Farmers could combine environmental and economic sustainability through practices that lock carbon into the soil, but it's dauntingly difficult to enter the carbon sequestration market and get paid for it, said the leaders of the two largest U.S. farm groups on Wednesday.
Grocery delivery is nothing new, and it certainly has become much more common since the beginning of the Covid-19 pandemic. But for stores like Michigan Hometown Foods, which is the lone grocery in a town of 275 people, the process looks a lot different than it does in a larger city, as Stephanie Parker reports in FERN latest story.(No paywall)
The Department of Agriculture said Thursday it would provide up to $1 billion in loan guarantees to help rural businesses and farmers meet their working capital needs during the pandemic. The new program is patterned on the USDA's existing Business and Industry program but with a higher loan guarantee level and lower requirements for collateral. (No paywall)
If 2019 was stressful for farmers and ranchers, with low commodity prices and bad weather for crops, the coronavirus crisis is compounding the economic challenges this year, said three Federal Reserve banks in recently released quarterly reports. (No paywall)
Covid-19 cases have been reported in more than two-thirds of rural counties, said a report by Senate Democrats, who called for nationwide rapid-response testing for the coronavirus and for expansion of high-speed internet to maintain commerce and healthcare in rural areas. (No paywall)
The government could spend $25 billion, or more, to help the farm sector survive the coronavirus pandemic and the accompanying economic slowdown, said Agriculture Secretary Sonny Perdue on Thursday. If that happens, the administration will have spent more than $50 billion in three years to mitigate the impact of catastrophic disease and trade war on U.S. agriculture. (No paywall)
Farmland prices are holding steady and agricultural banks are financially strong — potentially two key sources of support for the farm sector during the disruptions of the coronavirus pandemic — said the Federal Reserve in a report on Thursday. (No paywall)
Fifteen percent of rural Americans surveyed in the past week said they had either lost their job or were laid off because of the coronavirus pandemic, and an additional 14 percent said they were worried they would lose their jobs, according to the results of a survey released on Thursday. (No paywall)
Some 40 percent of the U.S. corn crop is refined into ethanol, but over the last two weeks, Covid-19 has joined a host of other disrupting factors to create what Geoff Cooper, president of the Renewable Fuels Association, calls “not just a perfect storm for ethanol, but a perfect tsunami.” Since the outbreak, ethanol prices have plunged to an all-time low of 88 cents a gallon and manufacturers are warning of more plant closures and reduced run rates.(No paywall)
Farmland in Nebraska is worth 3 percent more than it was a year ago, an average of $2,730 an acre, said an annual report by the University of Nebraska on Wednesday. It was the first increase in agricultural land values in the state since they peaked in 2014.