On Wednesday, the Federal Reserve Board released its July 2022 Beige Book, a summary of current financial statements by the Federal Reserve District. The report included several observations about US agricultural steel.

Pictures of Fed Districts from, “Beige Book.”

* Region Six- Atlanta- “Agriculture was different. Most of the region was drought-stricken. At the end of each month, June’s predictions of the orange crop in Florida rose slightly from the previously predicted, but were lower than last season’s release. The USDA reported that the annual prices offered to farmers in April were slightly higher for beef, cotton, eggs, milk, soybeans, rice, and broilers. After a month, the prices of chicken, corn, cotton, eggs, milk, rice, and soy are reduced. Cattle prices have not changed. ”

* Seventh District- Chicago- “Affiliates continued to expect agricultural investment to be strong for most producers by 2022.

Despite concerns about the financial crisis, production reached farms on time.

“Heavy rains in some areas melted fertilizer and created ponds in the fields, damaging crops; in some areas there were concerns of dryness and heat. Pa, Corn and soybeans were almost the same for most of the District. Corn and soybean prices fell sharply during the reporting period, while milk prices were much higher. After the mass extinction of birds due to bird flu, the ability to lay eggs began to return and egg prices dropped from a high level. Prices for pigs and cattle have gone up. Farm prices went up again. ”

* Eighth district- St. Louis– “Agriculture in the districts declined slightly compared to the previous period and last year. In June, the quantity of corn, cotton, rice, and soybeans dropped dramatically to the whole region. Yields declined sharply during this period compared to last year, with the exception of rice, which rose slightly.

* Ninth Region – Minneapolis– “Regional agricultural conditions have remained strong since the previous report. Many maize and soybean crops in the area have been tested for good or bad and are doing well in a timely manner. However, about half of Montana’s winter wheat was poor or degraded, as drought persisted throughout the Golden Triangle. ”

* Tenth District- Kansas City– “The agricultural economy in the tenth region remained strong until June. Although the price of some of the larger items dropped slightly from last month, prices for crops and livestock remained high for many years.

Agricultural prices continued to support the source of income, but liaison with governments continues to raise serious concerns over rising crop and livestock prices.

Drought remained severe. The condition of maize and soybeans was slightly weaker than last year in most areas. Wheat in almost every province was impoverished and impeded to the common people. ”

Eleventh District- Dallas-Much of the region remained in a state of extreme drought, which made farming extremely difficult. Wheat harvest was in decline and with fewer acres to be harvested with yields, yields are expected to decline significantly.

Farmers continue to be affected by rising prices and availability of inputs. With prices and a very high price, manufacturers can still make a profit, but the current drought conditions pose a greater risk than ever before.

“Pastoralists continued to reduce their herds in spite of poor pastures and limited grasses. Proponents of her case have been working to make the actual transcript of this statement available online. ”

* Region Twelve – San Francisco– “Agricultural conditions and resources related to resources were mixed. Drought in many areas hampered the growing season, and Some farmers leave parts of their fields to fall to improve water use. Farmers in the Pacific North-West instead said rainfall was increasing, with one farmer expressing concern that winter could reduce yields. Farmers across the state also reported that fresh and well-cooked meals around the world were on the rise but noted that the rise of the dollar slowed trade.

Income exports, such as fertilizers, machinery, oil, and food, rose sharply during the reporting period, partly due to the ongoing Russian invasion of Ukraine. Metal degradation continued, but many commentators also noted a decline in ports and shipping costs despite rising fuel prices.

“One manufacturer in the Pacific Northwest has warned that lower shipping prices could signal a decline in food sales, while linking with the seafood sector led to a slight change in shipping rates.”

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