AFBF: Russia Invasion Of Ukraine Will Be Felt In Grain Markets For Some Time

Inflation shocks from Russia’s invasion of Ukraine are already being felt in the grain and energy sectors and could soon affect U.S. growers and consumers. Oil and gas prices are on the march, grain prices are rising to multi-year highs with Black Sea shipping blocked and war likely to prevent plantings in Ukraine or embargo […]

Nigh: Export Outlook Good News For Farmers, Ranchers

Last week, the USDA released its export forecast. American Farm Bureau Federation Senior Economist Veronica Nigh said the projections spell good news for farmers and ranchers. “USDA is projecting another banner year for U.S. ag exports. They’re projecting, in fiscal year ‘22, ag exports will reach a record $183 billion, which is up over 11 […]

Nigh: 2021 A Good Year For Exports But Potential Remains

According to the USDA, 2021 farm and food exports totaled $177 billion, an 18% year-over-year increase, and nearly 15% higher than the previous record set in 2014. “Of course, increased commodity prices and rising global inflation contributed to that,” said American Farm Bureau Federation Senior Economist Veronica Nigh. “About two-thirds of that increase can be […]

AFBF: Farmers Trying To Overcome Issues Out Of Their Control

Fuel and food inflation continue to challenge consumers and producers, and farm interests say some of that is within the government’s control, while some aren’t. Inflation is the highest in more than 30 years, and Federal Reserve Chairman Jerome Powell says the problem’s no longer “transitory” and could worsen with the new COVID variant—Omicron. American […]

AFBF Opposes Build Back Better

Despite new funding for forestry, conservation and Ag research, the American Farm Bureau Federation says President Biden’s “Build Back Better” Act is bad for rural America. Much of the concern is over tax hikes and inflation. AFBF President Zippy Duval recently wrote to House lawmakers regarding the $2 trillion prices of legislation that focuses on […]

AFBF: Increased Commodity Prices Pushing Net Farm Income Higher

For fiscal year 2021, the Department of Agriculture projects net farm income to increase $18.5 billion, 19.5% over last year’s figure. Veronica Nigh, American Farm Bureau Federation Senior Economist, said that forecast puts net farm income at the highest level since 2013. “We hit a low of $62 billion back in 2016. So, reaching $113 […]

AFBF: 4th Of July Cook Out Costs Down Slightly

Americans planning on celebrating the 4th of July holiday with a cookout will enjoy lower prices this year, compared to last. Veronica Nigh with the American Farm Bureau Federation said the average cost of a summer cookout for 10 people remains fairly affordable at $59.50. “Which is down about 16 cents from last year, and […]

Scott Wants To Know Who Is Responsible For JBS Attack

The FBI is investigating, and the Chair of the House Agriculture Committee wants to know if Russia was behind the recent ransomware attack on JBS USA. Chairman David Scott said the “cowardly hacking” of critical U.S. “food, energy, and financial systems must be stopped,” and Russia must be held “accountable” if it’s somehow involved. While […]

Cyberattacks A Focus Of Ag Industry Following JBS Attack

This week’s ransomware attack on JBS, the world’s largest meat supplier, has refocused agriculture’s attention on cybersecurity and again raised key economic issues for the Ag and food industries. USDA has contacted several major meat processors, the FBI is investigating, and President Biden has launched a “rapid strategic review.” American Farm Bureau Economist Veronica Nigh […]