Economist Brett Stuart, co-founder of Global AgriTrends, highlighted global trends shaping food demand, including population growth, a rising middle class, and productivity challenges, during a presentation to Idaho Farm Bureau members. With the world population increasing by 70 million annually, Stuart emphasized that productivity and free markets are crucial to meeting global food needs despite persistent hunger caused by politics and wars. Stuart stressed the importance of preserving conventional agriculture to ensure affordability and feed the nearly 1 billion food-insecure people worldwide.

Farm groups voiced their frustration as negotiations for a $20 billion economic assistance package for farmers collapsed, leaving Congress unable to reach a resolution amid ongoing farm bill debates. The American Farm Bureau Federation criticized Congress for turning its back on farmers during a time of rising costs and declining incomes. They pointed out that 141,000 farms have been lost over the past five years and warned that without aid, more closures are inevitable. The federation urged lawmakers to prioritize support for farmers, emphasizing agriculture's vital role in ensuring food security.

A coalition of regional leaders is urging the federal government to withdraw its decision to conduct new environmental reviews of the Columbia and Snake River dams, arguing that such an analysis would be premature, unlawful, and misleading. They highlight the dams' critical role in supporting the region's economy and environment, including affordable energy, reliable transportation, and significant salmon and steelhead recovery improvements. The coalition, representing diverse stakeholders in power, agriculture, and river commerce, vows to continue monitoring developments to safeguard the Columbia River Basin’s resources and regional interests.

High grocery prices are driven by natural disasters which significantly impact U.S. agriculture. Drought, the leading cause, accounts for over half of the $3.4 billion in annual agricultural losses. Idaho faces $16.2 million in annual losses, primarily from cold waves. Despite these challenges, Idaho’s agriculture remains robust, valued at $9.5 billion, with 22,600 farms and ranches.The USDA projects a 4% decline in 2024 farm income, with net cash farm income expected to drop to $158.8 billion—3.5% below 2023 but 9.8% above the 20-year average. Idaho contributed $2.9 billion in net farm income in 2023. Its diverse production of over 185 commodities highlights its resilience and adaptability in navigating economic shifts.

The 2024 U.S. Wheat Associates (USW) Crop Quality Seminars successfully showcased the highlights of the 2024 U.S. wheat crop across two dozen countries. These seminars, held from October to December, were a collaborative effort involving cereal scientists, market analysts, state commission staff, USW personnel, and producers, tailored to meet regional goals and share data from the annual Crop Quality Report. USW Chairman and Idaho Wheat Commissioner Clark Hamilton joined the North Asia team in Korea, Taiwan, China, and Japan. Idaho Wheat Executive Director Britany Hurst Marchant participated in the South America seminar. Hamilton praised the professionalism and impact of the seminars, which were well-received by customers worldwide.

A small grains economist at Washington State University, shared an optimistic yet cautious outlook for wheat prices at the Tri-State Grain Growers Convention. Weaker basis levels signal potential for price increases if futures rise, supported by reduced Black Sea exports and improved U.S. export performance. Challenges include a strong U.S. dollar, high ending stocks, and proposed tariffs that could impact key markets. Fortenbery advised farmers to monitor market conditions, consider hedge-to-arrive contracts, and capitalize on short-term price opportunities.

Global wheat trade is predicted to increase by 50% over the next 25 years, rising from 216 million metric tons to over 325 million metric tons, according to Vince Peterson, president of U.S. Wheat Associates (USW). Peterson emphasized the U.S.'s strong position in selling premium-quality wheat to high-paying markets despite holding only an 11% global market share. U.S. wheat production has reached 54 million metric tons, an eight-year high, with export projections of 22.5 million metric tons—the highest in four years. Soft white wheat, predominantly grown in the Pacific Northwest, has seen nearly a 50% increase in export sales compared to last year. Key markets such as the Philippines, Japan, Indonesia, and Thailand have recorded significant growth, with South Korea seeing a 132% increase in milling wheat imports.