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Farmers Get a Smaller Slice of the Fourth of July Food Dollar

A distressing reality plagues farmers across the United States as the National Farmers Union (NFU) reveals the shocking statistics of the 2023 Farmer's Share of the Fourth of July food dollar. The findings paint a grim picture of the ongoing decline in farmers' earnings, highlighting an unfair landscape that leaves them with a diminishing share of the consumer dollar.  

NFU President Rob Larew expressed deep concern, attributing this alarming trend to the dominance of highly consolidated meatpacking companies and harmful mergers within the grocery sector, ultimately depriving farmers and consumers of their hard-earned money. 

Last year, the United States Department of Agriculture (USDA) marked a historic low as the farmer's share of the food dollar dwindled to a mere 14.5 cents for every dollar spent. President Larew emphasized that this dire situation can be changed.  

Through their impactful Fairness for Farmers campaign, NFU is tirelessly advocating for a transformative 2023 Farm Bill that prioritizes fairer and more competitive markets, ensuring just compensation for farmers while benefiting consumers. 

The figures released by NFU unveil the striking disparities between retail prices and the meager shares received by farmers for various Fourth of July food items. From $3.49 spent on 8-count hamburger buns, farmers receive a mere $0.10. Likewise, a $11.07 purchase of 2 pounds of ground beef leaves farmers with a share of only $3.42. The imbalance continues with tomatoes, lettuce, party-size potato chips, and soda, where farmers' shares represent a fraction of the retail prices. 

These disheartening revelations shed light on the urgent need to address the prevailing inequities within the food system. The call for a comprehensive 2023 Farm Bill, aimed at rectifying market imbalances and fostering fairness, resonates with the pressing need to uplift farmers and promote consumer awareness. It is through concerted efforts that a more equitable and sustainable future can be secured for farmers and consumers alike. 

Source : wisconsinagconnection

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Agricultural Market Update: Grain Prices, Crop Conditions, and Weather Impacts

Welcome back to our channel where we provide comprehensive updates on the latest trends and changes in the agricultural sector. This week, we're looking at significant movements in grain prices, crop conditions, and the effects of weather patterns. Let's dive into the details:

Grain Price Decline Grain prices have fallen to their lowest levels since 2020, with December corn down 4.3% and November soybeans losing 3.1%. This decline is partly due to the beneficial moisture brought by Hurricane Beryl to the Midwest, which has improved crop conditions significantly. The USDA reported that corn and soybean crops are in their best condition in four years, contributing to the downward pressure on prices.

Record Short Positions and Market Sentiment Fund traders have increased their net short positions in the corn market to a record level, with a net short of 347,000 contracts of corn. This reflects a bearish sentiment in the market, further influencing grain price dynamics. Similar selling trends were observed in soybeans and SRW wheat, indicating broad market caution.

Weather Impact and Forecast Hurricane Beryl has brought significant rainfall across Arkansas, Missouri, western Tennessee, western Kentucky, and southern Illinois, with more expected over Missouri, Illinois, and Indiana in the coming days. Despite this, the market is currently more focused on the moisture benefits rather than potential heat risks forecasted in the 6-10 and 8-14 day periods.

US Crop Conditions Corn and soybean conditions have shown slight improvements last week, with corn rated 68% good to excellent and soybeans at 68%. These are among the best ratings for this time of year since 2020, suggesting robust crop health that could continue to influence grain prices.

Winter Wheat Harvest and Spring Wheat Conditions The US winter wheat harvest is progressing well, ahead of schedule with significant portions already harvested in Kansas and Texas. Spring wheat conditions are also favorable, with 75% rated good to excellent, although there have been some declines in states like Idaho, South Dakota, and Washington. Brazil's Corn Harvest and US Exports Brazil's second corn crop harvest is advancing rapidly due to favorable hot and dry conditions, with 63% of the crop already harvested. Meanwhile, US corn shipments saw a substantial increase last week, indicating strong export demand, which contrasts with the recent drop in domestic grain prices.

Ongoing Developments Lastly, the USDA reported a flash sale of corn, with significant quantities sold to unknown destinations, scheduled for delivery over the next two marketing years. This could signal ongoing international demand for US corn despite lower prices.

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