Finance

First steps in ag climate fight are honesty and courage, not offsets and credits

Last May, the Canadian farm group National Farmers Union (NFU), submitted a detailed response to the Canadian government’s earlier “Draft Greenhouse Gas Offset Credit System Regulations.” The response, like the government request, went relatively unnoticed in U.S. ag circles.

It shouldn’t have because the 23-page reply by the 200,000-member NFU was as shocking in its brevity […]

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If futures markets don’t work, your markets won’t work

Contrary to the woeful baying by Big Agbiz, the United States–and any nation with enough money–will not run out of food this year. This can be said without reservation for two reasons.

First, war or no war, there is no global shortage of wheat, the crop today’s Chicken Littles are cluck-cluck clucking about. In the last […]

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Coming war for U.S. crop acres renews food-versus-fuel fight

American farmers are long familiar with acre wars. This regional, late winter scrum is a showdown over how many acres of corn, soybeans, cotton, and wheat acres farmers will plant mainly in the Midwest, Great Plains, and South.

Most years these fights are decided by a variable–and oftentimes volatile–combination of three elements: what market prices are […]

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Global Food Chains Face More Uncertainty, More Instability

For the second time in two years, a history-making calamity has shown just how fragile the world’s efficiency-driven, deeply interdependent food system is.

Two years ago, a rampaging pandemic threatened America’s pantries. Today, Russia’s invasion of Ukraine threatens supplies of key ag inputs like fuel and fertilizer while causing deep disruptions to global wheat, corn, and […]

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“Broken Systems Raise Costs Far Faster Than Resilient Ones”

One of the most beautiful–and inexplicable–aspects of economics is how its practitioners never seem to be wrong.

Indeed, almost every school of economic thought, from John Maynard Keynes’ demand-driven economics on the left to Arthur Laffer’s supply-side economics on the right, is crowded with disciples defending their leader’s theories and just often, if subtly, attacking their […]

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Smarm, Snarl, and Snark Can’t Replace Facts, Honesty, and Ideas

As deep winter reasserted itself over most of the nation’s farms and ranches, the New York Times brought some real heat to the Big-Ag-Fights-Climate-Change debate.

In a 14-minute, fast-paced video titled “Meet the People Getting Paid to Kill Our Planet,” the film’s subtitle not only names the killers, it convicts them, too: “American agriculture is ravaging the air, […]

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Making Pork Chops Flow Uphill

For more than 40 years my father farmed within a mile of where the Kaskaskia River met the Mississippi deep in southern Illinois. That meant he had two, lifetime partners: the river and the U.S. Army Corps of Engineers, landlords of the levees that guarded our wedge of the Great American Bottoms.

Dad never argued with […]

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Keep Moving, Nothing to See Here

No one was shocked recently when the General Accountability Office (GAO) announced the U.S. Department of Agriculture (USDA) had overpaid farmers billions of dollars during the slapdash tariff-mitigation scheme ordered by the Trump White House in 2018 and 2019.

A couple of billion bucks in government waste is, evidently, chump change when–as in the case of […]

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You Can Only Postpone Reality for So Long

Despite an honest-to-goodness flood of evidence to the contrary, more than 100 million American adults continue to deny the existence of climate change. That’s roughly one third of the country. 

Congress is little better. Currently, 109 House members and 30 senators, or about 26 percent of all members, have cast “doubt on the clear, established scientific […]

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Goodbye 2021’s High Profits, Hello 2022’s High Costs

It always seems odd to use the final week or two of the current year as a platform to view the coming year. How does looking in the rearview mirror give anyone a clear sense of what’s ahead?

That certainly was the case for most ag markets a year ago. For example, almost no one last […]

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