Ag News: Farmland Values Rise in Third Quarter
**California’s winegrape harvest is up slightly from 2020.
And while growers this year faced additional challenges from wildfires, the impacts of smoke taint were markedly less than last year’s devastating fire season.
This year’s winegrape crush is estimated at 3.6 to 3.7 million tons.
That’s an improvement over 2020, but still well below a normal year, in which the crush generally tops 4 million tons.
**The Federal Reserve Survey of Agricultural Credit Conditions shows farmland values rose in the third quarter this year.
The value of non-irrigated cropland rose by at least 12% in all of the participating survey Districts, with annual increases of more than 20% in some areas.
Despite consistent concerns about the increasing cost of inputs, agricultural lenders expect farm income and credit conditions to remain strong through the end of the year alongside higher commodity prices.
**Growth Energy CEO Emily Skor issued a thank you to lawmakers for introducing the Defend the Blend Act into the House of Representatives.
She says the Act would offer more certainty in the marketplace, especially as we await the 2021 and 22 Renewable Volume Obligations from the EPA.
Skor says, retroactively changing RVO levels is completely unnecessary, adds uncertainty to the marketplace, and far exceeds the EPA’s legal authority.