Agriculture Shorts

The Federal Reserve lowered its benchmark interest rate by a quarter of a percentage point to 3.75%-4.00% over concerns with the labor market . . . DTN reported the average price of anhydrous fertilizer was 8% higher in October compared to September. Prices for four other fertilizers were up slightly, while three fertilizers saw price reductions led by urea, down 3% . . . Charlie Bilello noted that the average U.S. family health insurance premium has risen 365% ($6,000 to $27,000) since 1999, an increase of 6.1% per year, more than double the overall inflation rate . . . A letter signed by 124 organizations representing the American food and agricultural value chain voiced support for a full 16-year renewal of the United States-Mexico-Canada Agreement (USMCA) in the public consultation process for the 2026 Joint Review of the USMCA.