Did you miss some news this week? We’ve got you covered. Here’s a collection of the top headlines in agriculture.
Fertilizer Outlook: Companies scramble to cover shrinking revenues
It’s earnings season on Wall Street, which provides a closer look at trends in the fuel and fertilizer industries. Top fertilizer companies Nutrien, CF Industries, and Mosaic released second quarter earnings results in recent days. Reports show these companies are earning less revenue due to lower fertilizer costs. Low fuel expenses have helped to stop some of the bleeding, but those days are increasingly looking to be short-lived. Jacqueline Holland explains what this means for farmers. – Farm Futures
IRS issues ruling on estate tax, capital gains
A few weeks ago, the Internal Revenue Service issued Revenue Ruling 2023-2. The ominous-sounding ruling offers up a good opportunity for a conversation on the tension that exists between estate tax planning and income tax planning. Curt Ferguson explains you must choose your poison: If your estate is going to exceed the estate tax exemptions, you might want to give the assets while you are alive. But if you do, your heirs lose the step-up with its income tax advantages. – Prairie Farmer
Purdue researchers tackle food fraud
When you shell out for artisanal food – Swiss Gruyère cheese, organic vanilla extract, Italian prosciutto – did you get what you paid for? With global food fraud estimates as high as $40 billion a year, it’s a question Purdue University researchers are tackling with a food “fingerprint” technique. The method is sensitive enough to distinguish between foods made from the same ingredients, but in different locations. Learn more! – Purdue University
Lab-grown meat startup seeks to put steak on British menus
Cultivated meat startup Aleph Farms Ltd. is seeking regulatory approval to sell its beefsteak in the UK, as it looks to scale up its business. Israel-based Aleph, backed by investors including L Catterton, DisruptAD and Cargill Inc., plans to start production in the UK in the next few years and is in talks with potential commercial partners. – Bloomberg
Bunge looks for smaller acquisitions after Viterra purchase
Bunge is looking for small acquisitions even as the company is expected to face regulatory scrutiny over its planned purchase of Viterra for $8.2 billion. The agri-trader is “finding a good pipeline of smaller bolt-on M&A” as higher interest rates push more firms to sell, CFO John Neppl said on an earnings call earlier this week. – Agriculture Dive
What drone should you start with?
With so many different styles, models and features of drones on the market, it’s hard to determine which may be the best investment. North Dakota State University Extension shares what to consider when selecting an Unmanned Aerial Vehicle for your farm, and also explains the difference between multi-rotor and fixed wing. – Dakota Farmer
And just for fun…
Celebrate National Farmers Market Week
Next week is National Farmers Market Week, an annual celebration that highlights the vital role farmers markets play in our nation’s food system. Farmers markets facilitate personal connections that benefit farmers, shoppers, and communities. By cutting out middlemen, farmers receive a larger cut of the food cost and shoppers receive the freshest and most flavorful food in their area and local economies prosper. – Farmers Market Coalition
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