Missed some agricultural news this week? Here are seven stories to catch you up.
Soy stumbles after USDA’s Quarterly Grain Stocks
Thursday’s USDA’s Quarterly Grain Stocks report surprised markets today after finding 81 million more bushels of old crop (2020/21) soybean bushels. Soybean yields moved 0.8 bushels per acre higher, to 51.0 bpa. – Farm Futures
Lawsuit against beef processors
A federal judge in Minnesota ordered a class action lawsuit against JBS, Tyson, National Beef and Cargill to proceed. In the ruling, Judge John R. Tunheim found that plaintiffs have plausibly plead that defendants conspired to suppress the price of fed cattle and increase the price of beef. – BEEF
Nitrogen use efficiency genetics
Machine learning can pinpoint genes of importance that help crops grow with less fertilizer. “Now that we can more accurately predict which corn hybrids are better at using nitrogen fertilizer in the field, we can rapidly improve this trait,” says researcher Stephen Moose. – University of Illinois Urbana-Champaign
Farm belt revival
A rally in prices for agricultural commodities is pushing up incomes for U.S. farmers and unleashing spending and investment that had been subdued for years. Meanwhile, federal payments to farmers are set to drop 39% this year, leaving farmers more exposed to swings in agricultural markets. – Wall Street Journal
Schools scramble to feed kids
Schools across the country are facing shortages of cafeteria staples like chicken, bread, apple juice and even plastic cutlery, as supply chain woes and a lack of truck drivers complicate the most basic task of feeding students. – The New York TImes
Vilsack pours $3 billion into ag sector
USDA announced an additional $3 billion will be made available through the Commodity Credit Corporation to prevent the spread of African swine fever, assist producers grappling with drought and market disruptions at ports and help school nutrition professionals obtain nutritious food for students. – Farm Futures
More time to replace livestock after drought
Farmers and ranchers forced by drought to sell livestock may have another year to replace the livestock and defer tax on gains from the sales, according to the Internal Revenue Service. – Accounting Today
And your bonus.
October is National Pork Month! Pork is the worlds' most widely eaten meat, ahead of chicken and beef. This is a time to celebrate and remember all the hard-working farm families that are there every day of the year so we can all enjoy a safe, sustainable, affordable, and yes, a 'tasty' food we call pork! – National Hog Farmer