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Corn (CZ=F) soybeans (ZS=F) and wheat (ZW=F) have tumbled over the last couple of weeks. Agricultural commodity futures are in bear market territory, more than 20% off their peaks earlier this year.
Lawmakers from agriculture-focused states have argued that the help is desperately needed as the US’s farmers are facing lower commodity prices and higher costs for supplies.
Mexico and Canada are two of the US's largest suppliers of agricultural products and accounted for $45.4 billion and $40.1 billion, respectively, in 2023, per the USDA.
The value and production of individual crops varies substantially from year to year as prices fluctuate on the world and country markets and weather and other factors influence production. This list includes the top 50 most valuable crops and livestock products but does not necessarily include the top 50 most heavily produced crops and ...
"Rising Water, Rising Food Prices," Interview with Richard Gilmore, Agribusiness Expert, for the Today Show, msnbc.com, June 2008. "Ag Commodity Markets and Food Prices." Interview, White House Chronicle, PBS, June 1, 2008. "Market Dynamics and Pricing of Biofuels." Speech at Biofuels Development Summit, May 15, 2008.
Along with climate and corresponding types of vegetation, the economy of a nation also influences the level of agricultural production. Production of some products is highly concentrated in a few countries, China, the leading producer of wheat and ramie in 2013, produces 95% of the world's ramie fiber but only 17% of the world's wheat.
Still, grocery prices are higher than they were a year ago. In the 12 months through April, prices rose 1.1%. But overall inflation for that period was higher, up 3.4%.
Wholesale prices for large eggs reached $5.57 per dozen in the Midwest on Wednesday, up 150% from a year ago and topping the previous record of $5.46 from December 2022, commodity data firm Expana ...