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Journal Article
Biofuel Policies Are Likely to Drive Future Demand for U.S. Corn and Soybeans
The supply of U.S. corn and soybeans has grown over the past decade and is projected to increase further in the coming years. In the past, large supplies have been partly absorbed by both export markets and biofuel production. However, going forward, exports are unlikely to grow sufficiently to offset projected supply increases. Instead, demand driven by changes in biofuel policies will be critical to absorbing increased corn and soybean availability and supporting prices for these crops.
Journal Article
How Will Drought and Groundwater Depletion Affect Irrigated Farmland Values in the Tenth District?
Irrigated farmland commands a premium relative to non-irrigated farmland due to capitalized infrastructure, access rights to groundwater, and superior yield potential. In the Tenth Federal Reserve District, this premium has been increasing over time and rising faster during droughts. Whether this premium will subsist in the long term, however, depends on existing groundwater reserves, local rates of aquifer replenishment, and continued efficiency gains in water use.