The Department of Agriculture this week changed its forecast for 2016 all net cash farm income to $94.1 billion, up from its initial projection of $90.9 billion in February. While USDA increased the estimate, net cash farm income remains 13.3 percent lower compared to 2015. The net farm income forecast for 2016 in February was revised up to $71.5 billion from $54.8 billion but still down 11.5 percent from last year. Pro Farmer reports that for the second year in a row, USDA noted production expenses were down in 2016. Net farm income for 2015 was revised up significantly to $80.7 billion, an increase of 43 percent from the numbers released in February. Agriculture Secretary Tom Vilsack said the forecast highlights the ability of farmers to “plan ahead and make sharp business decisions in a challenging market.”

Earlier this month, Japan halted imports of western white and feed wheat from the pacific coast ports after unapproved genetically modified crops were found in an unplanted field in Washington state. Imports from the U.S. Gulf Coast were allowed to continue. Pro Farmer’s First Thing Today reports that Japan announced this week they’ll resume purchases of western white wheat this Thursday. Imports were allowed to resume after Japan established a system to test for GMO grains and keep contaminated supplies from getting into the country. Japan’s ag ministry also announced they’ll resume purchases of U.S. feed wheat too. Japan is the second biggest buyer of wheat in Asia. The U.S. is the largest wheat supplier to Japan, representing roughly 60 percent of Japan’s wheat imports.

Wheat prices have tumbled to the lowest point they’ve been at in the last decade, thanks in part to a successful harvest in the U.S. and strong harvest prospects overseas. Low wheat prices are causing a dilemma for elevator operators that have too much wheat and not enough storage. The ag economy struggles are exacerbated by threats to cut vital programs in the upcoming Farm Bill debate. The National Association of Wheat Growers is conducting a Farm Bill survey of its producers to find out which policies are the most vital to their success. The overall goal is to help develop a successful and functional Farm Bill in 2018. The Wheat Growers say it’s more important than ever that producer priorities are listened to as agriculture works toward an effective Farm Bill, which maintains the safety net as well as other vital programs. The National Association of Wheat Growers wants to encourage producers to fill out the survey and contribute to the successful planning of the next Farm Bill. The survey is on the Wheat Grower’s website at wheat world dot org.

Farm Futures recently completed its first producer survey of planting intentions for 2017. Farm Futures expects producers to boost soybean plantings because of strong demand and hedging opportunities on this year’s crop. Growers said they’re considering 84.4 million acres of soybeans for next year, which is one percent higher than this year’s plantings. Lower prices for corn may cause farmers to cut corn planting back next year to 93.1 million acres. That number is down one percent from this year. Wheat seedings will likely drop for the fourth consecutive year thanks to low prices. Producers told Farm Futures they would plant 49.1 million acres next year, a 3.4 percent drop, and that total would be the lowest since 1970. In addition to soybeans, the two other crops that could pull acres away from corn are cotton and sorghum. Plantings for both crops are expected to be around one percent higher next year.

The U.S. is on pace to continue the longest stretch of falling food prices in over 50 years. While the lower prices are a boon to shoppers, it’s putting serious pressure on the farm economy. The Wall Street Journal says reasons behind the lower prices start with excess production in several ag sectors, including dairy, meats, grains, and other staples. The trend is also being fueled by lower overseas demand from China and elsewhere due to a stronger dollar. Around the country, the price for a gallon of milk fell 11 percent from last year to $3.06 in July. The price for a dozen eggs fell 40 percent to $1.55 in the same period. As farmers get less money for products like raw milk, cheese, and cattle, they’re slashing spending. In turn, that creates a ripple effect to companies like John Deere, who are cutting production due to the farming slump. Economists feels the price slump could last at least through the end of the year. The current food price slump could beat the nine months of declines seen back in 2009-2010. Incidentally, the falling price of food is taking its toll on the nation’s grocery stores, which have thin profit margins to begin with.

A recent study published in Nature magazine found that human brain evolution would not have been possible without eating meat. The report stated energy saved from less chewing and the calorie-rich, nutritious benefits of meat played a large role in the evolution of the human brain. According to the report, meat requires less force to chew per calorie than the generally tough plant foods that were available to early humans. The National Pork Producers Council says another report, published in an academic journal, found that a vegan diet uses a far less sustainable agricultural land base than omnivorous diets. The report says meat production can utilize pasture land and crop land that vegetables and fruits are unable to use. While a vegan diet is less land-intensive, NPPC says reducing the amount of meat products does not necessarily free more land for cultivation.

Culver’s restaurants announced the chain has enhanced its ‘Thank You Farmers’ campaign by sponsoring 19 corn mazes across the United States. Culver’s says the program recognizes the hard work and commitment of farmers who produce food to feed the nation. To date, the Thank You Farmers initiative has raised nearly $1 million in support of the National FFA Organization and Foundation, local FFA chapters and a variety of local agriculture organizations. Each maze design includes the ‘Thank You Farmers’ message, and a variety of farm scene elements like cows and tractors. The corn mazes are located across the nation from Arizona to Florida. Find a complete list of the locations online at www.Culvers.com.