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USDA Reports Record Corn Yields, Soybean Production Down

Washington D.C. - The United States Department of Agriculture (USDA) released its latest crop report today, revealing a record-breaking corn yield for the 2022 growing season. According to the report, corn production is expected to reach 15.1 billion bushels, surpassing the previous record set in 2019.

However, soybean production took a hit, with yields down 4% from last year's record high. The USDA estimates soybean production at 4.3 billion bushels, citing dry weather conditions in key growing regions.

Global Wheat Prices Soar

International wheat prices have surged to a 10-year high, driven by drought and heatwaves in major wheat-producing countries such as Russia, Ukraine, and France. The price of wheat futures on the Chicago Mercantile Exchange has risen by over 20% in the past month, sparking concerns about food security and inflation.

New Pest Threatens US Apple Crop

A new pest species, the spotted lanternfly, has been detected in several apple-growing regions in the United States. The insect, native to Asia, can cause significant damage to apple trees and other crops. Apple growers are urging farmers to take immediate action to prevent the spread of the pest.

EU Approves New GM Crop

The European Union has approved the cultivation of a new genetically modified (GM) crop, a drought-tolerant corn variety developed by a US-based biotech company. The approval comes after years of controversy and debate over the safety and environmental impact of GM crops.

Farm Bill Negotiations Stall

Negotiations on the 2023 Farm Bill have stalled, with lawmakers unable to agree on key provisions such as farm subsidies, conservation programs, and trade policies. The bill, which sets agricultural policy for the next five years, is expected to be a major priority for lawmakers in the coming months.

Stay tuned for further updates on these and other agricultural news stories!