CME lifts corn, soybean shipping clause on the Illinois, Mississippi
The CME Group finally lifted the May 2 force majeureit declared at registered Chicago Board of Trade (CBOT) corn and soybean shipping stations on the Illinois and Mississippi rivers because of high water levels and flooding.
With 37 Illinois counties now declared disaster zones by Gov. JB Pritzker, the newly elected Democrat promised farmers and rural dwellers additional aid to help them recover from record rainfall and flooding.
Farm loan repayment rates down, collateral demand up
Agricultural credit conditions have decayed in recent quarters, with loan repayment rates down, loan demand on the rise, and some lenders requiring increased collateral, according to reports from Federal Reserve banks in Chicago and Minneapolis.
Researchers find first Asian longhorned tick in Tennessee
Researchers recently discovered the first Asian longhorned tick in Tennessee; first seen in New Jersey in 2017, it has now spread to 11 states. The Centers for Disease Control and Prevention reported there is no evidence that the tick has yet transmitted pathogens to humans or animals in the United States.
Foreign investors buying U.S. farmland worries some states
Data from the USDA show that foreign investors control, either through direct ownership or long-term leases, at least 28.3 million acres of U.S. farmland valued at $52.2 billion. That area is about the size of the state of Ohio.