Farm Bureau tallies cost of Thanksgiving dinner in 2019

The American Farm Bureau (AFB) reports that the cost for a Thanksgiving dinner went up in 2019: By exactly one penny. Per AFB, the average cost of Thanksgiving dinner for 10 people is $48.91, up from $48.90 last year. This nominal increase follows three [...]

Lowest September crude corn oil exports since 2007

September crude corn oil production extended the modest YOY slump that began in July. Jul-Sep production totaled 529.6 million lbs, with 543.7 million lbs of crude oil used for refining, down 7 percent from Q3 2018. Crude corn oil used in refining was 171.4 [...]

Higher prices help lift dairy herd

October saw the second consecutive increase in the U.S. dairy herd as higher prices for products like cheese and non-fat dried milk (NFDM) helped lift milking revenues. The November Milk Production report showed that the 24-state number and total U.S. herd recovered by 5,000 [...]

Could more African origins demand cocoa premium?

Speaking at an African investment forum, Ghana’s president made an argument for Nigeria and Cameroon to join Ivory Coast and Ghana’s cocoa market cooperation efforts. President Akufo-Addo acknowledged some “structural issues,” like Nigeria’s lack of a cocoa marketing mechanism, per The Africa Report. Both [...]

Frozen food sales growth expected to continue

Frozen food sales have grown in four of the past five years and were up 2.6 percent in 2018 alone, according to a study by the American Frozen Foods Institute (AFFI). Frozen food is a $56.7 billion industry in the U.S. and a $220.0 [...]

After quiet October, barge rates rise in November

Most-recent data from USDA show barge freight costs rose to 224 on the transportation cost index, a two-month high. Rail’s index level has remained steady at 284 since the beginning of October, while truck rates have fluctuated between 204 and 207 since mid-September. Freight [...]

Record-setting cold descends across Midwest this past week

Although the National Oceanic and Atmospheric Administration (NOAA) had forecast an atypically warm Q4 for much of the U.S., an early snowstorm event in October followed by record-breaking cold throughout much of the Midwest has belied that forecast. Already troubled by spring flooding, delayed [...]