Osborn rises in Nebraska: Although Sen. Deb Fischer, a Republican member of the Senate Agriculture Committee, has a “very good” chance of winning re-election, independent Dan Osborn is polling strongly enough that the rating for the race has shifted from “safe Republican” to “likely Republican.” (Sabato’s Crystal Ball)
Grocery inflation rate drops: Aided by a decline in fruit and vegetable prices, the grocery inflation rate is forecast to be a tiny 0.8 percent in 2025, which would be the smallest increase since 0.4 percent in 2018 and a dramatic turnaround from rises of 11.4 percent in 2022 and 5 percent in 2023. (USDA)
Congress passes funding bill: On bipartisan votes of 341-82 in the House and 78-18 in the Senate, lawmakers passed a bill Wednesday to fund the government, including the USDA, for three months. Republicans cast all the dissenting votes in both chambers. (CBS News)
Production costs down: Thanks to lower fuel and fertilizer prices, corn and soybean production costs in the Midwest will decline in the new year, though when land expenses are included, they will still exceed farmers’ returns. (farmdoc daily)