Categories: News

Rising soy and wheat prices boost farm income, but could spell higher food costs

After six years of depressed commodity prices, the markets for soy, corn, and wheat are heating up again, largely driven by increased exports to China. Combined with massive subsidies during the Trump administration, the Department of Agriculture estimates that U.S. farm income reached a near-record high last year even as the coronavirus pandemic upended the nation’s food supply chain. That means farmers are buying new equipment, making long-delayed repairs, and investing in more expensive crop inputs like seed and fertilizer, according to the Wall Street Journal. On the flip side, some say, the hot market could also lead food manufacturers to increase prices at the grocery store.

Related Post
The Counter
Share
Published by
The Counter

Recent Posts

Grist acquires The Counter and launches food and agriculture vertical

Grist, an award-winning, nonprofit media organization dedicated to highlighting climate solutions and uncovering environmental injustices,…

6 months ago

Is California giving its methane digesters too much credit?

Every year, California dairy farms emit hundreds of thousands of tons of the potent greenhouse…

3 years ago

Your car is killing coho salmon

Highway 7 runs north-south through western Washington, carving its way through a landscape sparsely dotted…

3 years ago

The pandemic has transformed America’s dining landscape into an oligopoly dominated by chains 

One of the greatest pleasures I had as a child growing up in the Chicago…

3 years ago

California is moving toward food assistance for all populations—including undocumented immigrants

Undocumented immigrants experience food insecurity at much higher rates than other populations, yet they are…

3 years ago

Babka, borscht … and pumpkin spice? Two writers talk about Jewish identity through contemporary cookbooks.

Writer Charlotte Druckman and editor Rebecca Flint Marx are both Jewish journalists living in New…

3 years ago