Evening Edition | Friday, May 20, 2022
In tonight’s evening edition, read about farmland values, drought conditions across the Corn Belt, and John Deere’s agreement to sell a revolutionary baler.
A Federal Reserve report this week stated, "Similar to the previous quarter, the value of nonirrigated cropland rose by more than 20% from a year ago in Federal Reserve Districts with a large agricultural concentration."
The report, based on surveys of ag bankers, said the increases were particularly large in Kanas, Iowa, and three Rocky Mountain states. Land values soared 29% in Kansas, 28% in Iowa, and 32% in Colorado, Wyoming, and northern New Mexico.
Drought Conditions and Planting Progress
Editor Madelyn Ostendorf reports on the precipitation and suitable days for fieldwork across the Corn Belt.
In particular, in South Dakota, drought conditions intensified in the past week. Five counties in the center of the state are experiencing extreme conditions, accounting for 4% of the state. Eleven counties in the center and 12 in the southeast corner reported severe conditions, which is 19% of South Dakota. Overall, 73% is abnormally dry or worse.
New Baler Design
Editor Alex Gray reports on John Deere's agreement with Twin Pak owners Mike and Jason Grady to sell their revolutionary baler design.
While John Deere already has a fairly robust selection of balers in their line-up, the Grady Twin Pak will compliment their existing line.
The Twin Pak is a three-string baler with patented-technology allowing it to pack up to two square bales of hay at the same time. It can pack bales between 90 to 120 pounds, filling a gap in Deere’s current baler offering.