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Wheat prices could increase more than 40% and energy more than 50% this year, according to the bank’s president, David Malpass.
The Biden administration is examining the role market consolidation may play in the cost of seeds, fertilizer and other agricultural supplies.
The plan includes training for federal lenders about working with farmers and ranchers who work inside the borders of tribal nations.
One possibility: finding ways to use land under and around solar panels to grow crops.
Seed and fertilizer are just a few of the products whose costs have risen because of ongoing supply chain problems.
Iowa corn and soybean farmer April Hemmes paid double for nitrogen this year. Consumers shouldn’t blame growers for inflation, she said.
John Deere has unveiled a new autonomous tractor at the Consumer Electronics Show in Las Vegas. Farmers may be slow to adopt the technology.
Indigenous agricultural producers say they’ve had it with the federal government’s loan programs.
Tribal agricultural leaders say they would like to see more lending to agricultural producers and more autonomous control over federal funds.
Higher wages for Deere workers will show up slightly in equipment prices —but that’s only one of many costs farmers face.