Ag Business Articles
#4-‘Better Than Expected’ Yields
Published December 29, 2023
The 2023 growing season had a late start due to too much moisture. That was followed by a record drought in Minnesota. Despite those conditions, there was a common theme at harvest time. Yields were repeatedly described as ‘better-than-expected.’ The…#5-High Court Rules on Prop 12 Housing Standards
Published December 29, 2023
In a split 5-4 decision, the U.S. Supreme Court upheld California’s controversial Prop 12 initiative requiring the pork sold in the state be raised under certain housing standards. The same mandate impacts veal calves and egg-laying hens. This ruling is…#6-Fed Takes Aggressive Stance on Interest Rates
Published December 29, 2023
The Federal Reserve aggressively pushed the benchmark interest rate to its highest level in 22 years and that is ranked as the sixth most important ag story for the year. With inflation easing, the Federal Open Market Committee held its…#7-Fufeng Project Leads to Foreign Ownership Scrutiny
Published December 29, 2023
Foreign ownership of farmland was an issue heard in Congress and state legislatures throughout the country this past year. This story began when a Chinese company called the Fugeng Group purchased land near Grand Forks to build a corn processing…#8-U.S. Supreme Court Rules on Waters of the United States
Published December 29, 2023
The High Court struck down the EPA’s previous Waters of the United States definition. The Biden Administration released a new rule in August, but it faced immediate criticism. Farm Bureau President Zippy Duvall said EPA had “a golden opportunity to…#9-A Volatile Year for the Animal Protein Sector
Published December 29, 2023
Animal protein markets faced extreme volatility in 2023 and that is ranked as RRFN’s #9 story. The continuation of the drought limited the expansion of the cowherd and cattle prices were on an upward trajectory. Fed cattle and boxed beef…#10-Rapid Expansion of the Soybean Crush
Published December 29, 2023
The expansion of the soybean crush business rounds out RRFN’s list of the top stories of 2023. Green Bison Soy Processing completed construction of its $350 million facility at Spiritwood, North Dakota. Truckloads of soybeans are moving through the plant,…Panama Canal to Increases Max Number of Ships Allowed Per Day
Published December 29, 2023
Effective January 16, the Panama Canal Authority will increase the number of daily vessel transits to 24. That’s up from the current limit of 22 pass-throughs. The PCA credits better-than-expected rains in November and the success of water-saving measures. The…Where Will the Meal Go?
Published December 28, 2023
With the new crush capacity in the state, “there’s going to be an excess supply of soybean meal in North Dakota that’s going to have to find a home somewhere.” After receiving questions about using soybean meal as fertilizer, NDSU…