating pecan trees and cotton crops.
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Farmer Sentiment Reaches Lowest Levels Since 2016
The Purdue University/CME Group Ag Economy Barometer recorded its lowest readings since March 2016 in September.
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Rural Mainstreet Economy Falls to Early Pandemic Low
The Rural Mainstreet Index plummeted to its lowest level since the beginning of the pandemic and fell below growth neutral for the 13th straight month.
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Farmer Sentiment Plummets in August as Crop Prices Decline
In a sharp turnaround from July, farmer sentiment nose-dived in August. The August Purdue University-CME Group Ag Economy Barometer fell 13 points. Weakening farm income prospects weighed on farmer sentiment as the outlook for a bountiful fall harvest were more than offset by declining crop prices.
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Safety Net Issues Stall Farm Bill
A Senate Appropriates Committee met to discuss the passage of the Farm Bill and the importance in providing a safety net for farmers through reference prices.
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Farm Bill Prospects Nearly Nonexistent This Year
The already-slim chances of Farm Bill reauthorization in 2024 are waning in the summer heat, facing a legislative calendar almost out of days.
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Rural Mainstreet Economy Down Again for July
For an 11th straight month, the overall Rural Mainstreet Index (RMI) sank below growth neutral, according to the July survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.
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Farmer Sentiment Lowers Amidst Weaker Future Expectations
Farmer sentiment drifted lower in June as the Purdue University-CME Group Ag Economy Barometer reading of 105 was three points lower than a month earlier.
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Farmers Want Climate-Smart Ag Protection in Farm Bill
A new Farm Journal poll conducted on behalf of Invest in Our Land across 10 leading agricultural states shows that American farmers and ranchers overwhelmingly believe conservation funding has an important role to play in building their operations’ resilience to increasingly extreme weather and addressing the effects of climate change.
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U.S. Farmers Hold onto Unsold Corn Amid Slumping Prices
After stockpiling crops for much of this season due to low prices, many farmers in the world’s largest corn-producing nation continue to shun buyers despite few signs that prices will improve.
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Texas Faces Extreme Drought Amid Corn Growing Season
As of June 9, nearly all corn in the top 18 corn-growing states has emerged, with minimal drought conditions affecting most states. Texas is the sole state experiencing extreme drought.
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Report Shows 75% of Corn Crop in Good/Excellent Condition
USDA released its 10th Crop Progress report of the 2024 growing season on June 3. Here’s a look at the most recent corn, soy, wheat, and oat numbers.
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Ag Retailers Are Optimistic for 2024 Growing Season
Fifty-three percent of the nation’s top ag retailers said the 2024 growing season rates between a five and seven on their 10-point scale.
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USDA Crop Progress Report
U.S. corn and soybean planting both remain ahead of average. That’s despite last week’s heavy rainfall in some areas, including flooding, severe storms, and the loss of human life, with most forecasts showing a good near-term planting window for much of the region this week.
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House Ag Committee Completes Farm Bill Markup
The U.S. House of Representatives Committee on Agriculture completed its markup of the Farm, Food, and National Security Act of 2024 (Farm Bill) on May 24, 2024, passing the proposed legislation 33-21
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Farmer Sentiment Recovers in May
Farmer sentiment recovered somewhat in May following a sharp drop-off in April. The May reading of the Purdue University-CME Group Ag Economy Barometer came in at 108, up 9 points compared to April.
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Farm bill Advances from U.S. House Panel
Republicans moved their long-awaited new farm bill through the U.S. House Agriculture Committee last week, despite opposition from most Democrats.
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House Unveils $1.5 Trillion Farm Bill Draft
The U.S. House Agriculture Committee Friday released the draft bill text of the long-awaited $1.5 trillion farm bill, which is likely to face opposition in the Senate from Democrats due to disagreements over federal anti-hunger programs and climate change requirements.
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Planting Progress Leaps Forward, But Behind Average
The USDA released its eighth Crop Progress Report of the 2024 growing season. Here’s a look at the most recent corn, soy, wheat, and oat numbers.
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Farm Grants for Females, Minorities and First Time Farmers
Farm grants are available for female farmers needing help managing their crops and livestock, buying new equipment, seed/fertilizer, or building
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Farmer Sentiment Reaches Lowest Point Since June 2022
Farmer sentiment declined sharply in April, as indicated by the Purdue University/CME Group Ag Economy Barometer, which fell 15 points from March to a reading of 99.
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Aviation Fuel Tax Credits Give Agriculture a Lift
The Treasury Department will allow U.S.-made ethanol and other biofuels to qualify for a sustainable aviation fuel tax credit under the Inflation Reduction Act.
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U.S. Soybean Share in China to Fall as Argentina Gains Ground
U.S. soybean exports to China are set to decline further in 2024 as Argentina and Brazil increase their share in the world’s largest soybean market.
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House Pushes Ahead on Farm Bill
House Ag Chair Thompson is ramping up to release the House farm bill draft ahead of the planned May 23 markup.
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Rural Mainstreet Economy in Negative Territory Again
For an eighth straight month, the overall Rural Mainstreet Index (RMI) sank below growth neutral, according to the April survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.
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Farmer Optimism Rises Amid Shifting Interest Rate Forecasts
Farmer sentiment improved modestly in March with the rise primarily attributable to producers expecting financial conditions on their farms to improve in the year ahead. The improvement in farmers’ financial outlook was buttressed by an improved interest outlook with nearly half of this month’s respondents saying they expect interest rates to decline over the next 12 months.
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Worst Corn Growing Conditions by State
Here’s a look at drought conditions across the top 18 corn growing states as of the end of February 2024.
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U.S. Lost 142,000 Farms According to Ag Census
U.S. farmland declined by nearly 20 million acres between 2017 and 2022. As of 2022, there were 880.1 million acres of land dedicated to farming, compared to 900.1 million in 2017.
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U.S. – Mexico GM Corn Dispute to be Resolved This Year
The U.S. trade dispute with Mexico over genetically modified corn is expected to be resolved by the end of this year.
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Record Drop in Farm Income Expected in 2024
Farmers can expect the largest recorded year-to-year dollar drop in net farm income in 2024.
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Rural Mainstreet Economy Is Negative For Sixth Straight Month
For a sixth straight month, the overall Rural Mainstreet Index (RMI) sank below growth neutral, according to the February survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.
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NASDA Establishes Federal Policy Priorities for 2024
The National Association of State Departments of Agriculture has chosen five issues to serve as the organization’s primary policy focus for 2024. They include the 2024 Farm Bill, food safety, labor reform, pesticide regulation and PFAS.
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Farmer Sentiment Improves, Amidst Stronger Financial Condition
For the second month in a row, farmer sentiment improved as the Purdue University-CME Group Ag Economy Barometer climbed five points to reach an index value of 115 which left the index 12 percent higher than a year earlier
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Agriculture Leaders Agree to One-Year Farm Bill Extension
Agricultural leaders in Congress have negotiated a one-year farm bill extension to be included in a proposed measure to keep the government running.
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High Interest Rates Discourage Farm Loans
Ag bankers say farmers are tapping their savings from recent boom years instead of borrowing money at what are the highest interest rates since 2007.
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Rural Mainstreet Economy Slumps to 2023 Low
For a second straight month, the overall Rural Mainstreet Index (RMI) sank below growth neutral. This month’s reading is the most negative outlook recorded since May 2020.
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Deere Partners with DeLaval for Sustainable Milk Production
John Deere and DeLaval, a producer of dairy and farming machinery, have joined efforts to create the Milk Sustainability Center
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Low Water Levels May Plague Ag This Fall and Winter
From the Mississippi River to the Panama Canal, this year’s drought has resulted in low water levels that are likely to disrupt ag production and trade.
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NPPC Leader Not Betting the Farm on Prop 12
The president of the National Pork Producers Council said on Tuesday he won’t convert his Missouri hog farm to satisfy the California rules.
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New Law Incentivizes Selling Land to New Farmers
To recruit new generations to the agriculture industry, Missouri state lawmakers passed a bill to incentivize selling land to beginning farmers.
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Disappointment with EPA’s Latest WOTUS Rule
A number of agricultural groups have expressed significant disappointment in the revised Waters of the U.S. rule released by the U.S. Environmental Protection Agency.
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Rural Energy Program Awards $266 Million to 47 States
Agriculture Secretary Tom Vilsack announced USDA is awarding $266 million in loans and grants for agriculture producers and rural small businesses.
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Farmer Sentiment Weakens in August
U.S. farmers’ sentiment weakened in August compared to July as the Purdue University-CME Group Ag Economy Barometer dipped 8 points to a reading of 115.
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