NATIONAL AG NEWS SPONSORED BY THE AMERICAN FARM BUREAU FEDERATION
National Ag News for May 10, 2022
New Study Demonstrates Lower Consumer Costs at the Pump
Clean Fuels Alliance America Monday released a new study, “The Offsetting Impact of Expanded Biomass Based Diesel Production on Diesel Prices.” The study shows that U.S. production of biodiesel and renewable diesel consistently reduces distillate fuel prices by increasing the supply. As the production and availability of cleaner, better fuels grew over the last decade, the price impact increased to a four percent benefit in 2020 and 2021. Kurt Kovarik, vice president of federal affairs for Clean Fuels, adds, “At today’s national average price for diesel fuel, the savings is equal to about 22 cents per gallon.” Biodiesel and renewable diesel meet more than six percent of the nation’s need for diesel fuel, according to the study. The study notes that even small changes in the supply of diesel fuel will result in relatively larger changes in the diesel fuel price. The study is available on cleanfuels.org.
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Farmland Partners: ‘Short and Distort’ Class Action Lawsuit Concluded
Farmland Partners Inc. Monday announced the deadline to appeal has passed with no appeal filed by the plaintiff from the U.S. District Court’s April 6, 2022, ruling dismissing the class-action lawsuit against the company and certain of its executives. The class-action suit has been pending since July 2018, when FPI, its management, and its shareholders were targeted by short-sellers who knowingly printed false information about the company to manipulate its stock price. The author of those attacks has since admitted the falseness of numerous allegations, which were at the core of the class action case. The company expects the plaintiff’s decision to forego an appeal of the district court’s order will result in the dismissal of two shareholder derivative lawsuits associated with the underlying class action lawsuit. FPI Chairman and CEO Paul Pittman says, “Today, we can finally close this chapter and move on to doing what we do best – investing in high-quality farmland across the country and delivering for our shareholders.”
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Lawmakers Seek $1 billion for Farm Bill Conservation Programs in 2023 Budget
A group of Senate Democrats last week requested the 2023 budget include funding for Farm Bill conservation programs. Senators Michael Bennet of Colorado, Debbie Stabenow of Michigan and Chris Coons of Delaware led the effort in a letter to the Senate Appropriations Agriculture Subcommittee. The senators also ask for $1 billion to continue to increase USDA Natural Resource Conservation Service Conservation Operations to help ensure farmers, ranchers, and foresters can be part of the climate solution. The letter states, “We need strong investments in USDA Natural Resource Conservation Service staff and resources to support farmers, ranchers and foresters to help mitigate and adapt to climate change.” In the recent FY22 omnibus spending bill, the Senate passed $904 million for NRCS Conservation Operations. NRCS staff help implement several Farm Bill conservation programs that are critical to helping farmers conserve land and water, protect water quality, and improve soil health. The lawmakers say strong investments in these programs are necessary to help agriculture community combat climate change.
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NPPC to Weigh in on EPA Formaldehyde Risk Assessment
The National Pork Producers Council will soon submit comments on the Environmental Protection Agency’s toxicological review of formaldehyde. NPPC says formaldehyde is used in pork production for, among other things, preventing Salmonella infections in pigs and as a disinfectant. Pork industry-funded research has demonstrated formaldehyde’s potential as a mitigant for contamination of feeds with viruses such as African swine fever. EPA in mid-April released a draft risk assessment on formaldehyde for public comment in advance of an external peer review that will be conducted by the National Academy of Sciences, Engineering, and Medicine. NPPC and other agricultural groups met last week with senior EPA leadership on the assessment and requested an extension of the comment period, which runs through June 13. EPA research claims long-term formaldehyde exposure in small amounts increases risks for rare head and neck tumors, and leukemia, among other health issues.
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AFBF Issues Support for Climate-Smart Commodity Proposals
The American Farm Bureau Federation last week announced support for climate-smart commodity proposals. Farm Bureau sent letters of support to five organizations that have submitted proposals for the USDA Climate-Smart Commodities program. USDA is investing $1 billion in pilot projects that create market opportunities for U.S. agricultural and forestry products that use climate-smart practices and include innovative, cost-effective ways to measure and verify greenhouse gas benefits. An AFBF review committee placed a high priority on projects that reflect objectives laid out by AFBF and state Farm Bureaus during USDA’s request for information process. While other projects may meet those goals, the review committee decided to focus on projects developed or supported by state Farm Bureaus. AFBF President Zippy Duvall says, “The voluntary, market-driven proposals we support will help farmers and ranchers reach their conservation goals while ensuring they keep dinner on the table for families across the country.”
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Busch Light and John Deere Team Up to Support American Farmers
Busch Light and John Deere Monday announced a “For the Farmers” collaboration featuring limited-edition beer cans to support Farm Rescue. Available May 16 through July 3, consumers can purchase 24- or 30-pack cases of 12-ounce Busch Light cans with farming graphics that feature the John Deere logo and equipment. For each case sold during its limited run, Busch Light will donate $1 to Farm Rescue, up to a maximum of $100,000, with John Deere matching Busch Light’s donation. Farm Rescue is a non-profit that provides critical material aid to family farms. Kristyn Stowe of Anheuser-Busch says, “The “For the Farmers” cans mark a legendary union of two iconic brands with a shared passion for supporting farmers and the great Heartlands of America.” Further, on Saturday, May 21, Busch Light and John Deere will host Cornfield Cornhole, a free, one-day fan experience in Big Bend, Wisconsin. At Cornfield Cornhole, a John Deere tractor and ground-posted slingshot will catapult hay bales wrapped in ‘For the Farmers’ graphics across the cornfield to reach an oversized cornhole board.
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