What is today's news? | Tuesday, March 1, 2022
As the week marches on, be sure to catch up on the latest news. From crop insurance to food industry consolidation, these are today's headlines.
Crops and Livestock News
Crop insurance policies that guarantee prices for the 2022 growing season are the highest on record for soybeans and the highest in 11 years for corn and spring wheat, reflecting market demand for crops given a drought-hit South American harvest and Russia's attack on Ukraine, a key grain exporter and analysts say.
The Department of Agriculture sets the guarantees, which act as a floor price below which farmers with insurance can receive payments, at $14.33 per bushel for soybeans and $5.90 a bushel for corn across most of the U.S. crop belt.
The pandemeic's supply chain woes reveal to Americans a fact long known to farmers: Shared monopolies dominate the food industry. Beef packing is among the most concentrated. The top four firms slaughter 85% of all steers and heifers.
While inflation surged 7% last year, shoppers paid 23% more for steaks. Yet, fed steer prices sank to a 10-year low in 2020, finally recovering a bit as 2022 began.
Heading into the 2022 growing season, farmers are faced with a host of worrisome challenges for weed control options.
Shortages of herbicide products – and record high prices for what is available – plus the ever-present prospect of off-target dicamba movement are among those that vex Kevin Bradley, Extension weed specialist at the University of Missouri.
- READ MORE: Three hot topics for 2022 weed control
Chad Henderson and Lee Lubbers from the XtremeAg team check in with updates from their farms this week. Henderson finds more farmable acres on his existing land, while Lubbers hopes his existing acres are farmable come springtime.
- READ MORE: Maximizing farmable acreage this spring
Precision Planting unveiled Symphony sprayer nozzle technology at their 2022 Winter Conference.
In this video, marketing manager Bryce Baker explains the new technology from their booth at the National Farm Machinery Show in Louisville, Kentucky.
A new option that allows growers to connect their FieldView account to automatically create activities in FarmLogs is now available.
By enabling this capability, growers can seamlessly transfer field work captured by Climate FieldView Drive, and other methods supported by FieldView.
This connection can reduce the amount of time entering data, keep accurate records across systems, automatically calculate cost of production, and more easily determine a farm’s profit and loss down to the acre.