Ag Tech Adoption The confluence of complex demands on the global farming sector including food security, competitiveness, climate change and sustainability make the adoption of agricultural technology even more important. In a service to policymakers, McKinsey & Company surveyed 5500 farmers worldwide to better understand their views toward agtech and their adoption rates. First, there is agtech industry limitation of fragmentation. It lacks standard data architecture and cross-platform interoperability. Limits from the farmer standpoint include high cost, uncertain ROI, and lack of user friendliness. Still, there is the desire to adopt it, especially in the rich West, but there is low interest in Asia.
The dominant area of i...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
