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7 ag stories you might have missed

Collage with corn harvest, capitol building and angus beef cattle
Catch up on the midterm election's impact on ag, the November WASDE report, rail strike updates and more!

Did you miss some news this week? Read on – we’ve made it easy to catch up! Here’s a collection of the top headlines in agriculture.

Midterm elections complicate Farm Bill

After midterm elections, reaching compromises to craft the 2023 Farm Bill could be more of au challenge, two political pros say. Republicans are expected to hold a thin House majority when all the counting is finished, which means the Agriculture Committee chair will likely be current ranking member Rep. Glenn “GT” Thompson, R-Pa. Debate over the bill could also include discussion on the Farm Workforce Modernization Act, Cattle Price Discovery and Transparency Act, and the Growing Climate Solutions Act. – Farm Progress

USDA raises corn, soybean yields

The World Ag Outlook Board released the November 2022 World Agricultural Supply and Demand Estimates Wednesday. The 2022 U.S. corn and soybean crops are slightly bigger than the previous month’s estimates, but the slight yield increases are well below trendline estimates and will keep some supply tightness in the markets, says market analyst Jacqueline Holland. Read the full report recap. – Farm Futures

Rail companies, unions extend negotiation

The NCCC representing major rail companies and the International Brotherhood of Teamsters (BMWED) agreed Wednesday to extend the cooling off period originally set to expire November 19. This move pushes off a strike until at least December 4. Four major unions agreed to coordinate the date on which they could potentially go on strike. – Farm Progress

Interest rates concern ag lenders

The top concern facing agricultural lenders going into 2023 is interest rate volatility, according to the 2022 Agricultural Lender Survey report. nearly half of respondents (49.0%) ranked interest rate volatility among their top two concerns, up 35.5% points from last year. Lenders cited inflationary pressure as their number one concern for producers. – Feedstuffs

Holiday baking costs up 16.2%

Holiday baking will be more expensive this year as basics like milk, eggs, flour and sugar have all risen since last year. Some of these typical baking items are higher due to production issues caused by Mother Nature, while others are rooted in supply/demand market factors. Overall, The Oct. 13 Bureau of Labor Statistics Consumer Price Index showed the index for food at home rose 13% over the last 12 months. – Southwest Farm Press

Startup acquires Corteva’s Granular Business

Traction Ag, a cloud-based accounting software firm, will enhance its service with the farm financial management software offered in the Granular product. Granular Business is now called Traction Enterprise Operations. Despite the sale, Corteva remains invested in developing digital tools that “improve the overall value we deliver to our customers.” – Farm Progress

Increase nitrogen efficiency with tech

Intelinair and Yara North America are joining forces to use the power of each of their technologies to help growers better determine how much nitrogen should be applied. Intelinair’s AgMRI early-season analytics will automatically send farmers nitrogen updates during the growing season. Recommendations are then customized to management zones within the field. – Indiana Prairie Farmer

TAGS: USDA Business
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