U.S. farm exports are forecast by the USDA to hit a record $157 billion this year, aided by a weaker dollar against many foreign currencies. Agricultural lender CoBank says the impact will be somewhat uneven, with meat and dairy products benefiting the most.
The farm economy, battered since 2018 by a trade war and a pandemic, is rallying, though it is too early to declare a return to prosperity, said the president of the largest U.S. farm organization on Thursday, reserving judgment on whether more stopgap federal aid will be needed.
U.S. farmers are harvesting crops for the second year in a row under the shadow of hefty tariffs, says agricultural lender CoBank, pointing to uncertainty over trade policy, late-maturing crops and African swine fever. “It is also increasingly unlikely that the United States-Mexico-Canada …
California growers will idle less land than previously due to drought but losses will be around $1 billion to $1.5 billion, compared to an estimated $1.8 billion in 2015, says agricultural lender CoBank. Losses would fall heaviest on farmers with corn, wheat, cotton, alfalfa and pasture land.
The first round of funding for rural infrastructure projects was released by the year-old U.S. Rural Infrastructure Opportunity Fund that mixes public and private capital, said the USDA.