Industry Ag News 10/20

Carrie Muehling

  • The combination of high interest rates and a strong U.S. dollar is beginning to take a disproportionate toll on rural industries like agriculture, forest products, mining and manufacturing. Most international transactions are still conducted in dollars, and a strong dollar makes U.S. exports more expensive and imports cheaper. That disproportionally hurts the backbone of the rural economy, according to a new quarterly report from CoBank’s Knowledge Exchange.
  • Steve Cobb, of Lake City, Arkansas, has been selected as the overall winner of the Sunbelt Ag Expo Southeastern Farmer of the Year award for 2023.
  • The International Food and Agribusiness Management Association (IFAMA) announced the appointment of seven highly regarded global food industry and academic experts to its Board of Directors. These new members bring a wealth of experience, expertise, and diverse perspectives that will further contribute to organization’s strategic mandate.
  • Syngenta Group’s Board of Directors has elected Jeff Rowe as Chief Executive Officer (CEO) of Syngenta Group, effective January 1, 2024. Rowe is currently President, Syngenta Crop Protection, Syngenta Group’s largest business unit. Erik Fyrwald, Syngenta Group CEO, will continue as CEO until the end of the year, when he will retire after seven and a half years with the company. He will continue as Advisor to the Chairman of Syngenta Group and remain on the Board of Directors. In addition, Hengde Qin has been named Chief Financial Officer of Syngenta Group, effective Dec 1, 2023. He will succeed Chen Lichtenstein, who has been CFO since the creation of Syngenta Group and will be stepping down to pursue other business opportunities.
  • The Soy Innovation Challenge to find new and novel uses for soybean meal is now accepting applications. This year’s deadline is Nov. 6, 2023.
  • Saying fertilizer shortages are creating a hardship for farmers across the U.S., the National Corn Growers Association (NCGA) – along with 62 other agricultural groups, including state corn grower organizations – sent a letter to Commerce Secretary Gina Raimondo calling on her to consider the current difficulties faced by farmers as she recalculates duties on phosphate fertilizer imported from Morocco.
  • Kubota Tractor Corporation and Trackhouse Racing announced the Nos. 1 and 99 Chevrolets will continue to carry the familiar Kubota orange paint scheme in races in the 2024 and 2025 NASCAR Cup Series seasons. With the sponsorship extension, Kubota also continues as the Official Tractor Company of Trackhouse Racing after serving as a primary sponsor on the team’s Chevrolets the last two seasons.
  • The Illinois Agriculture in the Classroom (IAITC) program continues to thrive as a resource for educating children about connections to agriculture. The program received funding to continue classroom lessons thanks to IAA Foundation grants to local county coalitions. Eighty coalitions serving 89 Illinois counties were awarded $647,000 in grant dollars which can be used for materials, training, educational lessons, and activities taking place during the 2023-2024 school year.
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