Ranchers recover from the historic blizzard, FBI warns of ransomware attacks, and ADM, Bunge see strong profit outlooks.
USDA announces international food aid
The world is suffering from historic levels of global food insecurity. USDA and the U.S. Agency for International Development are providing $670 million in food assistance to countries in need as a result of Russia’s invasion of Ukraine. The funds will procure food commodities and cover transportation to six countries facing severe food insecurity: Ethiopia, Kenya, Somalia, Sudan, South Sudan and Yemen. – Farm Progress
Planting season still faces weather hurdles
Farmers are eager to begin the 2022 growing season but Mother Nature is not cooperating so far this spring. Much of the Midwest continues to endure cool and wet weather that has dashed any hopes of early planting progress. Farther west, overly dry conditions are turning into a multiyear problem. So, who bears the biggest planting risks? – Farm Futures
ADM, Bunge see strong profit outlook
On Tuesday, ADM said strong crop processing margins and higher demand from importers propelled its first-quarter earnings beat, adding that 2022 profit would top its record performance last year. Bunge Ltd on Wednesday reported a higher quarterly adjusted profit and raised its full-year earnings forecast by 21% on robust demand and tighter supplies of essential crops. – Reuters
Ranchers recover from historic blizzard
During a mid-April blizzard, parts of North and South Dakota were hit hard with snow anywhere from 5 to 50 inches. Many ranchers experienced this blizzard in the height of their calving season, adding an extra layer of difficulty to an already challenging season. After the blizzard and cleanup, maintaining the animals’ health now takes precedence. – Dakota Farmer
USDA ratchets up food-price forecasts
Prepare for your grocery bill to creep even higher. Overall, the agency now expects food prices to rise 5% to 6% this year – at least double the forecast of about 2.5% three months ago. Categories with big increases compared with the last outlook are eggs, poultry, cereal and bakery, fresh fruits, vegetables and beef. A year ago, the USDA forecast little inflation or even price drops, for many food groups. – Bloomberg
Ammonium sulfate boosts soybean yield
Farmer Marc Kaiser has found success applying ammonium sulfate to his soybeans. Farmers typically consider ammonium sulfate a corn input, providing 21 pounds of nitrogen and 24 pounds of sulfur. However, after two years of on-farm testing, the Missouri farmer found that putting nitrogen and sulfur in the right place at the right time brings about yield and profitability — to the tune of $80 per acre. – Missouri Ruralist
FBI warns of ransomware attacks
The FBI issued a notice informing food and agriculture sectors that ransomware attacks on agricultural cooperatives are more likely during critical planting and harvest seasons. The attacks can disrupt operations, cause financial loss, and natively impact the supply chain. The FBI provides recommendations, including backing up data, protecting passwords, and implementing a recovery plan. – Federal Bureau of Investigation
