Content ID

330276

Evening Edition | Wednesday, July 6, 2022

In tonight's Evening Edition, catch up on the latest news about industry inflation, a carbon pipeline in Iowa, and declining Ukraine grain exports.

High Prices

Editor Gil Gullickson writes, "The price farmers pay for 2023 seed will be higher than in past years. Here are some ideas how to navigate seed buying in an inflationary atmosphere."

There are 13 factors to consider, including the return per acre of corn, genetics, early-order discounts, and more.

Biofuels are far more responsible for high vegetable oil prices than Russia’s invasion of Ukraine, said agricultural economist Aaron Smith of the University of California-Davis.

Industry demand will push prices higher, reports Chuck Abbott.

Government policies such as the $1-a-gallon tax credit for biomass-based diesel and mandates such as the federal Renewable Fuel Standard and California’s low-carbon fuel standard encourage use of biomass-based diesel.

Seven out of every 10 large-scale farmers and ranchers expect high inflation to persist into 2023 and 51% anticipate their operations will be worse off financially next summer than they are now, said Purdue University on Tuesday.

Its Ag Economy Barometer, a monthly gauge of farmer confidence, fell to its second-lowest level since October 2016.

Some 51% of participants in the Purdue survey said they expected their farms to be worse off financially a year from now, “the most negative response received to this question since data collection began in 2015.”

Carbon Pipeline

A proposed pipeline that would transport liquid carbon dioxide from ethanol plants in Cedar Rapids and Clinton would span about 90 miles in up to five eastern Iowa counties, according to a preliminary map of the project.

Wolf Carbon Solutions, a Canadian company that has operated one of North America’s largest carbon pipelines, wants to hold public meetings in September in the affected counties.

Jared Strong with the Iowa Capital Dispatch reports that this is the first step to gaining approval from the Iowa Utilities Board to construct the pipeline.

Ukraine Grain Exports

Ukraine's grain exports plunged 68.5% year-on-year to 163,000 tonnes in the first six days of July, the first month of the new 2022/23 season, the agriculture ministry said on Wednesday.

Ukraine's grain exports have slumped since the start of the war as its Black Sea ports - the key route for shipments - have been largely closed off, driving up global food prices and prompting fears of shortages in Africa and the Middle East.

The ministry data showed the exports in July included 128,000 tonnes of corn, 24,000 tonnes of wheat and 10,000 tonnes of barley.

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