Farm real estate values jump sharply higher

IARN — The Federal Reserve Survey of Agricultural Credit Conditions shows that farmland values rose in the third quarter of this year. The value of non-irrigated cropland rose by at least 12 percent in all of the participating Districts in the survey. The rapid increase was consistent in most states, with annual increases of more than 20 percent in some areas. Read more

USDA cuts ag export forecast for 2022

IARN — The USDA cut its farm exports forecast in 2022, blaming weaker soybean demand from China and lower soybean prices. The Economic Research Service says it now expects American ag exports to hit $175.5 billion in the fiscal year 2022, down from the August forecast of $2 billion. The agency says soybean exports will be down $3.9 billion next year for a total of $28.4 billion. Soybean meal exports were forecast to slump by $800 million to $4.9 billion due to lower prices. Read more