Decline in corn-soybean-cotton production and increase in organic farming trade

Decline in corn-soybean-cotton production and increase in organic farming trade

From the Ag Information Network, I’m Bob Larson with your agribusiness update.

** Corn, soybean and cotton production are down from last year, according to the USDA’s National Agricultural Statistics Service.

Corn production is down 8% from last year, forecast at 13.9 billion bushels, while soybean producers are expected to cut production by 1%, to 4.38 billion bushels.

Cotton production is down 21% from 2021 to 13.8 million 480-pound bales.

Meanwhile, the USDA’s Global Agricultural Supply and Demand Report lifted the price of corn by ten cents to $6.75 a bushel.

**General Secretary Tom Vilsack announced that the USDA is accepting applications for loans and grants from the ReConnect program to extend high-speed Internet access to millions of rural Americans.

The agency is making more than $1 billion available with the goal of connecting every American to affordable and reliable high-speed Internet.

The USDA is accepting applications for loans with available funds of $150 million, grants with available funds of $700 million, and combined loan/grant awards using $300 million.

The application deadline is November 2.

** The USDA Economic Research Service reports that organic trade reached $3.4 billion in 2021.

Since 2011, the total value of imported organic products has increased, in part because more products are being tracked and because more high-value organic products, such as blueberries and squash, are being imported.

The United States also exports organic food, and these exports have been growing steadily since 2011, reaching $0.7 billion in 2021.

Comments are closed.