Big crops and lower prices for U.S. farmers in 2024
American farmers will harvest monster corn and soybean crops this year, including the largest soybean crop ever, at 4.5 billion bushels, and the third corn crop in four years to top 15 billion bushels, projected the Agriculture Department on Thursday. Season-average prices for the crops would fall for the second year in a row from the spike in commodity markets created by Russia’s invasion of Ukraine in 2022.
SNAP is a bulwark for low-wage workers, says Vilsack
Agriculture Secretary Tom Vilsack bristled at the “notion of picking on SNAP” when millions of Americans are locked into low-wage jobs and need help buying food. “We never have that conversation,” he said on Thursday. Cuts to food stamps have become a frequent suggestion by conservative Republicans in Congress in debates over the farm bill or raising the debt ceiling.
A salad, a glass of wine, a bit of time and U.S. will be a food importer
The American preference for fresh foods year-round, often washed down with a glass of wine—or something stronger—will drive a $100 billion increase in food and ag imports in the years ahead, according to the Agriculture Department. It would turn the United States into a net importer of food in the long term and question the proud sentiment in farm country that America feeds the world.
Record corn and soybean crops possible as farmers chase high prices
Responding to strong exports and expectations of a U.S. economic recovery, farmers will plant 92 million acres of corn and 90 million acres of soybeans this spring, pointing to a record soybean crop and possibly the largest corn harvest ever, said the USDA on Thursday. Chief economist Seth Meyer also said farm exports would be a record $157 billion this year, including the largest-ever exports to China of $31.5 billion.