Economy and Trade

A large coalition of agriculture and business groups asked President Biden to intervene in the west coast port labor negotiations.  In a letter signed by the groups, including the American Farm Bureau Federation, they say, “It is imperative that the administration work with the parties to quickly reach a new agreement and ensure there is no disruption to port operations."   The c...

Tyson Foods recently announced it will be closing a Virginia processing plant in May.  The two-month notice given to its chicken suppliers has raised concerns among farmers and legal experts about Tyson’s compliance with antitrust regulations.  Those re...

With many investors confident that the worst of the banking situation is behind us, oil prices are moving higher.  West Texas Crude prices increased roughly $4 in the past week, trading in the low-to-mid $70 per barrel range, which means gasoline prices are likely not far behind before moving up.  Despite...

Farmers Business Network released its 2023 Ag Chemical Price Transparency Report last week, which highlighted the extreme price variation facing farmers.  The report collected information from 37 states and accounts for over 800 insecticides, fungicides, and herbicides.   “...

Despite numerous headwinds in 2022, agricultural lending by U.S. farm banks increased by 8.1% last year to $103.1 billion.  The American Bankers Association’s annual Farm Bank Performance Report said the change is due to a 9.7% increase in outstanding loans, secured by farmland and a 5.9% increas...

A tough budget environment and expected falling crop prices will make it even more challenging to write the next Farm Bill.  Senate Ag Republican Chief Economist John Newton said producers are facing soaring input costs, an unrealistic farm safety net and gloomy Congressional Budget Office crop projections.   “...

After three straight months of readings slightly above growth neutral, the Creighton University Rural Mainstreet Index fell below the growth neutral threshold.  The March index slumped from 50.1 in February to a reading of 45.6 in March.  Despite...

Representative Josh Gotthemier this week urged electric vehicle manufacturers to include AM radio in their cars and trucks.  The New Jersey Democrat says, "I would think that if Elon Musk has enough money to buy Twitter and send rockets to space, he can afford to include AM radio in his Teslas."  H...

As part of the National Ag Day Celebration this week, the National Association of State Departments of Agriculture released its annual Feeding the Economy Report.  The data shows food and agriculture industries and their suppliers contribute over $8.6 trillio...

The American Farm Bureau Federation is urging Congress to pass legislation freezing the “flawed” 2023 Adverse Effect Wage Rate, or AEWR.  AFBF said the rate distorts labor costs for farmers across the country who hire nearly 400,000 employees through the H-2A program.   The bipartis...