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Shining Light on Farm & Food Policy for 20 Years.
Tuesday, October 01, 2024
When the Russian military invasion cut off Ukraine’s ability to export sunflower oil and wheat, it helped push “a cascading food crisis around the world,” according to a spokeswoman for the U.S. Agency for U.S. Agency for International Development. Now Indonesia, which last week banned the export of palm oil, is exacerbating the conditions that are driving global shortages and price spikes of vegetable oil.
Economists have raised their forecast for farm income this year. As a result, farm earnings are expected to be about the same this year as last, despite sharp increases in production costs.
Seed giant Corteva is packing up and ceasing all operations in Russia as the country continues its military invasion of Ukraine, according to a press release from the company.
A House Republican is calling for the Senate to move forward on cattle market reform efforts, saying it would give the House an opportunity to respond and push efforts closer to a final agreement.
Leaders of the Senate Agriculture Committee heard from Michigan producers who represent a broad range of commodities, scale and farming practices as the panel formally started hearings on the next farm bill.
The USDA on Thursday reported yet another Chinese purchase of more than a million metric tons of U.S. corn, pushing cumulative U.S. corn sales to China so far in the current 2021-22 marketing year to roughly 14.7 million metric tons.
President Joe Biden's $33 billion supplemental funding request for the war in Ukraine includes $500 million to encourage U.S. farmers to increase production of crops such as soybeans and wheat.
The Biden administration will spend $282 million on domestic commodities such as wheat as part of a food aid package for Yemen and five African nations experiencing severe drought and food insecurity, USDA and the U.S. Agency for International Development said Wednesday.