Monday, March 20, 2023

Members in the News: March 20, 2023

*Disclaimer - This email is to acknowledge citations of current AAEA members and/or their research in any public media channel. AAEA does not agree nor disagree with the views or attitudes of cited outside publications.

James Mintert, Purdue University

"Agricultural Loan Delinquency Rates Fall Further Below 1%, Lowest In Decade-Plus"

By: S&P global – March 16, 2023

“In a release that the improved sentiment was due to a better feeling about financial conditions as farmers estimated their 2022 income following the autumn harvest.”

Read More On: S&P Global

David Ortega, Michigan State University

"While The Costs of Some Things Are Coming Down, a Lot of Other Prices Are Climbing"

By: NPR – March 14, 2023

 “We're seeing some improvements in the forces that are leading to price increases, but there's still a ways to go before we start to see substantial relief at the grocery store.”

Read More On: NPR

Danielle Resnick, International Food Policy Research Institute
Rob Vos,
International Food Policy Research Institute
Will Martin,
International Food Policy Research Institute

"The Political Economy of Reforming Costly Agricultural Policies"

By: Brookings – March 10, 2023

“Agricultural support policies provide over $800 billion per year in transfers worldwide. Such policies encompass a broad range of government instruments to support the agriculture sector, which are typically funded from taxpayers and consumers. These include “coupled” subsidies intended to incentivize producers to expand output, “decoupled subsidies” that avoid shifting production incentives, and market-price support measures such as tariff and non-tariff barriers. Many of these policies have facilitated hunger and poverty reduction, but they also have fostered agricultural production systems that threaten environmental sustainability through increased greenhouse gas emission and land use expansion.”

Read More On: Brookings

Simon Somogyi, University of Guelph

"Tips to Ride Out Supply Chain Disruptions and Rising Costs"

By: FFC - March 15, 2023

"The war between Russia and Ukraine is the biggest cause of rising costs. The Ukraine conflict has had a profound impact on the cost of goods with skyrocketing grain and fertilizer prices impacting the production costs in almost all areas of food production - meats, produce, dairy and eggs. Having numerous suppliers for goods, particularly raw materials, is so important. This way, when one supplier shuts down for the ingredient you need or the logistics make it slower to get the ingredient into the processor, you have alternatives."

Read More On: FFC

Zach Rutledge, Michigan State University

"USDA Session Tackles H-2A, Labor Shortages"

By: Vegetable Growers News – March 9, 2023

“Half of growers face labor shortage problems. Growers reporting labor needs state the average shortage is 20% of the workers they would normally have hired. COVID-19 accelerated existing shortages and forced growers to adjust, by raising wages, providing incentives such as scheduling flexibility, offering health insurance benefits and production bonuses for employee retention and turning to farm labor contractors.”

Read More on:
Vegetable Growers News

Jonathan Coppess, University of Illinois at Urbana-Champaign

"Midwest farmers tripled use of cover crops, but it's still just a small fraction of acres"

By: Earth Eats - March 1, 2023

“It is certainly not at a level that would be necessary for some of the challenges, like the water quality challenges like soil erosion. It's going to take a lot more acres to get there. Cover crops also received a temporary boost, thanks to COVID-19 relief money. The Biden administration spent $60 million on subsidies for more than 12 million acres of cover crops during the 2020-2021 growing seasons.”

Read More On: Earth Eats, WSIU, KLNE-FM, Spot On Illinois, Iowa Public Radio

William Ridley, University of Illinois at Urbana-Champaign

"U.S. Cotton Exports Shift Due to Competition, Trade Policy"

By: Herald-Whig – March 4, 2023

“As recently as the early 2000s, Brazil was only a minor player in the cotton market, and now they’re the second largest exporter in the world. Brazil’s cotton production is more than it used to be, with a large expansion in land area devoted to cotton. It is also a trend more broadly with Brazil’s agricultural sectors. They’ve become much more trade-oriented. Almost overnight, they became a major player in the cotton sector.”

Read More on: Heral-Whig

Bruce Sherrick, University of Illinois at Urbana-Champaign

·       "Land Prices Remain Strong"
By: Farm Week – March 2, 2023

·       "Adopting More Soil Conserving Practices Can Reduce Crop Insurance Costs
By: Ag web – March 13, 2023

·       "Buying of Transferring a Farm Getting More Expensive"
By: Farm Week Now - March 13, 2023

Maria Kalaitzandonakes, University of Illinois at Urbana-Champaign
Jonathan Coppess,
University of Illinois at Urbana-Champaign

"Food prices will rise again in 2023, putting more pressure on families"

By: KOSU-FM – March 10, 2023

“None of these are particularly easy or straightforward things, they all affect your daily life and choices. People are actively changing their behavior and switching away from important foods.”

“We hear these huge numbers of $1.2 trillion going toward food assistance, and we lose a more important part of the policy. We overlook some of the tough decisions of choosing between paying a bill, putting gas in the car or eating. And that’s where people are skipping meals.”

Read More On: KOSU-FM

Gary Schnitkey, University of Illinois at Urbana-Champaign
Nick Paulson,
University of Illinois at Urbana-Champaign

"Fertilizer Prices Have Come Down From Record Highs"

By: The Farmers Exchange – March 10, 2023

“Fertilizer prices have been on a declining trend in recent months. Declines in natural gas and corn prices likely have led to nitrogen fertilizer price declines. Moreover, stability in fertilizer markets may have been achieved as the Ukraine-Russia war continues. However, any further disruptions within the market, from escalating global tensions to supply chain disruptions, could lead to fertilizer price increases. Recent profit announcements indicate that fertilizer companies had a good profit year in 2022.”

Read More On: The Farmers Exchange

Bruce Sherrick, University of Illinois at Urbana-Champaign
Gary Schnitkey,
University of Illinois at Urbana-Champaign

"Farm Values Conference Set For March 23"

By: Morton Courier – March 8, 2023

“They will look more closely at influences on land sales, outside influences on prices being paid, who’s buying and selling, and what to look for in terms of ‘crystal balling’ the future of land values and lease/rent rates.”

Read More On: Morton Courier

Clayton Michaud, USDA Economic Research Service

"Foreign Ownership of US Farmland on the Rise"

By: Lancaster Farming – February 24, 2023

“Foreign entities own approximately 40 million acres, which accounts for 3% of all privately held agricultural land in the U.S. The majority of that land is forest — particularly purchases in Maine by Canada — but cropland is becoming a more popular commodity for foreign investors.”

Read More On: Lancaster Farming

Joana Colussi, University of Illinois at Urbana-Champaign

"Prairie Profile: Joana Colussi"

By: Farm Progress - March 16, 2023

“It’s important for Americans to understand that everything that happens in Brazil and Argentina will directly impact the American market because today’s agriculture is a very global industry, we have to closely watch South American weather patterns and production.”

Read More On: Farm Progress

Roderick Rejesus, North Carolina State University
Sunjae Won,
Auburn University
Barry K. Goodwin,
North Carolina State University
Serkan Aglasan,
Mehmet Akif Ersoy University

"Adopting More Soil Conserving Practices Can Reduce Crop Insurance Costs"

By: Ag Web – March 13, 2023

“Advocates of conservation agriculture have long insisted that farmers who adopt use of practices such as cover cropping and no till or reduced till cultivation can improve the water-holding capacity of their topsoil by adding organic matter, which helps to make their crops more resilient in the face of extreme weather events.  This attribute can not only benefit individual farmers by reducing their yield variability on a year-by-year basis, it can benefit society and taxpayers by reducing the need to make indemnity payments to U.S. farmers who participate in the federal crop insurance program.”

Read More On: Ag Web

Scott Irwin, University of Illinois at Urbana-Champaign

"What Will 2023’s Diesel Production Capacity Look Like?"

By: RFD-TV - March 15, 2023

"Renewable diesel production is soaring, driven largely by federal and state policies. Many are now speculating over projected production capacity for the years ahead. Dr. Scott Irwin with the University of Illinois spoke with RFD-TV’s own Tammi Arender on last year’s highlights, contributing factors, and what to expect this year. (Speaks at time stamp 0:10)"

Read More On: RFD-TV

Wendong Zhang, Cornell University

"How Might Rising Interest Rates Impact Iowa Farmland Values?"

By: The Gazette – March 16, 2023

“A simple way to calculate land value is to divide net income by interest rate. This year’s farm income still is strong compared to, for example, 2019 levels. But it’s trending down as COVID-19 assistance programs are being phased out. The U.S. Department of Agriculture forecasts net farm income to decrease by about 16 percent from 2022 to 2023.”

Read More On: The Gazette

Maria Gerveni, University of Illinois at Urbana-Champaign
Scott Irwin,
University of Illinois at Urbana-Champaign

"Updated Overview of the Production Capacity of U.S. Renewable Diesel Plants"

By: Agri Marketing – March 13, 2023

“The two main types of biomass-based diesel fuels used to comply with the U.S. Renewable Fuel (RFS) mandates are "FAME biodiesel" and "renewable diesel." Although FAME biodiesel and renewable diesel are produced with the same organic oil and fats feedstocks, their production process differs substantially, resulting in the creation of two fundamentally different fuels.”

Read More On: Ag Marketing

Joe Janzen, University of Illinois at Urbana-Champaign

"WASDE Recap: Lower US Corn Export Prospects, But Are They Low Enough?"

By: – March 14, 2023

“The WASDE report contained significant downward adjustments to projected corn and soybean production in Argentina, but these changes were to some degree anticipated by the market. Bullish news about lower South American production may have boosted US soybean export prospects slightly but was insufficient to support to US corn exports.”

Read More On:

Maria Kalaitzandonakes, University of Illinois at Urbana-Champaign
Jonathan Coppess,
University of Illinois at Urbana-Champaign

"Promoting Sustainable Agricultural Production in the Next Farm Bill: Is There Any Common Ground?"

By: Ag Fax – March 14, 2023

“This week, farmers, agriculture groups, and climate advocates have been demonstrating in Washington D.C. requesting that Congress do more to address climate change in the next farm bill. The event, Farmers for Climate Change Action: Rally for Resilience, called for resources, assistance, and incentives to encourage farmers to address climate change. This demonstration is a part of a much larger conversation about climate change and agriculture – and how to induce farmers to adopt sustainable practices.”

Read More On: Ag Fax

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