Ag Secretary Tom Vilsack announced a pilot program to allow more cattle producers and meat processors to access better markets through USDA’s official beef quality grading and certification.

The Remote Grading Pilot for Beef, developed by the AMS, matches simple technology with robust data management and program oversight to allow a USDA grader to assess beef carcass characteristics and assign the official quality grade from a remote location, reducing costs and location as barriers to participation in the voluntary grading service.

“On average, a beef carcass that grades as USDA Prime is valued at hundreds of dollars more than an ungraded one,” Vilsack says. “But the costs for this voluntary USDA service often prevent smaller scale processors and the farmers and ranchers they serve from using this valuable marketing tool.”

Consumers and buyers and sellers of beef rely on USDA quality grades, including Prime, Choice, and Select, to indicate quality.

Ag Secretary Tom Vilsack announced a pilot program to allow more cattle producers and meat processors to access better markets through USDA’s official beef quality grading and certification.The Remote Grading Pilot for Beef, developed by the AMS, matches simple technology with robust data management and program oversight to allow a USDA grader to assess beef carcass characteristics and assign the official quality grade from a remote location, reducing costs and location as barriers to participation in the voluntary grading service.“On average, a beef carcass that grades as USDA Prime is valued at hundreds of dollars more than an ungraded one,” Vilsack says. “But the costs for this voluntary USDA service often prevent smaller scale processors and the farmers and ranchers they serve from using this valuable marketing tool.”Consumers and buyers and sellers of beef rely on USDA quality grades, including Prime, Choice, and Select, to indicate quality.-NAFB

USDA Launches Pilot Beef-Grading Program

Senate Ag Committee Chair Debbie Stabenow wrote a letter to her colleagues on their work to write a new farm bill. She outlined several proposals for strengthening the farm safety net in the new bill.

While calling the 2018 Farm Bill a “strong foundation” for American farmers, she also says, “The 2024 Farm Bill is an opportunity for the Committee to make improvements, modernize dated elements, and address emerging challenges American farmers face.” Her vision for modernizing the safety net centers around principles like programs being targeted to active farmers, providing farmers choice and flexibility, and sending them timely assistance.

She also says officials need to expand the reach of programs to help more farmers and address the emerging risks farmers face. “Crop insurance is a key tool to meaningfully advance each of those goals,” she said in the letter. “Farmers want better affordability and a more straightforward and streamlined process.”

Senate Ag Committee Chair Debbie Stabenow wrote a letter to her colleagues on their work to write a new farm bill. She outlined several proposals for strengthening the farm safety net in the new bill.While calling the 2018 Farm Bill a “strong foundation” for American farmers, she also says, “The 2024 Farm Bill is an opportunity for the Committee to make improvements, modernize dated elements, and address emerging challenges American farmers face.” Her vision for modernizing the safety net centers around principles like programs being targeted to active farmers, providing farmers choice and flexibility, and sending them timely assistance.She also says officials need to expand the reach of programs to help more farmers and address the emerging risks farmers face. “Crop insurance is a key tool to meaningfully advance each of those goals,” she said in the letter. “Farmers want better affordability and a more straightforward and streamlined process.”-NAFB

Stabenow Releases Letter on the Farm Bill

Although the U.S. food supply is one of the safest, foodborne illness is a public health concern. The Food and Drug Administration has a new rule requiring detailed records for certain foods as they move through the supply chain, which can help trace the source of a potential outbreak.

FDA has taken steps like issuing guidance to help implement the rule. The Government Accountability Office has recommended that the FDA finalize its plans for implementing the rule to help industry and regulators prepare for compliance by January 30, 2026. In November 2022, the FDA promulgated a final rule on food traceability to help identify the source of outbreaks of foodborne illness.

When developing the new rule, FDA established a list of certain foods for which enhanced recordkeeping is required. Entities handling an item on the list must maintain records, including a traceability plan for specific points in the supply chain.

Although the U.S. food supply is one of the safest, foodborne illness is a public health concern. The Food and Drug Administration has a new rule requiring detailed records for certain foods as they move through the supply chain, which can help trace the source of a potential outbreak.FDA has taken steps like issuing guidance to help implement the rule. The Government Accountability Office has recommended that the FDA finalize its plans for implementing the rule to help industry and regulators prepare for compliance by January 30, 2026. In November 2022, the FDA promulgated a final rule on food traceability to help identify the source of outbreaks of foodborne illness.When developing the new rule, FDA established a list of certain foods for which enhanced recordkeeping is required. Entities handling an item on the list must maintain records, including a traceability plan for specific points in the supply chain.-NAFB

GAO Pushes FDA on Food Safety

JEFFERSON CITY, Mo. (AP) — On the first business day of the new year, Missouri Treasurer Vivek Malek began accepting applications for about $120 million of state-subsidized, low-interest loans to small businesses, farmers and affordable housing developers.

Within six hours, Malek had so many requests for the money that he had to&nbsp;<a href="https://treasurer.mo.gov/newsroom/news-and-events-item?pr=2d796735-a82e-4215-8b83-c1c159e7c95f">cut off applications</a>.

“The demand is huge, and it is real,” Malek said.

Missouri's situation, though extreme, is not entirely unique. From New York to Illinois to Montana, states have seen surging public interest in little-known programs that use state funds to spur private investment with bargain-priced loans. The programs have taken off after a series of key interest rate hikes by the Federal Reserve made virtually all&nbsp;<a href="https://apnews.com/article/treasury-yield-rates-wall-street-mortgage-aa78d3c3c50728ed62291a58695f3cd0?utm_source=copy&amp;utm_medium=share">loans more expansive</a>, whether for farmers purchasing seed or businesses wanting to expand.

To&nbsp;<a href="https://apnews.com/article/federal-reserve-inflation-prices-interest-rates-cuts-815e42c425cff3e76e89b8f37aaa52f4?utm_source=copy&amp;utm_medium=share">combat inflation</a>&nbsp;in consumer prices, the Fed raised its benchmark interest rate 11 times from March 2022 to last July, setting it at a two-decade high.

Under so-called linked-deposit programs, states deposit money in banks at below-market interest rates. Banks then leverage those funds to provide short-term, low-interest loans to particular borrowers, often in agriculture or small business. The programs can save thousands of dollars for borrowers by reducing their interest rates by an average 2-3 percentage points.

States typically cap the amount of money available for such discounted rates at either a flat dollar amount or a percentage of their total fund balances, because the programs result in less earnings for the state. Many states have built large surpluses from pandemic-era revenues, meaning they have more money available to deposit in banks.

Though most states don't currently offer such programs, some that shelved them when interest rates were low are now considering whether to revive them to aid financially-strapped businesses and residents.

“I can say in talks with other state treasurers that there is a definite increased interest in treasury money, whether that is through a linked-deposit program or a different vehicle," said Illinois Treasurer Michael Frerichs, who is president of the National Association of State Treasurers.

Illinois has nearly $950 million of deposits linked to low-interest loans for farmers, businesses and individuals. That's up substantially from past years. In 2015, Frerichs said, the state's agricultural investment program had just two low-interest loans. By 2022, that had grown to $51 million of loans. Last year, Illinois made $667 million of low-rate deposits for agricultural loans.

With rising demand, Frerichs recently raised the program’s overall cap from $1 billion to $1.5 billion.

Though smaller in scope, New York's program also has seen an explosion of applicants.

In 2022, New York had 42 applications for state deposits in financial institutions linked to $20 million in low-interest loans. Last year, that rose to 317 applications linked to more than $220 million of loans, said Rafael Salaberrios, a senior vice president who manages capital access programs at Empire State Development, New York's economic development agency.

“As the banks see the benefit, they are inundating us with applications — and that’s a good thing,” Salaberrios said. He added: "The linked deposit has allowed for the growth of small businesses to continue even during these high (interest) rate environments.”

Because of rising demand, Missouri's linked-deposit loan program neared its statutory cap of $800 million last May. After some existing loans expired, the treasurer's office was able to reopen applications at 10 a.m. on Jan. 2. By 4 p.m. that day, it had approached the cap again — receiving 142 applications totaling over $119 million — and closed the application window.

About half the applications came on behalf of customers of just two financial institutions — OakStar Bank and FCS Financial, a leading agricultural lender. FCS Financial had over 100 additional applications in line to submit when applications were cut off, said Brian Zimmerschied, vice president for its commercial crop lending team.

BTC Bank in rural Bethany, Missouri, had planned to turn in about dozen applications on behalf of its customers. But it missed out entirely because of the quick cutoff, bank CEO Doug Fish said.

Among those left disappointed was Jason Bernard, a farmer near Bethany who had hoped for a low-interest loan to help purchase this year's supply of seed, fertilizer and chemical spray.

With higher interest rates, "it’s a lot harder to make it, just because your payments,” Bernard said.

The Missouri treasurer's office is&nbsp;<a href="https://house.mo.gov/Bill.aspx?bill=HB1803&amp;year=2024&amp;code=R">backing legislation</a>&nbsp;to raise the program's cap from $800 million to $1.2 billion, which would mark a 50% increase in capacity. The expansion could cost the state $12 million of potential earnings, though that could be partly offset by the economic activity generated from those loans, according to a legislative&nbsp;<a href="https://documents.house.mo.gov/billtracking/bills241/fiscal/fispdf/3236H.01I.ORG.pdf">fiscal analysis</a>.

In Montana, lawmakers last year authorized a new program to address a shortage of affordable housing. The Montana Board of Investments launched a linked-deposit loan initiative in October that received $77 million of applications within two months, reaching a self-imposed cap and forcing it to close applications sooner than expected.

Republican state Rep. Mike Hopkins, who sponsored the housing incentive legislation, was thrilled with the response.

“We’re in a bit of a jam in the state of Montana" for affordable housing, Hopkins said, and “we were able to get money out the door as quickly as possible.”

Officials in Iowa, Kansas and Ohio also told the AP they had increased demand for programs that deposit state money in banks to provide low-interest loans. The number of such loan recipients in Kansas tripled from 2022 to 2023. In Ohio, the amount of money provided for those loans rose by two-thirds during that time, to more than $600 million.

Oklahoma's linked-deposit program has been dormant since 2010 amid low interest rates, but at least two banks recently contacted the treasurer's office about the possibility of restarting it, said Deputy Treasurer Jordan Harvey.

Texas Agriculture Commissioner Sid Miller said he hadn't approved any linked deposits for low-interest loans since taking office in 2015 — until last year, when he approved his first two.

“There wasn’t much need because interest rates were cheap," Miller said.

"But now that the rates are up," Miller added, “it could be a viable program, and we could help some people.”

<figure>
 <img src="https://media.eaglewebservices.com/public/2024/1/1705584027458.png" alt="Missouri Treasurer Vivek Malek stands near a poster promoting drought conditions and state aid programs on Jan. 4, 2024, at his Capitol office in Jefferson City, Mo. Agricultural entities are among several categories of businesses that can receive low-interest loans backed by deposits of state funds made by the treasurer's office. Participation in such programs has grown in various states. (AP Photo/David A. Lieb)" />
 <figcaption>Missouri Treasurer Vivek Malek stands near a poster promoting drought conditions and state aid programs on Jan. 4, 2024, at his Capitol office in Jefferson City, Mo. Agricultural entities are among several categories of businesses that can receive low-interest loans backed by deposits of state funds made by the treasurer's office. Participation in such programs has grown in various states. (AP Photo/David A. Lieb)</figcaption>
 </figure>JEFFERSON CITY, Mo. (AP) — On the first business day of the new year, Missouri Treasurer Vivek Malek began accepting applications for about $120 million of state-subsidized, low-interest loans to small businesses, farmers and affordable housing developers.Within six hours, Malek had so many requests for the money that he had to&nbsp;<a href="https://treasurer.mo.gov/newsroom/news-and-events-item?pr=2d796735-a82e-4215-8b83-c1c159e7c95f">cut off applications</a>.“The demand is huge, and it is real,” Malek said.Missouri's situation, though extreme, is not entirely unique. From New York to Illinois to Montana, states have seen surging public interest in little-known programs that use state funds to spur private investment with bargain-priced loans. The programs have taken off after a series of key interest rate hikes by the Federal Reserve made virtually all&nbsp;<a href="https://apnews.com/article/treasury-yield-rates-wall-street-mortgage-aa78d3c3c50728ed62291a58695f3cd0?utm_source=copy&amp;utm_medium=share">loans more expansive</a>, whether for farmers purchasing seed or businesses wanting to expand.To&nbsp;<a href="https://apnews.com/article/federal-reserve-inflation-prices-interest-rates-cuts-815e42c425cff3e76e89b8f37aaa52f4?utm_source=copy&amp;utm_medium=share">combat inflation</a>&nbsp;in consumer prices, the Fed raised its benchmark interest rate 11 times from March 2022 to last July, setting it at a two-decade high.Under so-called linked-deposit programs, states deposit money in banks at below-market interest rates. Banks then leverage those funds to provide short-term, low-interest loans to particular borrowers, often in agriculture or small business. The programs can save thousands of dollars for borrowers by reducing their interest rates by an average 2-3 percentage points.States typically cap the amount of money available for such discounted rates at either a flat dollar amount or a percentage of their total fund balances, because the programs result in less earnings for the state. Many states have built large surpluses from pandemic-era revenues, meaning they have more money available to deposit in banks.Though most states don't currently offer such programs, some that shelved them when interest rates were low are now considering whether to revive them to aid financially-strapped businesses and residents.“I can say in talks with other state treasurers that there is a definite increased interest in treasury money, whether that is through a linked-deposit program or a different vehicle," said Illinois Treasurer Michael Frerichs, who is president of the National Association of State Treasurers.Illinois has nearly $950 million of deposits linked to low-interest loans for farmers, businesses and individuals. That's up substantially from past years. In 2015, Frerichs said, the state's agricultural investment program had just two low-interest loans. By 2022, that had grown to $51 million of loans. Last year, Illinois made $667 million of low-rate deposits for agricultural loans.With rising demand, Frerichs recently raised the program’s overall cap from $1 billion to $1.5 billion.Though smaller in scope, New York's program also has seen an explosion of applicants.In 2022, New York had 42 applications for state deposits in financial institutions linked to $20 million in low-interest loans. Last year, that rose to 317 applications linked to more than $220 million of loans, said Rafael Salaberrios, a senior vice president who manages capital access programs at Empire State Development, New York's economic development agency.“As the banks see the benefit, they are inundating us with applications — and that’s a good thing,” Salaberrios said. He added: "The linked deposit has allowed for the growth of small businesses to continue even during these high (interest) rate environments.”Because of rising demand, Missouri's linked-deposit loan program neared its statutory cap of $800 million last May. After some existing loans expired, the treasurer's office was able to reopen applications at 10 a.m. on Jan. 2. By 4 p.m. that day, it had approached the cap again — receiving 142 applications totaling over $119 million — and closed the application window.About half the applications came on behalf of customers of just two financial institutions — OakStar Bank and FCS Financial, a leading agricultural lender. FCS Financial had over 100 additional applications in line to submit when applications were cut off, said Brian Zimmerschied, vice president for its commercial crop lending team.BTC Bank in rural Bethany, Missouri, had planned to turn in about dozen applications on behalf of its customers. But it missed out entirely because of the quick cutoff, bank CEO Doug Fish said.Among those left disappointed was Jason Bernard, a farmer near Bethany who had hoped for a low-interest loan to help purchase this year's supply of seed, fertilizer and chemical spray.With higher interest rates, "it’s a lot harder to make it, just because your payments,” Bernard said.The Missouri treasurer's office is&nbsp;<a href="https://house.mo.gov/Bill.aspx?bill=HB1803&amp;year=2024&amp;code=R">backing legislation</a>&nbsp;to raise the program's cap from $800 million to $1.2 billion, which would mark a 50% increase in capacity. The expansion could cost the state $12 million of potential earnings, though that could be partly offset by the economic activity generated from those loans, according to a legislative&nbsp;<a href="https://documents.house.mo.gov/billtracking/bills241/fiscal/fispdf/3236H.01I.ORG.pdf">fiscal analysis</a>.In Montana, lawmakers last year authorized a new program to address a shortage of affordable housing. The Montana Board of Investments launched a linked-deposit loan initiative in October that received $77 million of applications within two months, reaching a self-imposed cap and forcing it to close applications sooner than expected.Republican state Rep. Mike Hopkins, who sponsored the housing incentive legislation, was thrilled with the response.“We’re in a bit of a jam in the state of Montana" for affordable housing, Hopkins said, and “we were able to get money out the door as quickly as possible.”Officials in Iowa, Kansas and Ohio also told the AP they had increased demand for programs that deposit state money in banks to provide low-interest loans. The number of such loan recipients in Kansas tripled from 2022 to 2023. In Ohio, the amount of money provided for those loans rose by two-thirds during that time, to more than $600 million.Oklahoma's linked-deposit program has been dormant since 2010 amid low interest rates, but at least two banks recently contacted the treasurer's office about the possibility of restarting it, said Deputy Treasurer Jordan Harvey.Texas Agriculture Commissioner Sid Miller said he hadn't approved any linked deposits for low-interest loans since taking office in 2015 — until last year, when he approved his first two.“There wasn’t much need because interest rates were cheap," Miller said."But now that the rates are up," Miller added, “it could be a viable program, and we could help some people.”

States expand low-interest loan programs for farms, businesses and new housing

Senate Ag Chair Debbie Stabenow insists a long-overdue farm bill can get done this year if all parties are serious. It’s been more than three-and-a-half months since the 2018 farm bill expired and was extended by one year.

Asked outside the Senate chamber if another extension would be needed, Stabenow had this caveat.

“We can get this done if people are serious if people are serious about it. I’m serious about it. If people want to come together and do it in a bipartisan way, which we’ve always done, and do the doable, we can absolutely pass a farm bill.”

But disagreements over how to spread fixed funding between nutrition and crop support triggers or reference prices have stood in the way, as have broader appropriations fights and delays.

“So, we’ve lost revenue in that process. And then, as we move forward, all of these delays have focused CBO on appropriations, so we couldn’t get scores. And it’s just…there’ve been many delays, as it relates to the churning and the chaos.”

Stabenow says USDA Secretary Tom Vilsack’s focus on using CCC dollars as he did to boost foreign marketing programs is just one answer to funding a new farm bill.

“But CCC is part of that. The commitment that Senator Schumer made to me to add some additional money, unheard of, to find some money outside the farm bill to put in. We’re looking at everything we can. Frankly, I think this is very doable in reference prices.”

Stabenow says crop insurance, with its immediate payout for over 130 crops, has been highly effective, but ARC and PLC less so with payout delays of a year or more. So once a farm bill is up in her panel, Stabenow says she wants to focus on those things with the quickest payout for the most producers.

Senate Ag Chair Debbie Stabenow insists a long-overdue farm bill can get done this year if all parties are serious. It’s been more than three-and-a-half months since the 2018 farm bill expired and was extended by one year.Asked outside the Senate chamber if another extension would be needed, Stabenow had this caveat.“We can get this done if people are serious if people are serious about it. I’m serious about it. If people want to come together and do it in a bipartisan way, which we’ve always done, and do the doable, we can absolutely pass a farm bill.”But disagreements over how to spread fixed funding between nutrition and crop support triggers or reference prices have stood in the way, as have broader appropriations fights and delays.“So, we’ve lost revenue in that process. And then, as we move forward, all of these delays have focused CBO on appropriations, so we couldn’t get scores. And it’s just…there’ve been many delays, as it relates to the churning and the chaos.”Stabenow says USDA Secretary Tom Vilsack’s focus on using CCC dollars as he did to boost foreign marketing programs is just one answer to funding a new farm bill.“But CCC is part of that. The commitment that Senator Schumer made to me to add some additional money, unheard of, to find some money outside the farm bill to put in. We’re looking at everything we can. Frankly, I think this is very doable in reference prices.”Stabenow says crop insurance, with its immediate payout for over 130 crops, has been highly effective, but ARC and PLC less so with payout delays of a year or more. So once a farm bill is up in her panel, Stabenow says she wants to focus on those things with the quickest payout for the most producers.-NAFB

Stabenow Says a Farm Bill Can Get Done This Year if Parties Serious

The radio industry hit an important milestone as the number of lawmakers in the House who back efforts to make AM radio mandatory in vehicles has reached 200. The list has grown even as the proposed AM Radio in Every Vehicle Act has yet to make much legislative progress in the House.

Insider Radio says the growth in support could be critical if bill sponsors try to attach the measure to a piece of must-pass legislation like a spending bill. National Association of Broadcasters spokesman Alex Siciliano credits grassroots support for helping broadcasters to gain so many cosponsors of the Act during the past year.

“AM radio is continuing to reach a vast audience of 82 million listeners each month, and they’ve been very engaged in telling Congress how important this medium is to them in light of the threat by vehicle makers to remove AM from vehicles,” he says.

The radio industry hit an important milestone as the number of lawmakers in the House who back efforts to make AM radio mandatory in vehicles has reached 200. The list has grown even as the proposed AM Radio in Every Vehicle Act has yet to make much legislative progress in the House.Insider Radio says the growth in support could be critical if bill sponsors try to attach the measure to a piece of must-pass legislation like a spending bill. National Association of Broadcasters spokesman Alex Siciliano credits grassroots support for helping broadcasters to gain so many cosponsors of the Act during the past year.“AM radio is continuing to reach a vast audience of 82 million listeners each month, and they’ve been very engaged in telling Congress how important this medium is to them in light of the threat by vehicle makers to remove AM from vehicles,” he says.-NAFB

Record Support for AM Radio in the House

Growth Energy, the nation’s largest biofuels trade association, published its 2024 federal policy priorities.

“These are policy decisions that will shape the next era of growth in plant-based energy and climate solutions,” says Growth Energy CEO Emily Skor. “We hope these priorities serve as a roadmap for elected officials seeking to support biomanufacturing facilities at the heart of America’s bioeconomy.”

The policy priorities focus on ensuring drivers can use more lower-carbon, lower-cost bioethanol at the pump at home and abroad. The group wants to restore permanent, unrestricted access to E15 year-round nationwide. Growth Energy also wants to use bioethanol to expeditiously advance the national transportation carbon reduction goals.

They want to make sure the Department of Energy incorporates the best science and makes limited changes to the GREET model as it relates to the 408 Sustainable Aviation Fuel Tax Credit. They want to ensure changes are finished by March 1, 2024.

Growth Energy, the nation’s largest biofuels trade association, published its 2024 federal policy priorities.“These are policy decisions that will shape the next era of growth in plant-based energy and climate solutions,” says Growth Energy CEO Emily Skor. “We hope these priorities serve as a roadmap for elected officials seeking to support biomanufacturing facilities at the heart of America’s bioeconomy.”The policy priorities focus on ensuring drivers can use more lower-carbon, lower-cost bioethanol at the pump at home and abroad. The group wants to restore permanent, unrestricted access to E15 year-round nationwide. Growth Energy also wants to use bioethanol to expeditiously advance the national transportation carbon reduction goals.They want to make sure the Department of Energy incorporates the best science and makes limited changes to the GREET model as it relates to the 408 Sustainable Aviation Fuel Tax Credit. They want to ensure changes are finished by March 1, 2024.-NAFB

Growth Energy Outlines 2024 Policy Priorities

The National Cattlemen’s Beef Association strongly supports the Death Tax Repeal Act introduced in both the House and Senate. NCBA says it’s unconscionable for cattle producers to face a tax that forces them to sell all or part of their family’s farm or ranch due to the death of a family member.

“With the cost of farmland rising rapidly, the Death Tax presents a significant threat to the future of family farms and ranches,” says NCBA President Todd Wilkinson of South Dakota. “Most cattle producers have significant assets but are cash-poor and operate on thin margins, leaving them with few options when they are saddled with an unexpected tax liability.”

The NCBA says some producers get forced to sell off assets, including land, livestock, farm equipment, and even their home. Current death tax relief expires at the end of 2025, and it’s vital that Congress acts soon to provide permanent relief.

The National Cattlemen’s Beef Association strongly supports the Death Tax Repeal Act introduced in both the House and Senate. NCBA says it’s unconscionable for cattle producers to face a tax that forces them to sell all or part of their family’s farm or ranch due to the death of a family member.“With the cost of farmland rising rapidly, the Death Tax presents a significant threat to the future of family farms and ranches,” says NCBA President Todd Wilkinson of South Dakota. “Most cattle producers have significant assets but are cash-poor and operate on thin margins, leaving them with few options when they are saddled with an unexpected tax liability.”The NCBA says some producers get forced to sell off assets, including land, livestock, farm equipment, and even their home. Current death tax relief expires at the end of 2025, and it’s vital that Congress acts soon to provide permanent relief.-NAFB

NCBA Keeps Pushing for Death Tax Relief

New non-real estate farm lending activity at commercial banks continued to decline in the fourth quarter of 2023.

The volume of new non-real estate farm loans in the final months of 2023 was about 15 percent less than the previous year. The number of new loans did increase from the previous year, but the average loan sizes were considerably lower. The sharp climb in farm loan interest rates abated during the quarter as average rates increased modestly for some types of loans and dropped slightly for others.

Despite a reduction in new loans compared to late 2022, 2023’s outstanding farm debt balances reported by commercial banks grew steadily through the third quarter of 2023. Elevated production costs, higher interest expenses, and lower commodity prices increased the financing needs of many producers.

The Kansas City Fed says strong liquidity in recent years likely supplemented the borrowing needs of some operations throughout 2023.

New non-real estate farm lending activity at commercial banks continued to decline in the fourth quarter of 2023.The volume of new non-real estate farm loans in the final months of 2023 was about 15 percent less than the previous year. The number of new loans did increase from the previous year, but the average loan sizes were considerably lower. The sharp climb in farm loan interest rates abated during the quarter as average rates increased modestly for some types of loans and dropped slightly for others.Despite a reduction in new loans compared to late 2022, 2023’s outstanding farm debt balances reported by commercial banks grew steadily through the third quarter of 2023. Elevated production costs, higher interest expenses, and lower commodity prices increased the financing needs of many producers.The Kansas City Fed says strong liquidity in recent years likely supplemented the borrowing needs of some operations throughout 2023.-NAFB

Farm Lending Activity Remains Muted

Secretary Vilsack recently suggested use of Commodity Credit Corporation Funds as a remedy for the lack of farm bill funding to increase crop subsidy triggers or reference prices. And that idea may have support, even among its critics.

Vilsack insists the $30 billion CCC fund is a silver bullet and told a farm audience recently.

“The ARC payments and the PLC payments and the CRP payments all come from the Commodity Credit Corporation, so they’ve done it in the past. They just need to get to a point where they understand and appreciate, that is the easiest and simplest and best way to get a farm bill done.”

House and Senate conservatives want limits on CCC use for things like climate smart programs but seem flexible otherwise.

Ag Senator Chuck Grassley—hospitalized this week with an unspecified infection--introduced the USDA Spending Accountability Act.

“Secretaries of Agriculture, both Republican and Democrat, have used excess funds in the CCC, for their own agenda. It’s become one of the most costly tools in the farm safety net. Importantly, it will stop USDA from undermining the role of Congress, in writing the upcoming farm bill.”

And save some $8 billion, half of which Grassley would spend on deficit reduction, but the rest for farm programs.

Senate Ag Chair Debbie Stabenow with Ranking Ag Republican John Boozman asked Secretary Vilsack last year for trade promotion help from the CCC.

“A large part of that is already the way we fund the farm bill, so it’s not that there’s additional.”

Vilsack later announced use of $2.3 billion in CCC funds for export promotion and international food aid.

“The decision that we’re making and the decision we were asked to make by Senators Boozman and Stabenow is designed to provide some additional boost, at a time when it is challenging for the drafters of the farm bill to provide the resources necessary to meet all of the demand.”

Secretary Vilsack recently suggested use of Commodity Credit Corporation Funds as a remedy for the lack of farm bill funding to increase crop subsidy triggers or reference prices. And that idea may have support, even among its critics.Vilsack insists the $30 billion CCC fund is a silver bullet and told a farm audience recently.“The ARC payments and the PLC payments and the CRP payments all come from the Commodity Credit Corporation, so they’ve done it in the past. They just need to get to a point where they understand and appreciate, that is the easiest and simplest and best way to get a farm bill done.”House and Senate conservatives want limits on CCC use for things like climate smart programs but seem flexible otherwise.Ag Senator Chuck Grassley—hospitalized this week with an unspecified infection--introduced the USDA Spending Accountability Act.“Secretaries of Agriculture, both Republican and Democrat, have used excess funds in the CCC, for their own agenda. It’s become one of the most costly tools in the farm safety net. Importantly, it will stop USDA from undermining the role of Congress, in writing the upcoming farm bill.”And save some $8 billion, half of which Grassley would spend on deficit reduction, but the rest for farm programs.Senate Ag Chair Debbie Stabenow with Ranking Ag Republican John Boozman asked Secretary Vilsack last year for trade promotion help from the CCC.“A large part of that is already the way we fund the farm bill, so it’s not that there’s additional.”Vilsack later announced use of $2.3 billion in CCC funds for export promotion and international food aid.“The decision that we’re making and the decision we were asked to make by Senators Boozman and Stabenow is designed to provide some additional boost, at a time when it is challenging for the drafters of the farm bill to provide the resources necessary to meet all of the demand.”-NAFB

Vilsack CCC Farm Bill Remedy Has Some Support Even From Critics

The marketing year 2023/24 global soybean production forecast has increased by 0.1 million metric tons this month to 399.0 million metric tons.

USDA’s Monthly Oil Crops Outlook shows higher production in Argentina, the United States, Paraguay, Russia, China, and Bolivia more than offset lower production in Brazil. Global soybean trade for 2023/24 is forecasted to be up from last month and stands at 170.9 million metric tons due to higher exports from Paraguay and Russia.

The global soybean crush is nearly unchanged this month, as higher crush in Argentina, India, Egypt, and Thailand offsets the reduced crush volume in Brazil. Global soybean ending stocks are forecast at 114.6 million metric tons, up 0.4 million metric tons from last month's forecast and 12.7 million metric tons above last year's level.

In the latest Crop Production report by USDA, U.S. soybean production was raised by 35.2 million bushels on higher yields. The harvested acreage is reduced this month 0.4 million acres on lower harvested area.

The marketing year 2023/24 global soybean production forecast has increased by 0.1 million metric tons this month to 399.0 million metric tons.USDA’s Monthly Oil Crops Outlook shows higher production in Argentina, the United States, Paraguay, Russia, China, and Bolivia more than offset lower production in Brazil. Global soybean trade for 2023/24 is forecasted to be up from last month and stands at 170.9 million metric tons due to higher exports from Paraguay and Russia.The global soybean crush is nearly unchanged this month, as higher crush in Argentina, India, Egypt, and Thailand offsets the reduced crush volume in Brazil. Global soybean ending stocks are forecast at 114.6 million metric tons, up 0.4 million metric tons from last month's forecast and 12.7 million metric tons above last year's level.In the latest Crop Production report by USDA, U.S. soybean production was raised by 35.2 million bushels on higher yields. The harvested acreage is reduced this month 0.4 million acres on lower harvested area.-NAFB

Global Soybean Stocks Raised on Higher Production

The United Soybean Board Wednesday released the 2023 Soy Sustainability Overview.

The report outlines the partnerships formed through checkoff investment to drive innovation in sustainability. The advances include efforts to enhance sustainability in production agriculture and ongoing development of new soy-based products that provide cleaner alternatives for everything from rubbers and plastics to adhesives and lubricants.

Iowa farmer April Hemmes, chair of the Demand Action Team at USB, says, "U.S. Soy farmers are proud of the important and growing role they play in maximizing sustainability not only in farming but throughout industries and around the globe."

The report covers sustainable food practices, renewable energy such as biodiesel, and other sustainability practices. The report also provides updates on checkoff-funded research projects that hold significant promise in advancing sustainability, both on the farm and through groundbreaking new uses for soy.

For more information and to view the report, visit unitedsoybean.org.

The United Soybean Board Wednesday released the 2023 Soy Sustainability Overview.The report outlines the partnerships formed through checkoff investment to drive innovation in sustainability. The advances include efforts to enhance sustainability in production agriculture and ongoing development of new soy-based products that provide cleaner alternatives for everything from rubbers and plastics to adhesives and lubricants.Iowa farmer April Hemmes, chair of the Demand Action Team at USB, says, "U.S. Soy farmers are proud of the important and growing role they play in maximizing sustainability not only in farming but throughout industries and around the globe."The report covers sustainable food practices, renewable energy such as biodiesel, and other sustainability practices. The report also provides updates on checkoff-funded research projects that hold significant promise in advancing sustainability, both on the farm and through groundbreaking new uses for soy.For more information and to view the report, visit unitedsoybean.org.-NAFB

United Soybean Board Releases 2024 Sustainability Overview

Large-scale family farms accounted for a majority of the value of commodity production in 2022, according to a new report from USDA’s Economic Research Service.

Specifically, these farms accounted for 51 percent of cash grains and soybeans, 56 percent of hog production, 65 percent of cotton along with 65 percent of specialty crops, and 76 percent of dairy products. On the other hand, small family farms accounted for three percent of the value of production for dairy, four percent for cotton, seven percent for specialty crops, and 26 percent for beef, but they produced the majority of hay—53 percent—and 45 percent of poultry and eggs.

The value of production by nonfamily farms ranged from five percent for both hay production and poultry and eggs production to 19 percent for specialty crop production. Large scale family farms are those with a Gross Cash Farm Income of more than $1 million.

Large-scale family farms accounted for a majority of the value of commodity production in 2022, according to a new report from USDA’s Economic Research Service.Specifically, these farms accounted for 51 percent of cash grains and soybeans, 56 percent of hog production, 65 percent of cotton along with 65 percent of specialty crops, and 76 percent of dairy products. On the other hand, small family farms accounted for three percent of the value of production for dairy, four percent for cotton, seven percent for specialty crops, and 26 percent for beef, but they produced the majority of hay—53 percent—and 45 percent of poultry and eggs.The value of production by nonfamily farms ranged from five percent for both hay production and poultry and eggs production to 19 percent for specialty crop production. Large scale family farms are those with a Gross Cash Farm Income of more than $1 million.-NAFB

USDA: Large Family Farms Account for Bulk of Commodity Production

PITTSFIELD, ILL. — The nearly 45,000-acre P5 Ranch – the largest contiguous ranch in the state of Kansas – has officially changed ownership.

Located in Hamilton and Kearny counties about 24 miles west of Garden City, the ranch was recently sold by Whitetail Properties Real Estate. Spanning 44,923 +/- acres, it is the company’s largest property sale by acreage to date.

Mitch Keeley and Adam Hann, the Whitetail Properties Land Specialists in western Kansas who handled the sale, said P5 Ranch is truly a one-of-a-kind property. “Usually when we sell a property, it’s either a farm, cattle operation or recreational land,” said Keeley. “We often represent properties that fit one of these categories, but what’s so unique about the P5 is it combines all three property types. It’s very hard to find something like this in Kansas.”

Consisting of over 40,000 acres of prime pastureland and more than 2,700 acres of pivot irrigated and dryland tillable ground, the P5 Ranch has the ability to support a capacity of 6,500 to 8,000 head of cattle. The 17 irrigation pivots on the ranch are used for growing alfalfa, triticale and corn to support the high capacity of livestock grazing the ranch.

In addition to its top-notch agriculture qualities, the P5 offers some of the best hunting in the state. With over 17 miles of Arkansas River frontage, it provides incredible whitetail, mule deer and elk hunting along the river and throughout the sandhills. High populations of upland birds inhabit the ranch, and a 36-acre lake provides excellent waterfowl opportunities as well.

To top it off, the ranch is complete with a large log cabin which has provided housing for hunters on the ranch over the years. There are also four ranch houses for ranch employees.

Hann said it is also very rare to find a ranch of this size in such high-quality condition. “The P5 has been exceptionally well-maintained over the years with excellent fencing, new irrigation pivots and as clean of a ranch as you’ll find anywhere in the Midwest,” he said.

The selling price is not being disclosed, although it is described by Whitetail Properties as “top of the market” for a ranch of this magnitude. The former owners’ decision to sell was

based on not wanting to burden the next generation of ownership with the future responsibility of selling or handing off the ranch.

The two Kansas land specialists said another unique aspect of the transaction is that, unlike most of their sales, an extensive marketing campaign was not undertaken. “Given the magnitude of the ranch, we knew the number of potential buyers would be very limited,” said Keeley. “We realized that instead of widely advertising, we had to go out and find a buyer whose criteria fit the operation. And that’s exactly what we were able to do.”

That strategy proved successful, as the ranch was sold in just two months. The buyer determined that the ranch would be a good fit for his large cattle operation and that the purchase price would provide a rate of return that made sense for the investment.

“We took the buyer to the ranch multiple times to meet with the owners and felt everyone formed a great relationship from day one,” said Hann. “In most deals, the seller never meets the buyer. Upon closing of the P5, we were confident all parties walked away with a sense of satisfaction, and new relationships were formed that will carry on for many years.”

SubmittedPITTSFIELD, ILL. — The nearly 45,000-acre P5 Ranch – the largest contiguous ranch in the state of Kansas – has officially changed ownership.Located in Hamilton and Kearny counties about 24 miles west of Garden City, the ranch was recently sold by Whitetail Properties Real Estate. Spanning 44,923 +/- acres, it is the company’s largest property sale by acreage to date.Mitch Keeley and Adam Hann, the Whitetail Properties Land Specialists in western Kansas who handled the sale, said P5 Ranch is truly a one-of-a-kind property. “Usually when we sell a property, it’s either a farm, cattle operation or recreational land,” said Keeley. “We often represent properties that fit one of these categories, but what’s so unique about the P5 is it combines all three property types. It’s very hard to find something like this in Kansas.”Consisting of over 40,000 acres of prime pastureland and more than 2,700 acres of pivot irrigated and dryland tillable ground, the P5 Ranch has the ability to support a capacity of 6,500 to 8,000 head of cattle. The 17 irrigation pivots on the ranch are used for growing alfalfa, triticale and corn to support the high capacity of livestock grazing the ranch.In addition to its top-notch agriculture qualities, the P5 offers some of the best hunting in the state. With over 17 miles of Arkansas River frontage, it provides incredible whitetail, mule deer and elk hunting along the river and throughout the sandhills. High populations of upland birds inhabit the ranch, and a 36-acre lake provides excellent waterfowl opportunities as well.To top it off, the ranch is complete with a large log cabin which has provided housing for hunters on the ranch over the years. There are also four ranch houses for ranch employees.Hann said it is also very rare to find a ranch of this size in such high-quality condition. “The P5 has been exceptionally well-maintained over the years with excellent fencing, new irrigation pivots and as clean of a ranch as you’ll find anywhere in the Midwest,” he said.The selling price is not being disclosed, although it is described by Whitetail Properties as “top of the market” for a ranch of this magnitude. The former owners’ decision to sell wasbased on not wanting to burden the next generation of ownership with the future responsibility of selling or handing off the ranch.Sold in Just Two MonthsThe two Kansas land specialists said another unique aspect of the transaction is that, unlike most of their sales, an extensive marketing campaign was not undertaken. “Given the magnitude of the ranch, we knew the number of potential buyers would be very limited,” said Keeley. “We realized that instead of widely advertising, we had to go out and find a buyer whose criteria fit the operation. And that’s exactly what we were able to do.”That strategy proved successful, as the ranch was sold in just two months. The buyer determined that the ranch would be a good fit for his large cattle operation and that the purchase price would provide a rate of return that made sense for the investment.“We took the buyer to the ranch multiple times to meet with the owners and felt everyone formed a great relationship from day one,” said Hann. “In most deals, the seller never meets the buyer. Upon closing of the P5, we were confident all parties walked away with a sense of satisfaction, and new relationships were formed that will carry on for many years.”

SOLD! Largest contiguous ranch in Kansas changes hands

Rural residents join Republicans, renters, women, and single people in feeling they’re in a funk financially.

That’s according to the Axios Vibe survey by The Harris Poll. Inflation has dipped in recent months, but the subject remains top of mind for many Americans. Six in 10 survey respondents say they’re now “triggered” by trips to the grocery store. Grocery purchases are the top way Americans say they feel inflation every day, followed by gas prices. Thirty-seven percent of Americans rate their financial situation as poor. That rises to 57 percent for renters, 47 percent for singles, and 46 percent for rural residents.

Forty-one percent of Americans say their finances are worse today than they’d have predicted if they’d been asked, pre-COVID, to imagine the future. That percentage rises to 53 percent for rural residents and 51 percent for renters. The poll finds many Americans, including rural residents, calling the economy weak.

Rural residents join Republicans, renters, women, and single people in feeling they’re in a funk financially.That’s according to the Axios Vibe survey by The Harris Poll. Inflation has dipped in recent months, but the subject remains top of mind for many Americans. Six in 10 survey respondents say they’re now “triggered” by trips to the grocery store. Grocery purchases are the top way Americans say they feel inflation every day, followed by gas prices. Thirty-seven percent of Americans rate their financial situation as poor. That rises to 57 percent for renters, 47 percent for singles, and 46 percent for rural residents.Forty-one percent of Americans say their finances are worse today than they’d have predicted if they’d been asked, pre-COVID, to imagine the future. That percentage rises to 53 percent for rural residents and 51 percent for renters. The poll finds many Americans, including rural residents, calling the economy weak.-NAFB

Rural Residents Among Country’s Unhappiest People

The National Pork Producers Council submitted comments critical of the Food and Drug Administration’s draft guidance on the duration of use of certain antibiotics in food animals.

NPPC says the proposal would “deny the ability for a veterinarian to prescribe antimicrobials appropriately, burden pharmaceutical companies, and may jeopardize antibiotic access.” For 30 years, the U.S. pork industry has implemented measures, including FDA directives, for responsible antibiotic use. In the comments, NPPC emphasized that veterinarians are responsible for deciding what antimicrobials to prescribe, when products should be used and administered, which animals to medicate, and for how long.

The organization says the draft guidance interferes with the veterinarian’s decision-making process by mandating a duration of use. The comments urge the FDA to work closely with drug manufacturers to provide a simple process to include duration of use to continue the availability of products and allow veterinarians to maintain their role in the decision-making process.

The National Pork Producers Council submitted comments critical of the Food and Drug Administration’s draft guidance on the duration of use of certain antibiotics in food animals.NPPC says the proposal would “deny the ability for a veterinarian to prescribe antimicrobials appropriately, burden pharmaceutical companies, and may jeopardize antibiotic access.” For 30 years, the U.S. pork industry has implemented measures, including FDA directives, for responsible antibiotic use. In the comments, NPPC emphasized that veterinarians are responsible for deciding what antimicrobials to prescribe, when products should be used and administered, which animals to medicate, and for how long.The organization says the draft guidance interferes with the veterinarian’s decision-making process by mandating a duration of use. The comments urge the FDA to work closely with drug manufacturers to provide a simple process to include duration of use to continue the availability of products and allow veterinarians to maintain their role in the decision-making process.-NAFB

Pork Producers Concerned About FDA Antibiotics Proposal

Donnie Wahlberg of the TV show “Bluebloods” has joined Clean Fuels Alliance America in a campaign to raise awareness about Bioheat Fuel, an environmentally responsible and sustainable energy solution It’s an eco-friendly and sustainable home heating solution derived from plants, including soybeans.

Wahlberg, a Boston native, is excited about promoting a cleaner future, especially in the Northeast. Bioheat fuel is a renewable energy source that blends traditional heating oil with biodiesel, significantly reducing carbon emissions and environmental impact. Wahlberg’s partnership with Clean Fuels is driven by a shared commitment to promoting sustainable energy solutions and fostering environmental responsibility.

“Donnie’s involvement adds a powerful voice to our campaign, bringing attention to the positive impact of Bioheat fuel on a local and global scale,” says Clean Fuels CEO Donnell Rehagen. “We believe that together, we can inspire positive change and encourage individuals to make the switch to cleaner, more sustainable heating options.”

Donnie Wahlberg of the TV show “Bluebloods” has joined Clean Fuels Alliance America in a campaign to raise awareness about Bioheat Fuel, an environmentally responsible and sustainable energy solution It’s an eco-friendly and sustainable home heating solution derived from plants, including soybeans.Wahlberg, a Boston native, is excited about promoting a cleaner future, especially in the Northeast. Bioheat fuel is a renewable energy source that blends traditional heating oil with biodiesel, significantly reducing carbon emissions and environmental impact. Wahlberg’s partnership with Clean Fuels is driven by a shared commitment to promoting sustainable energy solutions and fostering environmental responsibility.“Donnie’s involvement adds a powerful voice to our campaign, bringing attention to the positive impact of Bioheat fuel on a local and global scale,” says Clean Fuels CEO Donnell Rehagen. “We believe that together, we can inspire positive change and encourage individuals to make the switch to cleaner, more sustainable heating options.”-NAFB

Actor Joining Clean Fuels Alliance to Promote Bioheat

John Deere announced it entered into an agreement with SpaceX to provide cutting-edge satellite communications service to farmers. Utilizing the Starlink network will allow farmers facing rural connectivity issues to fully leverage precision agriculture technologies.

The partnership will enable John Deere customers to be more productive, profitable, and sustainable in their operations as they continue to provide food, fuel, and fiber to their communities and a growing global population.

“The value of connectivity to farmers is broader than any single task or action,” says Aaron Wetzel, vice president of production and precision ag systems at John Deere. “Connectivity unlocks vast opportunities that were previously limited or unavailable.”

The new solution will connect both new and existing machines through satellite internet service and satellite terminals. This will fully enable technologies such as autonomy, real-time data sharing, remote diagnostics, enhanced self-repair solutions, and machine-to-machine communication to help farmers work more efficiently.

John Deere announced it entered into an agreement with SpaceX to provide cutting-edge satellite communications service to farmers. Utilizing the Starlink network will allow farmers facing rural connectivity issues to fully leverage precision agriculture technologies.The partnership will enable John Deere customers to be more productive, profitable, and sustainable in their operations as they continue to provide food, fuel, and fiber to their communities and a growing global population.“The value of connectivity to farmers is broader than any single task or action,” says Aaron Wetzel, vice president of production and precision ag systems at John Deere. “Connectivity unlocks vast opportunities that were previously limited or unavailable.”The new solution will connect both new and existing machines through satellite internet service and satellite terminals. This will fully enable technologies such as autonomy, real-time data sharing, remote diagnostics, enhanced self-repair solutions, and machine-to-machine communication to help farmers work more efficiently.-NAFB

Collaboration Will Expand Rural Connectivity

The U.S. Court of Appeals in the 11th Circuit dismissed a case involving the Hunt Refining Company and the Environmental Protection Agency.

The court ruled that the Small Refinery Exemption challenge brought by Hunt under the Renewable Fuels Standard couldn’t be heard by the court and should be heard instead by the Court of Appeals for the D.C. Circuit. Growth Energy CEO Emily Skor says the 11th Circuit Court validated what’s already known.

“EPA’s denials of these SRE petitions were ‘nationally applicable’ and have nationwide effect, and challenges to the denials have only been brought to the D.C. Circuit Court,” Skor says. “Every time refiners seek to take RFS gallons out of the marketplace, that potentially impacts the entire renewable fuels market, no matter where those gallons get blended.” She also says the 11th Circuit rightly removed itself from the challenges and avoided contributing to a potential patchwork of inconsistent standards.

The U.S. Court of Appeals in the 11th Circuit dismissed a case involving the Hunt Refining Company and the Environmental Protection Agency.The court ruled that the Small Refinery Exemption challenge brought by Hunt under the Renewable Fuels Standard couldn’t be heard by the court and should be heard instead by the Court of Appeals for the D.C. Circuit. Growth Energy CEO Emily Skor says the 11th Circuit Court validated what’s already known.“EPA’s denials of these SRE petitions were ‘nationally applicable’ and have nationwide effect, and challenges to the denials have only been brought to the D.C. Circuit Court,” Skor says. “Every time refiners seek to take RFS gallons out of the marketplace, that potentially impacts the entire renewable fuels market, no matter where those gallons get blended.” She also says the 11th Circuit rightly removed itself from the challenges and avoided contributing to a potential patchwork of inconsistent standards.-NAFB

Growth Energy Applauds Court Ruling

The Farmers National Company says the farmland market seems to be moving into the new year maintaining the value increases it’s built during the last three years.

That stability is in place despite increasing pressure from declining commodity markets, rising interest rates, and inflation. The sharp increase in land values last year which was driven primarily by strong commodity markets has slowed, but the value is holding steady. Buyer demand remains strong for good quality cropland in the Midwest, while the supply of available land remains limited.

“These factors further play into the dynamics of the supply-demand scenario and remain a large factor in supporting current values in early 2024,” says Paul Schadegg, senior vice president of real estate operations for Farmers National. Local farmers/operators continue to be the principal buyers in almost 80 percent of Farmland’s sales transactions. “Available cash plays a role in buyer’s aggressiveness when bidding on land.”

The Farmers National Company says the farmland market seems to be moving into the new year maintaining the value increases it’s built during the last three years.That stability is in place despite increasing pressure from declining commodity markets, rising interest rates, and inflation. The sharp increase in land values last year which was driven primarily by strong commodity markets has slowed, but the value is holding steady. Buyer demand remains strong for good quality cropland in the Midwest, while the supply of available land remains limited.“These factors further play into the dynamics of the supply-demand scenario and remain a large factor in supporting current values in early 2024,” says Paul Schadegg, senior vice president of real estate operations for Farmers National. Local farmers/operators continue to be the principal buyers in almost 80 percent of Farmland’s sales transactions. “Available cash plays a role in buyer’s aggressiveness when bidding on land.”-NAFB

Farmland Market is “Resilient”

USDA released its December 2023 Grain Stocks report that showed higher corn and wheat stocks in all positions, while soybean stocks dropped from 2022.

Corn in all positions totaled 12.2 billion bushels, 13 percent above December 2022. Soybeans were estimated at three billion bushels, one percent lower than a year ago. All wheat on December 1, 2023, totaled 1.41 billion bushels, eight percent above 2022. The winter wheat area planted for 2024 harvest is estimated at 34.4 million acres, six percent below 2023 but three percent higher than in 2022.

Kansas and Texas, the two states with the largest acreages, are expected to be down seven and eight percent, respectively. Michigan and Utah were expected to plant a record-low number of acres. Hard Red Winter Wheat seeded area is expected to be 24 million acres, five percent below 2023. The largest drop in planted acres is in Kansas and Texas.

USDA released its December 2023 Grain Stocks report that showed higher corn and wheat stocks in all positions, while soybean stocks dropped from 2022.Corn in all positions totaled 12.2 billion bushels, 13 percent above December 2022. Soybeans were estimated at three billion bushels, one percent lower than a year ago. All wheat on December 1, 2023, totaled 1.41 billion bushels, eight percent above 2022. The winter wheat area planted for 2024 harvest is estimated at 34.4 million acres, six percent below 2023 but three percent higher than in 2022.Kansas and Texas, the two states with the largest acreages, are expected to be down seven and eight percent, respectively. Michigan and Utah were expected to plant a record-low number of acres. Hard Red Winter Wheat seeded area is expected to be 24 million acres, five percent below 2023. The largest drop in planted acres is in Kansas and Texas.-NAFB

USDA Releases Grain Stocks, Winter Wheat Seeding Reports

The Consumer Electronics show in Las Vegas, Nevada, had plenty to offer in the way of future technology, including self-driving cars and Artificial Intelligence.

Radio Ink says broadcasters should be encouraged that radio continues to show up at a high-tech event like CES. Radio’s largest presence was in the car, just like in everyday life. One company showed off the DTS AutoStage technology in a BMW. It offered a visual way to enjoy AM-FM and in-car games like Jeopardy. As electric vehicles continue to grow, companies are looking for ways to help drivers and passengers pass the time while their EVs charge.

The Consumer Electronics show in Las Vegas, Nevada, had plenty to offer in the way of future technology, including self-driving cars and Artificial Intelligence.Radio Ink says broadcasters should be encouraged that radio continues to show up at a high-tech event like CES. Radio’s largest presence was in the car, just like in everyday life. One company showed off the DTS AutoStage technology in a BMW. It offered a visual way to enjoy AM-FM and in-car games like Jeopardy. As electric vehicles continue to grow, companies are looking for ways to help drivers and passengers pass the time while their EVs charge.

Radio Hand-In-Hand With the Future

The USDA will begin accepting applications for the Continuous Conservation Reserve Program signup on January 12.

The Farm Service Agency encourages agricultural producers and landowners interested in conservation opportunities for their land in exchange for yearly rental payments to consider the enrollment options available through Continuous CRP. It also includes the Conservation Reserve Enhancement Program offered by FSA partners. Additionally, producers participating in CRP can apply to re-enroll beginning January 12 if their contracts expire this year.

“Continuous CRP is one of the best conservation tools we can provide producers and landowners,” says FSA Administrator Zach Ducheneaux. “Whether a producer wants to focus on water quality benefits or work with one of our partners to address natural resource concerns in their area, the program offers many options to help meet those resource conservation goals.”

The USDA will begin accepting applications for the Continuous Conservation Reserve Program signup on January 12.The Farm Service Agency encourages agricultural producers and landowners interested in conservation opportunities for their land in exchange for yearly rental payments to consider the enrollment options available through Continuous CRP. It also includes the Conservation Reserve Enhancement Program offered by FSA partners. Additionally, producers participating in CRP can apply to re-enroll beginning January 12 if their contracts expire this year.“Continuous CRP is one of the best conservation tools we can provide producers and landowners,” says FSA Administrator Zach Ducheneaux. “Whether a producer wants to focus on water quality benefits or work with one of our partners to address natural resource concerns in their area, the program offers many options to help meet those resource conservation goals.”

USDA Reopening Signup for Continuous CRP

USDA released its final 2023 Crop Production Report showing a rise in corn production and a drop in soybean production. 2023 corn production hit a record 15.3 billion bushels, 12 percent above 2022.

The average yield was a record-high 177.3 bushels per acre, 3.9 bushels above 2022. Soybean production in 2023 reached 4.16 billion bushels, two percent lower than in 2022. The average yield was 50.6 bushels per acre, one bushel above 2022, but the production drop was due to four percent fewer harvested acres than the previous year. Meanwhile, the December WASDE Report calls for greater corn production, larger domestic use, and higher ending stocks.

USDA released its final 2023 Crop Production Report showing a rise in corn production and a drop in soybean production. 2023 corn production hit a record 15.3 billion bushels, 12 percent above 2022.The average yield was a record-high 177.3 bushels per acre, 3.9 bushels above 2022. Soybean production in 2023 reached 4.16 billion bushels, two percent lower than in 2022. The average yield was 50.6 bushels per acre, one bushel above 2022, but the production drop was due to four percent fewer harvested acres than the previous year. Meanwhile, the December WASDE Report calls for greater corn production, larger domestic use, and higher ending stocks.

Final 2023 Crop Report Shows Jump in Corn Production

Combine harvester sales closed out the year ahead of 2022 levels, while almost all tractor segments saw declines in both the U.S. and Canada.

The latest data from the Association of Equipment Manufacturers says total U.S. farm tractor sales fell 5.1 percent in December compared to 2022, while year-to-date sales came in 8.7 percent lower than the previous year. However, 100+ horsepower tractors grew 5.2 percent for the year and 3.6 percent in December. Combine harvesters finished 2023 with sales up 1.7 percent last month.

The sub-40 horsepower segment led the yearly losses, falling 11 percent in 2023 on the heels of a 5.8 percent drop in December. For Canada, four-wheel drive farm tractor sales jumped 65 percent in December and finished the year up 44 percent overall. Overall unit tractor sales finished 2023 down 14 percent for December and 10.7 percent overall. AEM is still confident about long-term sales growth.

Combine harvester sales closed out the year ahead of 2022 levels, while almost all tractor segments saw declines in both the U.S. and Canada.The latest data from the Association of Equipment Manufacturers says total U.S. farm tractor sales fell 5.1 percent in December compared to 2022, while year-to-date sales came in 8.7 percent lower than the previous year. However, 100+ horsepower tractors grew 5.2 percent for the year and 3.6 percent in December. Combine harvesters finished 2023 with sales up 1.7 percent last month.The sub-40 horsepower segment led the yearly losses, falling 11 percent in 2023 on the heels of a 5.8 percent drop in December. For Canada, four-wheel drive farm tractor sales jumped 65 percent in December and finished the year up 44 percent overall. Overall unit tractor sales finished 2023 down 14 percent for December and 10.7 percent overall. AEM is still confident about long-term sales growth.-NAFB