Cotton growers make room for more corn and wheat
Battered by drought and rising costs, U.S. cotton growers will devote more of their land to corn, wheat and soybeans — crops that promise higher revenue this year — while sharply reducing their cotton plantings, said a survey released on Sunday. The National Cotton Council said its survey of growers indicated 11.4 million acres will be planted to cotton this spring, 17 percent less than last year.
Few farmers adjust operations because of higher energy prices
Higher input costs are by far the No. 1 concern among farmers, but only a minority of them have altered their operations because of rising energy prices, according to a Purdue University poll of large-scale operators.
Farm income jumps 14 percent to record high
High commodity prices, due in part to warfare in Ukraine, will propel U.S. net farm income to a record $160.5 billion this year, despite a steep climb in expenses, said the Agriculture Department on Thursday. Farm income, a gauge of profitability, would be 14 percent higher than last year.
FTC accuses two pesticide makers of ‘boxing out’ competitors
Two of the largest pesticide makers in the world, Syngenta and Corteva, illegally paid distributors to limit their business with competitors that made cheaper generic versions of their chemicals so they could charge inflated prices to farmers, alleged the Federal Trade Commission and 10 state attorneys general in a lawsuit on Thursday.
Survey: Farmers’ outlook improves, but higher input costs loom as major concern
U.S. commodity growers are feeling a little better about their prospects for the coming year than they were last month, but a number of major concerns persist and overall farmer sentiment remains far gloomier than a year ago, according to the Purdue/CME Group Ag Economy Barometer for August.
Rising input costs cloud the sunny outlook for farm income
High commodity prices are the fueling a strong farm economy in the Midwest and Plains this summer, but agricultural lenders worry that higher prices for seeds, fertilizer, fuel and other inputs will put the brakes on farm income in the near term. "Lenders reported growing concerns about 2023," said the Kansas City Federal Reserve Bank, one of four regional Feds to survey bankers every three months about farm finances.
Farmer confidence is second-lowest in nearly six years
Seven out of every 10 large-scale farmers and ranchers expect high inflation to persist into 2023 and 51 percent anticipate their operations will be worse off financially next summer than they are now, said Purdue University on Tuesday. Its Ag Economy Barometer, a monthly gauge of farmer confidence, fell to its second-lowest level since October 2016.
Ag poll: War in Ukraine means higher U.S. farm costs
The largest U.S. farmers and ranchers say the Russian invasion of Ukraine, with its disruption of grain, oil and fertilizer shipping, will drive up their costs of production, according to a Purdue University poll released on Tuesday. The Ag Economy Barometer also showed big operators are tempering somewhat their expectations of soaring input prices.