Monday, April 1, 2024

Members in the News: April 1, 2024

Bruce Sherrick, University of Illinois at Urbana-Champaign

Investors See Big Returns on Farmland — Are They Pricing Out Farmers?

By: News Nation – March 15, 2024

“Institutional investors have become more visible in recent years but pushed back against the idea that they’re buying up significantly more farmland and driving up prices. The majority of purchases are still by neighbors. Because the supply of land is limited, those neighbors are also more likely to overpay when a nearby property becomes available.”

Read more on: News Nation

Karen Maguire, USDA - Economic Research Service
Wilma Davis,
USDA - Economic Research Service
Megan Husby,
USDA - Economic Research Service
Catharine Weber,
USDA - Economic Research Service
John Bovay,
Virginia Tech
Yoonjung Lee,
Virginia Tech

Food Production Using Controlled Environment Agriculture and Agrivoltaics Systems Could Become the New Normal

By: – March 25, 2024

"These industries have experienced tremendous growth over the last couple of decades, but official data collected and published by the USDA may not fully reflect the current technological and market situation. If controlled environment agriculture and indoor farming were to take off in the next decade, this could transform the consumer experience and possibly change the economic reality for traditional, soil-based farmers who grow crops that can also be grown in controlled environments and without soil."

Read more on: or

Rabail Chandio, Iowa State University

SOLD! 230-Acre Iowa Century Farm Brings Nearly $4 Million At Auction

By: Successful Farming – March 26, 2024

“I would say the land sale did not indicate any unusual demand and sold for pretty much a normal price for the region and reflects the current market assessment of the ag experts whose opinions are presented in the ISU Land Value Survey. If people expect land values to increase like they did a couple of years ago, they would be willing to pay quite high prices. If the crowd feels the land market is going to maintain its slow pace, they will react accordingly in their biddings.”

Read more on: Successful Farming

Carl Zulauf, The Ohio State University
Joana Colussi,
University of Illinois at Urbana-Champaign
Nick Paulson,
University of Illinois at Urbana-Champaign
Gary Schnitkey,
University of Illinois at Urbana-Champaign

Ag Economists Release Report Showing Crop Yield Growth By Global Regions

By: Agri Marketing – March 27, 2024

“Yield growth is critical to increasing crop output in the United States. US harvested land has been stable during the 21st Century and thus has not contributed to increasing US crop output. This study finds US yield growth varies by measure, crop, and comparative benchmark. Combined feed grain, food grain, and oilseed yield increased more for the US than any world region when measured in physical output units, but was in the middle when measured as percent increase. The US has a yield growth advantage in some crops, notably peanuts and soybeans; but for most crops lags the rest of the world, especially in percent increase.”

Read more on: Agri Marketing

Ani Katchova, The Ohio State University
Xiaoyi Fang,
The Ohio State University
Rae Ju,
The Ohio State University

Trends Show More Agricultural Land Lost to Development

By: Ohio Country Journal – March 26, 2024

“The new 2022 Census of Agriculture data shows the number of farms in Ohio declined by 2.3% and in land in farms declined by 6.4% between 2002 and 2022. One number that is concerning to agricultural stakeholders in Ohio is the loss of 931,089 acres in land in farms in Ohio in the last 20 years. The question is how much of the agricultural land in Ohio was lost to development?”

Read more on: Ohio Country Journal

Amit Batabyal, Rochester Institute of Technology

Why Does it Cost So Much to Check Baggage on Airlines?

By: Rochester Business Journal – March 4, 2024

“There used to be a time, in the not-so-distant past, when it was possible to check at least one piece of baggage at no cost on most airlines. Those days are now gone and cost-efficient airline travel today requires some planning. One reason why this is the case is the matter of baggage, particularly checked baggage.”

Read more on: Rochester Business Journal

Hannah Hawkins, Texas A&M University
Shawn Arita,
USDA-Office of the Chief Economist
Seth Meyer,
USDA- Economic Research Service
Daniel Sumner,
University of California, Davis

Pork Prices May Reflect Uncertainty Around Prop 12

By: Farm Progress – March 28, 2024

“Since being passed by California voters in 2018, Proposition 12, a farm animal welfare law, has faced a series of legal challenges that have led to uncertainty and delays in the implementation and enforcement of its requirements for the treatment of breeding pigs. A new Special Issue of ARE Update sheds light on its contentious path to eventual full implementation on Jan. 1, 2024, and analyzes how these delays have affected the retail and wholesale pork market.”

Read more on: Farm Progress

Joseph Balagtas, Purdue University

Why Are Food Prices So High Despite Inflation falling?

By: Fox 13 – March 29, 2024

“While food price inflation over the last year officially is 2.1%, respondents in our survey tell us it is much higher. They tell us food prices have risen by 6% in the past year. Official measures of inflation are either month to month or year over year. Consumers might not necessarily think in terms of years, but, they might think of prices today relative to some period in the past, maybe before the pandemic.”

Read more on: Fox 13

Jayson Beckman, USDA-Economic Research Service
Maros Ivanic,
USDA-Economic Research Service
Noé Nava,
USDA-Economic Research Service

USDA Models Climate Impact on Corn, Soy

By: World Grain – March 28, 2024

“Climate change would dramatically slow yield growth for corn and trim yields for soybeans in coming years, affecting planting decisions and exports, according to a recent study conducted by the Economic Research Service (ERS) of the US Department of Agriculture (USDA). The study modeled how climate-linked changes in temperatures and precipitation might affect future US corn and soybean yields and what that would mean for markets and trade through the middle of the next decade.”

Read more on: World Grain

Dawn Thilmany McFadden, Colorado State University

From Free-For-All to Business As Usual: How Marijuana Sales Have Evolved

By: 420 Intel – March 28, 2024

”Prices also went up as much as 50%, so, the increased revenue may not be solely due to increased use. When cannabis was first legalized, the price of buds was nearly $2,000. That dropped to about $750 pre-COVID, then rose again before dropping in the middle of 2022.”

Read more on: 420 Intel

Molly Sears, Michigan State University

Michigan Specialty Crop ratings Slide

By: Bownfield - March 28, 2024

“We’re not seeing an overall change in Michigan’s rankings, but asparagus production in general is struggling a little bit. We can see a decline in asparagus acres.”

Read more on: Bownfield

Alicia Rihn , University of Tennessee

New UT Extension Program to Equip Cut Flower Farmers in Tenn

By: Morning Ag Clips -  March 28, 2024

“Extension specialists from the University of Tennessee Department of Plant Sciences and Department of Agricultural and Resource Economics are helping cut flower farmers in Tennessee make informed decisions about production and marketing. The project will include production and cultivar trials, as well as producer and consumer perspective surveys to provide new and regionally specific research.”

Read more on: Morning Ag Clips


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