USDA Lowers FY 2023 Forecast for U.S. Agricultural Exports

On Tuesday, the USDA released its Outlook for U.S. Agricultural Trade, a quarterly report from the Department’s Foreign Agricultural Service (FAS) and Economic Research Service (ERS).  Today’s update includes highlights…

Rising Cost of Credit Impacting Farmers

Earlier this week, Reuters writers P.j. Huffstutter and Bianca Flowers reported that, "Montana farmer Sarah Degn had big plans to invest the healthy profits she gleaned for her soybeans and…

Value of agricultural output in the EU up 8% in 2021

In 2021, agricultural output in the EU was valued at €449.5 billion (bn) in basic prices, representing an increase of 8% compared with 2020. This change stemmed from an increase in the price for agricultural goods and services as a whole (an estimated +7.5%), with volume of output remaining little changed from 2020 (an estimated +0.8%). This information comes from the economic accounts for agriculture (EAA) for 2021 published by Eurostat today. This news item presents a handful of findings from the more detailed Statistics Explained article. Eurostat will also publish the first estimates of the EAA for the year 2022 on 19 December 2022. Almost three quarters of the value of the EU’s agricultural output in 2021 came from seven Member States; these were France (€82.4 bn, equivalent to 18% of the EU total), Italy (€61.2 bn, or 14%), Germany (€59.2 bn, or 13%), Spain (€57.1 bn, or 13%), the Netherlands (€30.6 bn, or 7%), Poland (€27.9 bn, or 6%) and Romania (€21.1 bn, or 5%).   Source dataset: aact_eaa01   A majority of the EU Member States registered a rise in the value of agricultural output in 2021 compared with 2020. The sharpest rates of increase were recorded in Bulgaria (+37%), Romania (+25%) and Czechia (+16%). By contrast, the values of agricultural output in Finland, Malta and Cyprus remained broadly unchanged in 2021 from their respective levels in 2020, and decreased in Denmark (-2%) and Slovenia (-4%). Among other key Member States, the value of agricultural output increased by 10% in Spain, 8% in France and the Netherlands, 6% in Italy and Poland, and 3% in Germany. A little more than half (55%) of the value of the EU’s agricultural output in 2021 came from crops (€248.7 bn, +13% compared with 2020). A little more than one third (36%) came from animals and animal products (€163.1 bn, + 3% compared with 2020). The remaining share came from agricultural services and secondary activities. EU agricultural input costs not related to investment (intermediate consumption) were 10% h...

Farmers share how they're overcoming rising input costs

We asked four ISA farmer-members to weigh in on how input prices affect their business and what they expect in the future.

'Most expensive crop in decades': Farmers face higher stakes than ever with inflation

Every American household has felt the weight of inflation this year, but farmers have it worse than most as costs soar.

90 Cent Deduction Surprise - Mid-West Farm Report

Dairy farms of all sizes got some surprising news in a letter from Foremost Farms, headquartered in Baraboo. The dairy farm cooperative... Read More

Compeer Financial Podcast Archives - Brownfield Ag News

Study: $261 billion — That’s how much GMO crops have boosted farmers’ incomes

This paper updates previous estimates for the global value of using genetically modified (GM) crop technology in agriculture at the farm level. It examined impacts on yields, important variable costs of production.

Govt sets 2022-23 grain production target at 328 mt, up 4% on year

Target for winter crops output set at 164.8 MT