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Evening Edition | Friday, May 13, 2022

In tonight’s evening edition, read the latest about farmland values, global wheat stockpiles, and the report on meatpacking operations during the pandemic.

Land Values

Editor Bill Spiegel reports the soaring value of land in Illinois, Indiana, Iowa, Michigan, and Wisconsin between April 2021-April 2022.

Momentum is expected to continue, says David Oppedahl, senior business economist at the Chicago Federal Reserve, who authored the May Ag Letter report.

The data comes from survey responses from agricultural bankers in this region, which makes up the Seventh Federal Reserve District.

Global Wheat

Aided by one of its largest crops ever, Russia will again be the world’s largest wheat exporter in the year ahead while neighboring Ukraine will ship only half as much wheat as this year, the result of the invasion by Russia, said the Agriculture Department on Thursday.

“Russia is projected as the leading 2022/23 wheat exporter at 39 million tonnes, followed by the European Union, Australia, Canada and the United States,” said the monthly WASDE report.

Meatpacking Industry

Facing pressure from local health officials over conditions in their plants, meatpacking companies “drafted and pitched an executive order to the Trump White House” to keep slaughterhouses open during the first months of the COVID-19 pandemic, said a congressional staff report on Thursday.

When President Trump issued an order that adopted the industry position, meatpackers exaggerated its scope.

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