Food, feed and industrial demand boost grain usage to a record high
World consumption of grain will exceed 2.1 billion tonnes during 2017/18, a record due to "new peaks for food, feed and industrial uses," according to estimates by the London-based International Grains Council. "Food demand is expected to continue to drive increases for wheat while growth for feed and industrial use will push maize (corn) utilization to a new high."
Beef prices take a breather
After two years of dramatic increases, the grocery store price of beef is stabilizing, says the Food Price Outlook.
A livestock “mini-boom” could last for several years
Livestock producers can anticipate strong returns in coming years in a "mini-boom" that could last for several years, says Purdue economist Chris Hurt in a university news release.
Farm-gate prices fall as harvest nears
Corn, soybean and wheat prices fell during August amid forecasts of a record fall harvest, said the monthly Agricultural Prices report.
Farm sector stronger than expected in a down year
Record livestock prices and bumper crops are blunting greatly a downturn in the farm economy, said the Agriculture Department in its semiannual Farm Sector Income forecast. USDA says net cash farm income, a measure of the ability to pay bills, will drop by 6 percent this year instead of the 22 percent plunge forecast in February.