Latest News From Retail Business

China to Adjust Trade Tariffs Starting Jan. 1
China to Adjust Trade Tariffs Starting Jan. 1

Export tariffs on aluminum and aluminum alloys will be raised. The current import tariff will stay on seven types of coal until March 31, with tariffs adopted for most favored nations from April 1.

What's in it for Ag in the New Spending Bill?
What's in it for Ag in the New Spending Bill?

The House on Friday averted a government shutdown by voting 225 to 201 in favor of the Consolidated Appropriations Act of 2023—the omnibus spending bill. Here's what's in it for ag.

Senate Confirms Alexis Taylor as USDA Trade Under Secretary
Senate Confirms Alexis Taylor as USDA Trade Under Secretary

The Senate on Wednesday confirmed Alexis Taylor for Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs. According to Taylor, her priorities include addressing export markets and food insecurity.

USMCA as a Framework: New Talks Between U.S., Ecuador, Uruguay
USMCA as a Framework: New Talks Between U.S., Ecuador, Uruguay

Government officials asked U.S. Trade Rep. Katherine Tai to capitalize on the success of the USMCA and expand relations in the Western Hemisphere. 

How the $1.7 Trillion Omnibus Spending Package Might Impact Your Operation
How the $1.7 Trillion Omnibus Spending Package Might Impact Your Operation

Text of the $1.7 trillion omnibus spending package was released early Tuesday morning. The Senate will vote first and intends to pass the measure before Thursday, leaving the House no time to demand changes.

Water Resources Bill Reauthorized with a Component that Will Impact Producers
Water Resources Bill Reauthorized with a Component that Will Impact Producers

The Fertilizer Institute applauded the passage of the legislation, which it dubbed an “integral” component of the fertilizer distribution system.

Foreign Land Ownership Debate Renewed As Chinese Agribusiness Allowed to Buy North Dakota Land for Corn Processing Plant
Foreign Land Ownership Debate Renewed As Chinese Agribusiness Allowed to Buy North Dakota Land for Corn Processing Plant

Fufeng USA is purchasing 370 acres in Grand Forks to build a $700 million project. A government review didn't raise enough red flags to block the proposal, which has refueled the debate about foreign land ownership.

 European Union Clinches a Deal on a Carbon Border Tax
European Union Clinches a Deal on a Carbon Border Tax

Members of the bloc agreed on how to create a tool that will force foreign companies to pay for the cost of their carbon emissions.

$100 an Acre Herbicide Costs Won't be Unusual Next Season
$100 an Acre Herbicide Costs Won't be Unusual Next Season

On the low end, expect to invest at least $50 an acre in the Midwest and $85 in the South for products. Some corn and soybean farmers are evaluating adjuvants and management practices that could help trim expenses.

Shippers Note ‘Notoriously Difficult’ Railroads During Latest Hearing
Shippers Note ‘Notoriously Difficult’ Railroads During Latest Hearing

Shippers urged the U.S. railroad regulator to create more competition in the industry during hearings in which Union Pacific was called to explain a spike in service restrictions.

fertilizer
Nutrien Expects 'normal' Fertilizer Prices in 2023

After a year of price volatility for agricultural inputs, 2023 is set to be a “normal” year for fertilizer and pesticide costs. . .

Ken Ferrie: Using Urea for N or Going Corn-on-Corn in 2023? Read this First
Ken Ferrie: Using Urea for N or Going Corn-on-Corn in 2023? Read this First

Urea can be used to replace part of your spring N needs, but there are risks to be aware of and evaluate before you decide to go with it. The same is true for a mono-crop, especially if you choose continuous corn.

The Ag Analyst’s Briefing: Week of Dec. 12 Watchlist
The Ag Analyst’s Briefing: Week of Dec. 12 Watchlist

In the Agri-food Executive Briefing for the week, seven items are highlighted on the watchlist.

Research in Ag-Tech Top-Of-Mind in Farm Bill Hearing
Research in Ag-Tech Top-Of-Mind in Farm Bill Hearing

“We rely on the support of farm bill funding and programs to ensure continued U.S. leadership as the provider of the best seed to the world," said Katy Rainey, Purdue associate professor, at the Senate Ag hearing.

USDA Only Adjusts U.S. Corn Ending Stock in WASDE, Punts on South American Corn and Beans
USDA Only Adjusts U.S. Corn Ending Stock in WASDE, Punts on South American Corn and Beans

Grains mixed after WASDE. The only change USDA made to U.S. ending stocks was in corn by lowering exports. Brian Splitt of AgMarket.Net has analysis.  

Mexico Signals New Decree is Coming for GMO Corn Imports
Mexico Signals New Decree is Coming for GMO Corn Imports

Mexican Secretary of Economy Raquel Buenrostro told reporters in Mexico Wednesday the decree to bar imports of GMO crops into Mexico will be pushed back to 2025.

Corn Yield Losses to ‘Edge Effect’ Elevated by Contrary Micro-Climate and Weather Patterns
Corn Yield Losses to ‘Edge Effect’ Elevated by Contrary Micro-Climate and Weather Patterns

Iowa State Extension agronomists say there are at least two strategies farmers can consider using in 2023 to address this phenomenon, especially if they expect to be hit by hot, dry weather conditions again next summer.

Survey Results: Ag Lenders Share Profitability Forecasts, Top Concerns and More
Survey Results: Ag Lenders Share Profitability Forecasts, Top Concerns and More

In just a few years the farm financial pendulum swung from shaky to stable, according to the 2022 Agricultural Lender Survey report by the American Bankers Association and Farmer Mac.

U.S./EU Spark a Trade Spat Over Limitations in the Inflation Reduction Act
U.S./EU Spark a Trade Spat Over Limitations in the Inflation Reduction Act

Europeans argue that the act is a beggar-thy-neighbor scheme designed to lure investors away from Europe, just as the region's economy teeters on the verge of recession.

Marion Ag Service Named ARA Retailer of the Year
Marion Ag Service Named ARA Retailer of the Year

Known for the team's incredible caliber of customer service and integrity, Marion Ag Service empowers its grower customers to thrive.

Biden to Call on Congress to Intervene in Rail Labor Dispute
Biden to Call on Congress to Intervene in Rail Labor Dispute

With less than two weeks from a railroad strike deadline, President Biden plans to call on Congress to take action to avert a shutdown of the country’s freight railroads. . .

Humility, The Sire Of All Virtue
Humility, The Sire Of All Virtue

How it can turn around a company and accelerate innovation

Ag Retail's Value Proposition: There’s No Easy Button
Ag Retail's Value Proposition: There’s No Easy Button

Industry consultant Brad Oelmann, president at Farrell Growth Group, encourages ag retailers to stay true to their value propositions. 

Airplane
Chinese Delegates Meet with Top U.S. Officials in New York

China moved to close parks, malls and museums on Tues. as COVID-19 cases hit near-record levels. Lockdowns follow reports that, days before COP27, Xi sent policy and business advisers to New York to meet U.S. executives.

J.R. Simplot Company Acquires G-Mac’s AgTeam of Western Canada
J.R. Simplot Company Acquires G-Mac’s AgTeam of Western Canada

G-Mac’s AgTeam has 15 retail stores that will now be Simplot Grower Solutions locations.

Cargill CEO: Doesn’t Have to be Food vs. Fuel
Cargill CEO: Doesn’t Have to be Food vs. Fuel

Food prices will probably decline next year, even as global crop stockpiles stay very tight, especially for oilseeds, said David MacLennan, CEO of Cargill.

C-Suite: Accelerated Connections Via Smartwyre
C-Suite: Accelerated Connections Via Smartwyre

For the past four years, John Brubaker has led software company Smartwyre to exclusively serve Ag retail, distribution and manufacturers. He says the simple goal is to connect businesses with the information they need.

C-Suite: Vern Hawkins with Syngenta Crop Protection
C-Suite: Vern Hawkins with Syngenta Crop Protection

The Scoop caught up with Hawkins during a recent Syngenta Media Summit. Here is a report from our conversation with him.

Black Sea Grain Initiative Extended:  What Does it Mean for U.S. Exports?
Black Sea Grain Initiative Extended: What Does it Mean for U.S. Exports?

The Black Sea Grain Initiative has been extended for 120 days from Nov. 18, without any changes. The deal is bearish for U.S. corn and wheat exports, which are already lagging. 

Ferrie: It’s Go-Time for Hybrid Selections and Anhydrous Applications
Ferrie: It’s Go-Time for Hybrid Selections and Anhydrous Applications

Farmers are asking, ‘Do I chisel first and then apply anhydrous? Or will I get better results doing the opposite?’ Get Ferrie’s answer and his insights on addressing hybrid weaknesses to harvest more corn in 2023.

bank-hastings
Rural Bankers Share Predictions on Farmland Values, Recession and the Economy

For a sixth consecutive month, the rural economy has posted signs of weakness. That’s according to the Rural Mainstreet Index (RMI) from Creighton University.

Inflation Report Signals a Smaller Rate Increase likely in December
Inflation Report Signals a Smaller Rate Increase likely in December

Experts say the Fed is looking for signs of weakness in the economy before deciding interest rates have been raised sufficiently to curb inflation. Some signs are available now, says Vince Malanga, LaSalle Economics.

Amazon Settles for Nearly $5 Million in California Pesticide Case
Amazon Settles for Nearly $5 Million in California Pesticide Case

Violations included Amazon selling unregistered pesticides in California, failing to report and pay required mill assessment fees, and failing to hold a valid pesticide broker’s license.

Real Risk: Could Rising Rates Be The End Of The Road For The Country Banker?
Real Risk: Could Rising Rates Be The End Of The Road For The Country Banker?

This rate hike was the sixth increase this year, and based on Fed chairman Jerome Powell’s comments following the November meeting, this interest rate rocket ship will continue to gain altitude.

$30,000 Per Acre? Yep, The Details on the Latest Record-Breaking Farmland Sale
$30,000 Per Acre? Yep, The Details on the Latest Record-Breaking Farmland Sale

Not to sound like a broken record, but we have another record for farmland sales. In Sioux County, Iowa, 73.19 acres of high-quality farmland sold for $30,000 per acre during an auction on Nov. 11.

Chaos and Risk Present Opportunities
Chaos and Risk Present Opportunities

The top three trends impacting ag retailers are: economic uncertainty, volatility and labor challenges says Ken Zuckerberg, CoBank agribusiness analyst.

With Soybean Planting Populations, How Low Can You Go?
With Soybean Planting Populations, How Low Can You Go?

Highly productive areas with adequate soil moisture are where you can usually trim seeding populations, says Matt Duesterhaus, Crop-Tech Consulting agronomist. He offers seven additional recommendations.

Recession or Not: The Consumer Has Reached Their Breaking Point
Recession or Not: The Consumer Has Reached Their Breaking Point

The consumer no longer can absorb higher costs. Tanner Ehmke with CoBank says that lighter foot traffic is seen in some grocery stores, while discount retailers have seen a significant increase in foot traffic.

USDA to Address ‘Soybeans of Other Colors’ Issue, Grading Standards
USDA to Address ‘Soybeans of Other Colors’ Issue, Grading Standards

The USDA Agricultural Marketing Service announces the Federal Grain and Inspection Service will publish a proposed rule seeking public comment on whether to make changes to U.S. grading standards for soybeans.

Agronomic Phenomenon in Corn Strikes Outer Rows of Fields, Strips Yield
Agronomic Phenomenon in Corn Strikes Outer Rows of Fields, Strips Yield

Some Iowa growers saw huge yield losses this season from a so-called edge effect. Illinois farmers also report seeing it ding yields. Agronomists are working to confirm contributing factors but haven't nailed them down.

Cotton Market Has Largest Weekly Gain In 12 Years — Is the Bottom In?
Cotton Market Has Largest Weekly Gain In 12 Years — Is the Bottom In?

The cotton market hit a two-year low on Monday, Oct. 31, but the market ended 1,494 points higher for the week, up 21%.   

China Cites U.S. Ag for Why It's Chosen Not to Invade Taiwan
China Cites U.S. Ag for Why It's Chosen Not to Invade Taiwan

“In the last 2,500 years, every Chinese government that has fallen, has fallen over food,” says Kuehl, Armada chief economist. “They need those import markets—be it from the U.S, Canada, Brazil or Australia."

Ferrie: Do Fall Tillage if Fields are Dry, Consider No-Till Corn and Soybeans for 2023
Ferrie: Do Fall Tillage if Fields are Dry, Consider No-Till Corn and Soybeans for 2023

If conditions are good in your area, you won’t have wheel tracks or ruts to deal with. However, you do need to think about a winter burndown to keep fields clean before planting next spring.

Trade Tiff Brewing Between U.S. and Mexico Over Ban on GMO Corn
Trade Tiff Brewing Between U.S. and Mexico Over Ban on GMO Corn

Mexico has confirmed that the country does not plan to amend its ban on imports of GMO that is set to start in 2024.  

Five-Year Trends of  How Farmers Buy Online
Five-Year Trends of How Farmers Buy Online

Last year’s data showed a flat trend of the percent of farmers who buy any of their crop inputs online, but this year’s study (conducted in October) showed one of the biggest jumps yet.

Is the U.S. Now Officially in a Recession?
Is the U.S. Now Officially in a Recession?

Friday brought mixed news for the economy. So, is the U.S. officially in a recession? K-State economists say it's more important to watch changes in behaviors versus debating the definition of recession.

Get Your Head Into The Clouds
Get Your Head Into The Clouds

You can do a handful of things to greatly improve your odds of “getting all you can out of all you’ve got.” 

The Numbers Look Great... But Is It On The Surface Or Sustainable?
The Numbers Look Great... But Is It On The Surface Or Sustainable?

A rising tide of unique market circumstances may mask key business differentiators.

New Weed Species Confirmed in Iowa Fields a Second Time
New Weed Species Confirmed in Iowa Fields a Second Time

Asian copperleaf was found in an Iowa soybean field this summer. Agronomists are evaluating how much of a concern the weed poses to row crops there. It has been confirmed in only one other U.S. location: New York City.

Ag Bankers Pessimistic About Rural Economy Moving Into Recession in 2023:  Lowest Confidence Since May 2020
Ag Bankers Pessimistic About Rural Economy Moving Into Recession in 2023: Lowest Confidence Since May 2020

The October Creighton University Rural Mainstreet Index survey shows ag bankers are concerned about economic downturn in 2023.