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November 11, 2024

Donald Trump wins 2nd term in historic return to White House

From ABC News


Former President Donald Trump won the presidential race, defeating Vice President Kamala Harris in a frenzied contest to stage an improbable historic comeback.



Full story.

Republicans claim Senate majority outright

From Roll Call



Senate Republicans have claimed the majority in the 119th Congress.

Gov. Jim Justice, R-W.Va., quickly flipped the Mountain State’s Senate seat Tuesday night, putting the Democrats’ current 51-49 margin in jeopardy and making it so only one more Senate pickup would put Republicans in the driver’s seat starting in January.


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2024 Election results: What's next for ag retail?

From Agricultural Retailers Association


What is next for ag retailers now that Donald Trump is the President-elect and Republicans have taken Senate control? Richard Gupton and Hunter Carpenter of the ARA public policy team share top takeaways for the agricultural retail industry.



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Control of Minnesota House remains uncertain; no surprises in Minnesota congressional races

From MPR News


The Minnesota Senate will stay in DFL control, while the outcome for the state House of Representatives remained uncertain Wednesday morning — with the potential for a 67-67 tie.


Control of the Senate hinged on the outcome of a single special election Tuesday, in District 45 in the western Twin Cities metro area. Former DFL state Sen. Ann Johnson Stewart defeated Republican Kathleen Fowke with 52 percent of the vote, to maintain DFL control of the seat and the Senate. The chamber had been tied 33-33 after former Democratic state Sen. Kelly Morrison stepped down earlier this year to run for Congress.



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Election results analysis from Morning Take


Republicans were campaigning on divided government, and now we have a tie in the Minnesota House. Republicans picked up 3 seats in Greater Minnesota, and DFLers barely held on to seats in more ex-urban areas


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MN State Elections: 1 big thing: Closely divided government ahead

From Axios


Preliminary results show Republicans picking up enough seats in the House to block the DFL from another two years of full control.

  • They appeared to hold all their vulnerable districts and flip at least three currently held by Democrats, despite being outspent by DFL-allied groups.



Full story.

Some optimism remains for farm bill to get to finish line in 2024

From Brownfield


There is still some optimism that Congress can pass a farm bill before the end of the year.


Congressman Mike Flood of Nebraska tells Brownfield…

“Hopefully we can act on it in the lame duck. If not, let’s get an extension, let’s provide some relief, just take the anxiety off the table and then get this done as soon as we can in January, February.”



Full story.

Washington insiders weigh in on what the election means for agriculture

From The Scoop



Donald Trump secured a second term in the White House after wins in key battleground states over Democratic challenger vice president Kamala Harris.

President-elect Trump garnered even stronger support in rural America this time around than in 2016.


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Three farmers sound off on their ideal retailer

From The Scoop


During a panel discussion hosted by The Mosaic Company in Champaign, Illinois, earlier this fall, three farmers from the Midwest were asked to dream up their ideal retailer. They shared what qualities they seek in a retail relationship and what would encourage them to do more business with that person.


These farmers place the greatest priority on someone who can prove they care about what’s best for their operation.


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A possible recession still hangs over the ag economy, but positive shifts are starting to surface

From The Scoop


In September, 75 percent of ag economists warned of an impending agricultural recession. October brought slight optimism to the Ag Economists’ Monthly Monitor, attributed to rising U.S. corn export demand and forecasts about cattle herd rebuilding. Yet, economists remain cautious about the potential impact of the upcoming election.



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Mosaic, Nutrien surge as Belarus president said to propose cutting potash output

From Seeking Alpha


Fertilizer producers Mosaic +7.8%, topping the S&P 500 leaderboard, and Nutrien 5.1% in early trading Monday after Belarus President Alexander Lukashenko proposed approaching Russian fertilizer makers to coordinate a 10% cut in potash production to boost the product's market price, Bloomberg reported.


Full story.

B.C. ports are frozen amid a labour dispute. What does this mean for Canadians? 

From CBC


A major trade artery was shut down on Monday when employers locked out more than 700 foremen at ports across British Columbia, sparking fears across the country for Canada's supply chain.



With a partial closure already affecting two terminals at the Port of Montreal due to a separate labour dispute, this new stoppage could see more shipping backlogs for businesses as the window closes on importing goods for the holiday season.


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Harvest prices for crop insurance plunge: What does it mean for producers?

From The Scoop


The Risk Management Agency just released official harvest prices for federal crop insurance, and it’s not good news for farmers.


Harvest price is based on the average price during October. This year, those numbers are well below 2023 and the base prices set in February.



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CHS facing competition for its $200M offer to buy West Central cooperative

From Minnesota Star Tribune


A Minnesota cooperative is considering a new acquisition offer ahead of voting on a $200 million takeover bid from CHS.


North Dakota-based Arthur Cos. is offering $250 million for West Central Ag Services, headquartered in Ulen, Minn. The private company recently publicized its pitch to the cooperative online with what it calls a “superior” deal.


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Corteva reports larger-than-expected loss, cuts full-year sales outlook

From Yahoo


U.S. agrichemicals firm Corteva reported a larger-than-expected loss on Wednesday, hurt by lower sales and prices, leading the company to cut its full-year sales outlook and sending its shares down over 10% after market close.


A decline in agricultural commodity prices has forced many farmers to rein in their spending on crop chemicals, hurting companies such as Corteva which makes pesticides and insecticide.


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Moorhead lands $5B sustainable jet fuel plant and its 650 jobs

From Minnesota Star Tribune


A $5 billion facility to manufacture jet fuel for airplanes is coming to Moorhead.

DG Fuels, a Washington D.C.-based energy company, announced it’s putting a sustainable aviation fuel (SAF) plant in Clay County, bringing 650 jobs to northwestern Minnesota’s border with North Dakota.


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GROWERS CEO on how harnessing transactional data can enhance customer loyalty in 2025

From CropLife


In this installment of “Cultivating Tomorrow”, GROWERS CEO Steven Valencsin shares insight on why ag retail needs a more strategic, data-driven approach that reflects the realities of 2025.


As we approach 2025, the agricultural landscape is gearing up for intense competition amongst retailers vying for customers. Many retailers are fighting to maintain market share, but I believe there’s a bigger opportunity for those who think strategically. The key lies in leveraging a powerful, often overlooked asset: transactional data.


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Crop fertility reminders: Replenish what has been removed for a head start on your next crop

From CropLife


Planning for next year’s crop is underway in earnest. Grain and fertilizer prices may have you thinking about skipping some normal fertility practices this year – particularly applying supplemental phosphorus and potassium. However, before making decisions, carefully consider all crop-nutrition-related factors.



Full story.

How higher interest rates could impact farmers in 2025

From The Daily Scoop


The Federal Reserve is expected to cut interest rates this week, which would mark the second time this year. However, the Fed’s decision to cut the benchmark interest rate last month is only providing relief on short-term rates. The mid- and long-term rates have actually gone up, not down.


“The market trades the two-year break-even inflation rate — the expectation of what inflation’s going to average over the next two years,” says Arlan Suderman, chief commodities economist with StoneX Group. “In the last six weeks or so, we have seen it jump a full percentage point. That is a significant short-term jump, saying that reinflation fears are coming back in a hurry.



Full story.

The Four roles for AI in agronomy

From CropLife


For the past several years, one of the major buzz terms in agriculture has been artificial intelligence (AI). Many ag equipment companies such as John Deere are now actively launching new products powered by AI. And other market experts predict even more uses of AI going forward.


At the recent Field Forward Event, hosted by Nutrien Ag Solutions, Paul Bonnett, Senior Director of Digital Agronomy and Data Services, talked with attendees about all the ways AI implementation might play out for agriculture and agronomists.



Full story.

U of MN Extension - Minnesota Crop News 


Weekly Digest - November 4, 2024

Webinar: Regional Economic Conditions: Agriculture


The Federal Reserve Bank of Minneapolis surveys farm lenders across the Ninth District quarterly to check the pulse of agriculture in this heavily rural region. Join regional economist Joe Mahon for a live webinar to discuss the latest results—gathered as harvests were underway—on farm incomes, land values, and the impacts of interest rates on farm finances.


Friday, Nov. 15

9:00–9:30 a.m. CT

Virtual event


Register

Minnesota Crop Production Retailers

1020 Innovation Lane, Mankato, MN 56001

(763) 235-6466

mcpr-cca.org

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