Farm Progress

Midwest Digest, May 3, 2023

Max Armstrong takes a look at interest rates, the Illinois dust storm and planting costs.

May 3, 2023

Max Armstrong talks about the Illinois dust storm that has now killed seven people as a result of a massive traffic accident Monday. A dust storm warning was issued again Tuesday for the area just east of the area where the crash occurred.

What will happen with interest rates? The feds meet today to discuss what should be done. A 30-year mortgage is now sitting at a 7 percent interest rate.

And farmers know it’s an expensive year for planting, but some new figures out by the USDA show that costs were down a bit for fertilizer. In March, they were down 14 percent from 2022 and 3 percent from February. This included Urea, fertilizer, nitrogen, Pot Ash, Phosphate and mixed fertilizer. Costs were also down for diesel and LP Gas.

Plus, a Zoom meeting that showed more of a legislator than he might have wanted to show the public.

Max Armstrong's Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Max Armstrong, veteran farm broadcaster and host of This Week in Agribusiness.

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