b'As Summer Closed, Farmers Faced Drought and Production ChallengesChallenges start to stack up as drought loomed over harvest months, and inflation continues to be an issue.Ally RodenOVER THE PASTfew months, farmers have faced inflation,The Index averaged 140.9 points last month, showing an 8.6% drought and more. It is necessary for not only farmers, butdecrease from Junes average. July is the fourth consecutive also seed experts, to be aware of challenges across the worldmonth to exhibit a decrease since all-time highs were hit in early that will inevitably impact the crop and to gear themselves with2022. While a decrease over the past few months is present, July knowledge to help along the way. 2022s record remains 13.2% higher than the recorded average Here are the agricultural highlights for the months of from thisfrom July 2021.summer. The decline in food commodity prices from very high levels is welcome, especially when seen from a food access viewpoint; Crop Production however, many uncertainties remain, including high fertilizer Corn production has fallen 5% since 2021, forecast at 14.4 bil- prices that can impact future production prospects and farmers lion bushels, according to the USDAs August Crop Productionlivelihoods, a bleak global economic outlook, and currency move-report. California, Iowa, Washington and Wisconsin are pro- ments, all of which pose serious strains for global food security, jected to reach record-high corn yields this season. said Maximo Torero, chief economist at FAO in a release.Soybean growers can expect a 2% increase this year, pro- Global supplies might tell a different tale.ducing 4.53 billion bushels. Soybean harvest is predicted toTight global supplies caused record prices for wheat and increase to 87.2 million acres, with an estimated 88 million acrescotton, with corn and soybeans hitting near-record prices, for the nation, increasing 1% this year. Arkansas, Illinois, Indiana,according to the Food and Agricultural Policy Research Institute Maryland, Mississippi, Ohio and Virginia are expected to hit(FAPRI)s August report. During the 2022/23 market year, the record-high soybean yields. price of wheat is predicted to surpass $9 per bushel, corn prices Wheat production is predicted to reach 1.78 billion bushels,will hit $6 per bushel, the price of soybeans is $14 per bushel and increasing 8% from 2021. Based on Aug. 1 conditions, wheat yieldcotton averages 96 cents per pound.is up 3.2 bushels from 2021 and is projected to hit 47.4 bushelsFarm inputs such as fertilizer and fuel prices continue to rise. per acre. In 2022, variable corn production expenses grew by nearly $164 per acre. Experts believe input costs will moderate over the next Commodity Prices few years, yet prices will remain well over the 2021 level.The Food and Agriculture Organization of the United NationsThese record prices are partly due to supply chain issues that (FAO)s Food Price Index showed a significant decline in theare now seeing an excess of inputs and a demand that does not benchmark for global food commodity prices in July. match.18/ SEEDWORLD.COMDECEMBER 2022'