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7 ag stories you can’t miss – May 12, 2023

Catch up on the Supreme Court’s Prop 12 ruling, Black Sea grain deal negotiations, a Texas cattle feeding Ponzi scheme and more!

Rachel Schutte

May 12, 2023

2 Min Read
wheat field, capitol building and cattle
Getty Images

Did you miss some news this week? We’ve got you covered. Here’s a collection of the top headlines in agriculture.

Supreme Court upholds Prop 12

The U.S Supreme Court rejected an appeal on Thursday by the National Pork Producers Council and American Farm Bureau Federation challenging California’s controversial Proposition 12. The law requires pork sold in California to Various agriculture groups, food and beverage industry advocates, and President Biden have all stated their opposition to the law. – Farm Progress

Russia threatens to end grain deal

The latest talks on extending Ukraine’s grain export deal ended this week without a definitive agreement, with Russia reiterating its threat to withdraw from the pact May 18. Russia says it will end the deal unless its demands for progress toward removing obstacles on its own food and fertilizer shipments are met. Negotiations will continue online. – Bloomberg

2023 World Food Prize Laureate announced

Heidi Kühn, a humanitarian who has spent more than 25 years restoring agriculture in former conflict zones, has been named the 2023 World Food Prize Laureate. Kühn founded the nonprofit Roots of Peace in 1997 to replace the remnants of war with farmland. The organization train farmers in modern agricultural practices, from planting and harvesting to marketing. – Farm Progress

The 2 biggest paybacks in farming

What are the best investments in farming that could net the largest returns over time? Crop consultant Greg Kneubuhler knows how he would answer. “The two best payoffs in farming for most people today are in plastic and steel,” he says. See what he’s talking about. – Indiana Prairie Farmer

Farm real estate debt hits record high

Farm-sector debt tied to real estate is expected to be at a record $375.9 billion in 2023, according to data from USDA – up 87.5% in the last 14 years. Historically, real estate debt and non-real estate debt have trended similarly, but they have diverged in recent years. Here’s why. – Kansas Farmer

Texas cattle feeding Ponzi scheme exposed

Three individuals have reportedly committed suicide in connection with a $150-million-plus ghost cattle feeding Ponzi scheme that was recently exposed. Rabo AgriFinance filed a lawsuit April 25 against McClain Farms and associated businesses that revealed over $51 million was owed. USDA urges individuals involved to file Dealer Trust claims immediately. – BEEF

Purdue receives grant for AI Institute

Purdue University received a five-year, $500,000 grant to play a role in the new $20 million AI Institute for Climate-Land Interactions, Mitigation, Adaptation, Tradeoffs and Economy (AI-CLIMATE). The institute is one of seven new AI Institutes working to improve the accuracy and lower the cost of accounting for carbon and greenhouse gases in farms and forests. – Purdue University

About the Author(s)

Rachel Schutte

Content Producer, Farm Futures

Rachel grew up in central Wisconsin and earned a B.S. in soil and crop science from the University of Wisconsin - Platteville. Before joining the Farm Futures team, Rachel spent time in the field as an agronomist before transitioning to the world of marketing and communications. She now resides in northeast Iowa where she enjoys raising bottle calves and farming corn and soybeans alongside her husband and his family.

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