Significant changes from the initial release are increased corn prices, soybean prices, and non-land costs. ceres imagaging lindsay irrigation partner. for the complete table of custom rates, which also lists tractors of various sizes. Differences in corn and soybean returns will be influenced by corn, soybean, and nitrogen fertilizer prices. Edwards, William. This publication reports custom rates based on a statewide survey of 377 farmers, custom operators, farm managers, and landowners conducted in 2020. As shown in Table 2, a 15-foot chisel plow used on 630 acres has an economic cost of $14.50 per acre and a 21-foot chisel plow used on 882 acres has an economic cost of $16.00 per acre. If you are figuring what it costs you to make hay on your farm, add mowing, raking, and baling at 20.20 per bale ( Machinery Cost Estimates, University of Illinois Extension, June 2015 ). Authors: Dale Lattz and Gary Schnitkey. Estimating Farm Machinery Costs, available by searching Iowa State University agriculture decision maker and machinery management. We provide machinery cost estimates which may be helpful in setting custom rates. A survey of agricultural custom operators is conducted in Nebraska every two years. We did not raise fertilizer costs to reflect the highest prices because: Soybean fertilizer costs are at $102 per acre (see Table 1), up considerably from the $45 costs for 2021. Several options exist for reducing non-land costs, with this article focusing on tillage related costs. However, any appreciable decline from the $5.00 per bushel corn and $12.00 per bushel soybean prices without corresponding increases in yields will result in very low incomes. Fuel costs are based on $2.50 per gallon for diesel fuel. Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, updated December 7, 2021. In the updated 2022 projections, we are using a $5.00 per bushel corn price and a $12.00 per bushel soybean price. The cost with the largest increase is fertilizer. Several factors may explain this divergence: Whether prices will come down to those indicated by typical supply/demand relationships is an open question that will play out over the next year. Crop Insurance Decision Tool Spring 2023, Experience, Knowledge, & Collaboration: Why Good Managers Make an Effort to Improve, A Deeper Dive into the February 2023 CBO Baseline: Title I Commodities Programs, Trends in the Operational Efficiency of the U.S. Ethanol Industry: 2022 Update, Fertilizer Prices and Company Profits Going into Spring 2023, RP vs. RP-HPE Insurance Decision: Premium, Cash Flow, and Forward Contracting, The Russia-Ukraine War and Changes in Ukraine Corn and Wheat Supply: Impacts on Global Agricultural Markets, The FAO Food Price Index Drops in February, For the Eleventh Consecutive Month, Reuters: Ukraine Doesnt Plan to curb 2023/24 Wheat Exports, All Options Considered by U.S. Over Mexicos Corn Import Restrictions, AMIS: War in Ukraine, Black Sea Grain Deal- Uncertainty Continues to Hang Over Agricultural Markets, Crop Insurance Guarantee: $5.91 for Corn and $13.76 for Soybeans, Biden Administration Preparing Policy Shift on Rule to Boost Ethanol, Department of Agricultural and Consumer Economics. At this point, our return estimates are not suggesting large changes in acreage. Pull-type at $3.90 per acre. Consider reducing tillage operations. HARVESTING September 2021 This publication shows estimated costs for combining, using grain carts, and hauling grain. Based on the ISU data, average custom rates for tillage, planting and harvest operations in 2021 are expected to decrease by about 3%, compared to the rates for similar operations in 2020. 2020 Survey Responses Below are tables summarizing the results of the 2020 Ohio Farm Custom Rate Survey. Survey respondents include both providers and users of custom services, and data reflect the prices paid for typical farm and ranch custom operations. Disclaimer: We request all readers, electronic media and others follow our citation guidelines when re-posting articles from farmdoc daily. farmdoc daily (10):143, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, August 4, 2020. All regions have about equal corn and soybean returns (see the corn-minus-soybean returns in Table 2). All rights reserved. ceres imagaging lindsay irrigation partner. These rates, except where noted, include the implement and tractor if required, all variable machinery costs such as fuel, oil, lube, twine . Crop Insurance Summary of Business Tool (Sheet), Post Application Coverage Endorsement Tool (Sheet), Balance Sheet & Historical Financial Statements, Post Application Coverage Endorsement Tool, Biomass Crop Budget Tool Miscanthus and Switchgrass, Illinois Soil Productivity and Yield Utilities, Illinois Crop Budgets and Historic Returns, Department of Agricultural and Consumer Economics. Projected costs have been raised for 2022, and corn and soybean costs are. Thus, her professional and career focus is centered around educating agriculture producers and youth to aid in prospering the agriculture industry. hbbd```b``+@$S7di'EHi` ,""A$& Q`D]k@${ d[Vq "Nitrogen Fertilizer Strategies for 2022." FIRM Team Fact Sheet Number . Air-seeder at $16.80 per acre. FAST Tools. A farm utilizing a piece of tillage equipment on fewer acres could purchase a smaller, less expensive implement and reduce cost per acre. These costs are heavily dependent on annual hours of use and useful life. 2019 Custom Machine and Work Rate Estimates. Lattz, D. and G. Schnitkey. Again, other factors such as timeliness, liquidity, solvency, and tax management affect a farms decision to own the sprayer or use a custom operator to spray the farms crops. Many farms trade machines before they are completely worn out. Interest, insurance and housing, and repair cost rates were assumed to be 5 percent, 1 percent, and 1.5 percent, respectively. Custom work is defined as a service or operation performed for the customer with the . "Planting and Acreage Decisions in 2022." Crop Insurance Summary of Business Tool (Sheet), Post Application Coverage Endorsement Tool (Sheet), Balance Sheet & Historical Financial Statements, Post Application Coverage Endorsement Tool, Biomass Crop Budget Tool Miscanthus and Switchgrass, Illinois Soil Productivity and Yield Utilities, Illinois Crop Budgets and Historic Returns, A Straight-Forward Structure for a Variable Cash Rent, The Agriculture Improvement Act of 2018: Initial Review, The Price Loss Coverage (PLC) Option in the 2018 Farm Bill, The Agricultural Risk Coverage County Level (ARC-CO) Option in the 2018 Farm Bill, The Case for Looking at the ARC-IC (ARC-Individual) Program Option, ARC-IC in 2019: Release of a 2019 ARC-IC Payment Calculator, Gardner Program Payment Calculator (ARC/PLC), Benchmarking Crop Machinery Cost and Investment, Comparing Machinery Values on Illinois Grain Farms, Revenue and Costs for Illinois Grain Crops, 2021 Cost to Produce Corn and Soybeans in Illinois, When Creating 2023 Crop Budgets, Keep in Mind Family Living Costs, Projected Wheat Double-Crop Soybean Profitability in 2023, April Update to 2022 Crop Budgets: Projected Profits Even with Record Costs, 2020 Cost to Produce Corn and Soybeans in Illinois, Index Numbers of Illinois Farmland Values, Experience, Knowledge, & Collaboration: Why Good Managers Make an Effort to Improve, A Deeper Dive into the February 2023 CBO Baseline: Title I Commodities Programs, Trends in the Operational Efficiency of the U.S. Ethanol Industry: 2022 Update, Fertilizer Prices and Company Profits Going into Spring 2023, RP vs. RP-HPE Insurance Decision: Premium, Cash Flow, and Forward Contracting, The Russia-Ukraine War and Changes in Ukraine Corn and Wheat Supply: Impacts on Global Agricultural Markets, Fixed Cash Rent Lease Form Short Form PDF, Soil Health and Conservation Addendum PDF, October 31 is Notice Deadline for Many Farm Leases, Financial Characteritics of Illinois Farms, Credit Reports and Consumer Credit Scoring, Summary of Illinois Farm Business Records, Farm and Family Living Income and Expenses, 2023 and 2024 Effective Reference Prices and the Next Farm Bill, Mulling over Margin, Part 5: An Inherent Problem with Margin Protection Programs, Mulling over Margin, Part 4: Lessons from Canadas Whole-farm Margin Protection Program, PLC and ARC Payment: 2021 Payments and Outlook for 2022 and 2023, Mulling Over Margin, Part 3: Chasing the Cost of Production Across Regions, Mulling Over Margin, Part 2: the Elusive Cost of Production, A 2022 Review of the Farm Bill: Economic Perspectives on Title I Commodities, Reviewing the Latest CBO Farm Bill Baseline, Mapping the Farm Bill: Reviewing the CRP; Law, Land & History, 2021 Corn and Soybean Yields: Implications for Crop Insurance and Commodity Title payments, Department of Agricultural and Consumer Economics. Our YouTube channel includesfarmdocwebinars and publication related videos. Tillage operations are typically used to prepare a desirable seedbed, reduce weed growth, incorporate fertilizer, or improve soil conditions. This article outlined the conceptual framework needed to estimate machinery costs per acre. A way for reducing these costs is outsourcing the equipment, thereby allowing the individual performing the operation to perform the operation over more acres, and thereby lower total costs. Examples pertaining to field cultivation and a self-propelled sprayer were used to illustrate the conceptual framework. http://www.farmdoc.uiuc.edu/manage/newsletters/fefo06_16/fefo06_16.html, http://www.farmdoc.uiuc.edu/manage/machinery/machinery_summary.html. Salvage value is an estimate of the sale value of the machine at the end of the economic useful life. 0 farmdoc daily (11):150, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, November 2, 2021. 2H8so:e`!g[ a The latest in the Illinois Farm Management Handbook. 2431 0 obj <> endobj Copyright 2023. %PDF-1.6 % This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. It is best to use a farms actual repair records to estimate these costs. U of I ag economists expect 2021 machinery cost estimates to be 8% to 10% higher than 2019s. Summary of statistical data on variable case rent leases in Illinois. Factors impacting costs are illustrated for a 310 PTO horsepower tractor in Table 1, which shows per hour costs of operations from 2017, 2019, and 2021. Post Application Coverage Endorsement Tool (Sheet), Balance Sheet & Historical Financial Statements, Briomass Crop Budget Tool Miscanthus & Switchgrass, Illinois Soil Productivity & Yield Utilities, Farmland LEasing Facts Sheets & Pricing Information, Machinery Cost Estimates: Field Operations, Machinery Cost Estimates: Forage Field Operations, 2022 Planting Decisions, Nitrogen Fertilizer Prices, and Corn and Soybean Prices, Department of Agricultural and Consumer Economics. If you are having trouble registering please view the faq or watch the video below. Understanding the difference in the intent of the two reports, and acknowledging some differences in general assumptions (for example, fuel rate of $2.50 versus $2.63 per gallon), explains the potential differences in rates reported from each source. Due to the fuel price increases, fuel costs for the 310 horsepower tractor increased from $37.30 per hour in 2019 to $41.10 per hour in 2021 (see Table 1). The . Total costs will be at all-time highs in 2022. A comparison of the two sets of rates provides a baseline that can be used to evaluate costs of owning equipment and performing field operations versus outsourcing. Illinois Farm Management Handbook, Department of Agricultural and Consumer Economics, University of Illinois at Urbana . It is common to divide farm machinery costs into two categories: annual ownership costs and annual operating costs. Projected financial statements and, Illinois crop budgets for 2023 have been revised from their initial release in August (farmdoc daily, August 2, 2022). Registered in England and Wales. Langemeier (2017) and Plastina and Johanns (2017) indicate that the custom rate for field cultivating is approximately $12.75 to $15.25 per acre. Estimated machinery costs often are used in setting custom rates where one individual performs a field operation for another individual. Using this information the total machinery per acre was $3.90. @ &7 Uncertainty exists about whether fertilizer prices will continue at high levels. A "custom rate" is the amount agreed upon by both parties to be paid by the custom work customer to the custom work provider. These projected prices were based on prices from Chicago Mercantile Exchange (CME) futures contracts. Still, we are projecting positive returns for 2022, given relatively high corn and soybean prices. Anhydrous ammonia at $16.50 per acre. The diesel fuel price was increased from $2.50 per gallon in 2019 to $2.75 per gallon in 2021. 2453 0 obj <>/Filter/FlateDecode/ID[<7EEAAD7FB86E6843A8A58DCD32D3470D>]/Index[2431 44]/Info 2430 0 R/Length 103/Prev 175604/Root 2432 0 R/Size 2475/Type/XRef/W[1 2 1]>>stream That cost is higher than the maximum custom rate reported. Respondents were asked to report custom rates they had either paid or received during the past year. Machinery cost estimates for 2019 are available in the management section of farmdoc in five publications. Understanding the . The salvage value for the self-propelled sprayer is assumed to be 30 percent of the purchase price. 1 Min Read. In addition to the costs outlined in table 3, the costs in table 4 include fuel, lubrication, and labor costs. "Machinery Cost Estimates for 2019." Labor cost reflect machine time, time required to lubricate and service machines, and travel time. "Estimating Farm Machinery Costs." A "custom rate" is the amount agreed upon by both parties to be paid by the custom work customer to the custom work provider. Michigan State University Extension June 2019. Unlike the farmdoc machinery cost estimates which represent actual economic cost of performing the harvest operation, the custom rate survey reports actual rates expected to be charged or paid in 2020. Includes tractor overhead, implement overhead, fuel and lube and labor: Includes tractor overhead, platform overhead, fuel and lube, and labor: . These decisions may also be dependent on requirements of a landlord or business owner for certain practices to be done and concern over the ability to outsource in a timely manner when the task needs completed. Improvement in outlook could come from higher prices, above trend yields without lower prices, additional government aid, cuts in costs, or some combination of those. Learn, Introduction Knowledge, experience, and collaboration work hand in hand with one another to improve farm output per unit of input (i.e., productivity). Details: WebFarmland Values and Rental Rates for 2022 - farmdoc Farmland Values and Rental Rates for 2022 December 6, 2021 at 11:00 am - 12:00 pm CST Farmland illinois farm custom rates 2021 Verified 8 days ago Url: farmdoc.illinois.edu Go Now Get more: Illinois farm custom rates 2021 Show All Rentals Similarly, soybean non-land costs are projected at $476 per acre, a $101 per acre increase over the 2021 level. Total costs for the 310 horsepower tractor were estimated at $181.10 per hour in 2019 (see Table 1) and per hour increased by 4% to $189.20 per hour in 2021 (see Table 1). "2022 Crop Budgets Contain Higher Costs." Lattz, D. and G. Schnitkey. Still, we are projecting . Oklahoma Farm and Ranch Custom Rates, 20212022. 1 Min Read. Ownership costs include depreciation, interest, and insurance and housing. When the tillage equipment is used on fewer acres, the cost of operation would rise. The second publication Revenue and Costs for Illinois Grain Crop shows yearly returns and costs of producing corn, soybeans, wheat, and double-crop soybeans by region of Illinois. Purdue Educators distributed the questionnaires at meetings and events statewide during the last month of 2020 and the first three months of 2021. Much uncertainty exists concerning fertilizer prices moving into spring. All rights reserved. Though this information is very useful when establishing custom rates, it is prudent to compare your farm machinery costs per acre to custom rates. Current fall bids for 2022 cash delivery were also considered and are close to projected prices. hb``` eaVCz @ .m&n\`h``) J20ii TEjA@JGCbs>1Um_iF L:C#u` (^ FAST aids users in performing financial analysis, assessing investment decisions, and evaluating the impacts of various management decisions. 2474 0 obj <>stream Depreciation for tax purposes is often accelerated compared to economic depreciation. Check out the entire list of cost estimates at Farmdoc: A 10th-generation agriculturist, Sierra Day grew up alongside the Angus cattle, corn and soybeans on her familys operation in Cerro Gordo, Ill. Iowa State University Extension and Outreach, Ag Decision Maker, A3-29, May 2015. Substantial increases in list prices of machinery occurred between 2019 and 2021. Economic useful life is not necessarily the same as service life. The computations of interest, insurance and housing, and repair costs assumed that the self-propelled sprayer had one-half of its useful life left. This publication shows estimated costs of performing agricultural field operations. These higher fertilizer costs reflect higher prices for diammonium phosphate and potash. Includes tractor overhead, implement overhead, fuel and lube, and labor: Split-row planter for soybeans at $12.50 per acre. In addition to the costs outlined in table 1, the costs in table 2 include fuel, lubrication, and labor costs. Shawn and Kristy Freeland with some of their cattle, Corn with fuel pump handle representing ethanol fuel. Estimated machinery costs often are used in setting custom rates where one individual performs a field operation for another individual. The "Ohio Farm Custom Rates 2022" publication reports custom rates based on a statewide survey of 223 farmers, custom operators, farm managers, and landowners conducted in 2022. endstream endobj startxref Based on data collected through the Purdue University Center for Commercial Agriculture 2021 Custom Rates Survey, the person baling the hay on shares today gets 52% of the crop, on average. Lattz, D. and G. Schnitkey. Custom rate guides are popular documents in those states that continue to do the survey legwork; unfortunately, many do not. endstream endobj startxref University of Illinois Extension provides equal opportunities in . 164 0 obj <>stream Between 2019 and 2021, the list price on a 310 HP tractor increased by 9.1% from $410,256 in 2019 to $447,479 in 2021. Some farms may have other factors to consider, such as requirements of land or business owners, and the ability to outsource, and timeliness of completing the task. Also includesgeneral updateson farmdoc publications and events. October 11, 2021. Results from several studies suggest that expected yields are maintained with a relatively low number of passes. farmdoc daily (9):144, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, August 6, 2019. Thus, it is imperative that farms compute their own machinery costs per acre when making comparisons with custom rate survey data. Salvage values for the tractor and implement were assumed to 30 percent of the purchase prices. Similar results for northern Illinois, central Illinois low-productivity farmland, and southern Illinois are available in the Revenue and Costs for Illinois Grain Crops publication. It would be more cost effective to outsource the task than owning an implement of that size for 735 acres. %%EOF Tillage passes that may fall in this category are those associated with heavier, deep tillage that are not performed on all acres in every year. "Machinery Cost Estimates: Field Operations." University of Illinois Extension, Farm Business Management, June 2017 . And he expects 2021 costs to be 8% to 10% higher than 2019. To fully obtain the benefits of reduced tillage passes, the pieces of equipment on a farm must be reduced. Guidelines are available here. Machinery ownership and labor can be costly. Pursuit of one of these items without the, The Congressional Budget Office (CBO) projections for mandatory program spending, known as the CBO Baseline, have developed an into one of the primary influences on farm bill debates. If the same chisel plow were used on only 735 acres (50% less acres), the cost would increase about 80% to $22.86 per acre (see Table 2). The site also contains a completed example of a farm return. Tables 3 and 4 present machinery costs for a self-propelled sprayer operation on the case farm. The purpose of this publication is to provide information on custom work . Overall, corn and soybeans have about the same projected profitability in 2022: $61 farmer return for corn and $67 farmer return for soybeans, giving a difference of -$6 per acre. %%EOF "Management Decisions Relative to High Nitrogen Fertilizer Prices." Schnitkey, G. Crop Budgets, Illinois, 2022. Illinois Farm Management Handbook. The cost with the largest increase is fertilizer. There will be great diversity in cash rent increases across farms. This Current Report summarizes data collected from Oklahoma farmers, ranchers and custom operators during the fall of 2021. One of the best resources for average custom rates is the annual Iowa Farm Custom Rate Survey that is coordinated and analyzed by Iowa State University. The "Ohio Farm Custom Rates 2022" publication reports custom rates based on a statewide survey of 223 farmers, custom operators, farm managers, and landowners conducted in 2022. This publication presents crop budgets for three regions in Illinois: northern, central, and southern Illinois. September 14, 2021 at 6:50 illinois custom rate guide Verified 8 days ago Url: wxms.nodedecrease.shop Go Now Get more: Illinois custom rate guide Show All Rentals Many farms may have tillage implements that have been on the farm for generations, are fully paid for and fully depreciated. Table 1 illustrates the computation of depreciation, interest, insurance and housing, and repairs. Tillage, Nitrogen Use, and Cover Crop Impacts of Corn and Soybean Returns. farmdoc webinar, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, June 22, 2020. From time to time, Prairie Farmer gets requests for the custom rate estimates on various field operations. Lets say you dont want to retire and rent out your farm, but you dont want to do it all yourself either. Farmers evaluating how costs may be cut in the upcoming year have several options, including reducing cash rents (see discussion in farmdoc daily, August 11, 2020). Many Iowa farmers hire some custom machine work in their farm business or perform custom work for others. Schnitkey, G., N. Paulson, K. Swanson, C. Zulauf and J. Baltz. Click here (http://www.farmdoc.uiuc.edu/manage/newsletters/fefo06_16/fefo06_16.html) for a look at their summary, including commentary by farm management experts Dale Lattz and Gary Schnitkey. The $25 projected increase considers these variations and gives an average. Fuel costs are based on a $2.25 per gallon price for diesel fuel. Black piggy bank with downward trend line representing recession. Credit reports and scores are being used for many decisions such as credit determination and pricing; insurance pricing; government licenses; and employment. Ohio Farm Custom Rates. Machinery costs would have been higher had not interest rates been reduced from 2019 to 2021. Machinery Cost Estimates: Forage Field Operations. Illinois Farm Management Handbook, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, updated October 11, 2021. First, the 2022 Crop Budgets give corn-after-corn, corn-after-soybeans, soybeans-after-corn, soybeans-after-soybeans, and wheat budgets for four regions: northern Illinois, central Illinois with high-productivity farmland, central Illinois with low-productivity farmland, and southern Illinois. Moreover, our return estimates do not suggest large changes in acres from 2021 to 2022. Schnitkey, G., N. Paulson, K. Swanson and C. Zulauf. Machinery Cost Estimates: Harvesting. Illinois Farm Management Handbook, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, updated October 11, 2021. 147 0 obj <>/Filter/FlateDecode/ID[<269ADE589DBEE54094DDE17E08AF1239><530EECDB0D779343B2147141D420F3BF>]/Index[122 43]/Info 121 0 R/Length 119/Prev 235468/Root 123 0 R/Size 165/Type/XRef/W[1 3 1]>>stream This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Post Application Coverage Endorsement Tool (Sheet), Balance Sheet & Historical Financial Statements, Briomass Crop Budget Tool Miscanthus & Switchgrass, Illinois Soil Productivity & Yield Utilities, Farmland LEasing Facts Sheets & Pricing Information, Department of Agricultural and Consumer Economics. For a detailed statement, please see the University of Illinois Copyright Information and Policies here. If corn and soybeans prices fall, 2022 net farm incomes could be very low. Similarly, if a farm is providing custom rate services and has a higher cost than the published survey rates, it either needs to charge more or try to figure out how to lower costs per acre. However, profitability is expected if corn and soybean prices remain high. If annual hours of use or the useful life were lower, the cost rates for interest, insurance and housing, and repairs would be higher. 122 0 obj <> endobj Disclaimer: We request all readers, electronic media and others follow our citation guidelines when re-posting articles from farmdoc daily. USDA is forecasting a $4.80 corn price and $10.50 soybean price in its preliminary long-run forecasts. Data collected through the Precision Conservation Management from 2015 to 2019 indicates that light to moderate tillage is associated with higher returns than heavier tillage (farmdoc daily webinar, June 22, 2020). The average farmdoc machinery use economic costs are calculated for use on approximately 1,400 acres. Machinery Costs; Finance; Illinois Crop Budgets and Historic Returns; . Fuel costs are based on a $2.25 per gallon price for diesel fuel. Table 3 illustrates the computation of depreciation, interest, insurance and housing, and repairs. To compute economic depreciation, information pertaining to economic useful life, list price, and salvage value are needed. %PDF-1.5 % RP-HPE has a lower premium and thus a lower cash, The impacts of the Russia-Ukraine conflict on Ukrainian corn and wheat supply are reassessed at the wars one-year anniversary. Estimated machinery costs can be useful when performing a field operation for another individual. Ukraines corn and wheat production and exports are of broad interest, Bloomberg writer Agnieszka de Sousa reported today that, Global food costs edged down again, extending their retreat to the lowest in 17 months, although consumers continue to feel the pinch, Reuters writers Rod Nickel and Pavel Polityuk reported yesterday that, Ukraine sees no need to limit wheat exports for the upcoming 2023/24 July-June season, as the winter harvest looks to, Reuters writer Andrea Shalal reported yesterday that, The United States will consider all options, including a formal trade dispute panel, unless Mexico addresses Washingtons concerns over Mexicos plan to limit, In its MarchMarket Monitorreport, the Agricultural Market Information System (AMIS) indicated that, With no end in sight to the war in Ukraine and threats of further escalation, uncertainty continues to, Reuters writer Julie Ingwersen reported yesterday that, Crop insurance policies that guarantee prices for the 2023 growing season are the highest since 2011 for corn and the second-highest on record, Reuters writers Jarrett Renshaw and Stephanie Kelly reported yesterday that, The Biden administration is expected on Wednesday to recommend for approval a rule that would allow expanded sales of gasoline.
