US wheat recovers and maple syrup financing
From the Ag Information Network, I’m Bob Larson with your agribusiness update.
**A slight rebound in U.S. wheat production and shipments is improving the profitability prospects of the grain elevators that store wheat as futures markets have improved for all three major wheat classes.
The larger crop is the result of two years of poor production and a historic series of inverted futures markets that reduced the profitability of wheat storage.
However, CoBank reports that the biggest risk to elevators in the coming year is a sharp rise in wheat prices.
**A great deal from the USDA’s Agricultural Marketing Service, awarding over $15 million to 22 grant projects to support the maple syrup industry.
Funds will also be used to strengthen and explore new market opportunities for U.S. food and agricultural products.
Funding comes from the Acer Access and Development Program, the Federal State Marketing Improvement Program and the Micro-Grants for Food Security Program.
**US Wheat Associates and the National Association of Wheat Growers thanked several lawmakers for introducing the American Farmers Feed the World Act of 2023 in the Senate.
The bipartisan legislation would restore the original intent of the Food for Peace program without devoting additional resources to farm legislation.
It also protects the interests of hardworking American farmers in providing food to needy people around the world.
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