North Coast vineyards in California are preparing for a late winegrape harvest after a cold and overcast spring slowed fruit growth in the prized wine region.
The nation's average gas price increased 2.1 cents last week to $3.55 per gallon. The national average DIESEL price increased 2.7 cents and stands at $3.83 per gallon.
With Memorial Day Weekend, and Americans kicking off the summer driving season, the nation's average gas price is unchanged from a week ago at $3.51 per gallon.
After reaching recent highs in 2021 and 22, the average net cash income of U.S. farm businesses is expected to decline by 18% in 2023 compared with 2022.
Farm real estate values increased considerably in 2022 but showed signs of softening late in the year as interest rates on farm loans jumped to decade highs alongside increases in the federal funds rate.
The February Farm Income Forecast, showing net farm income, a broad measure of profits, at $136.9 billion in calendar year 2023, a decrease of $25.9 billion, or 15.9% from last year.
Not much movement in the November Purdue University/CME Group Ag Economy Barometer with a reading of 102 for the month, unchanged from October. The national average gas price fell 15.8 cents over the last week.