Terrain

🗞️ Hot off the press! We have another issue of "News Worth Knowing," a series where we dissect news topics important to agriculture and weigh their significance for the sectors relevant to our #FarmCredit customers. This time, our analysts check in on: ◽ The U.S.-Mexico corn controversy. With the "tortilla war" heating up, how will Mexico's new president influence our trade relationship and corn exports? ◽ Increased trading limits for cattle contracts. Were they unfair? Cattle producers seemed to think so. ◽ Wine industry wariness over new dietary guidelines. Is "no safe level" of alcohol consumption a possibility in 2025? Read it here: https://brnw.ch/21wOKLw #USWine #Cattle #Corn #Agriculture

In our newly released Q1 2025 Outlook, our analysts provide #FarmCredit customers with key insights they need to understand where the #FarmEconomy may be headed in 2025. In the video below, our executive head, John Newton, shares highlights from the reports, including: ◾ Cooling inflation and how that will impact interest rate decisions by the Fed ◾ Drought and hay availability, and the impact on beef production ◾ Corn demand and prices ◾ Headwinds facing soybean producers ◾ New processing capacity in the dairy industry ◾ Higher prices for tree nuts Access our Q1 insights here: https://brnw.ch/21wPxd0 Terrain is an exclusive offering of American AgCredit, Farm Credit Services of America and Frontier Farm Credit.

"Market expectations of the federal funds rate have moved substantially higher (meaning fewer projected Fed rate cuts in 2025)," our senior rural economy analyst, Matt Clark, writes in a new report. For farmers and ranchers, Matt notes that interest rate costs in 2025 should be modestly lower than a year ago. Meanwhile, rates on longer-term assets such as farmland will likely stay elevated in the near future, though down slightly from year-ago levels. With the Fed remaining data-dependent, Matt discusses a best practice in this environment: Have an interest rate plan like your commodity marketing plan. "Work with your #FarmCredit lender to stress-test your financial performance at different interest rates and have a plan for when to lock, when to remain variable, or when to refinance should interest rates move sharply in one direction." Read the full report here: https://brnw.ch/21wPvAb #InterestRates #AgEconomy #Farming #Macroeconomics

The Winter 2024/2025 issue of "Winescape" from Terrain and American AgCredit focuses solely on the state of the U.S. wine market while also answering the industry's most pressing question: What's next? "Retail wine sales fell across price tiers and sales channels during the first nine months of 2024," writes author Chris Bitter. "But on a positive note, the pace of the decline appears to be moderating a bit, with the high end of the market experiencing the most pronounced improvement." The report's Trending Topic section provides a detailed outlook on the wine market for 2025 and beyond. "Under Terrain’s base-case scenario of a relatively steady economic backdrop in 2025, I expect wine sales to improve, particularly at the high end," Chris states. Download the report today for informed predictions on the wine and grape markets, economy, and wine's "new normal": https://brnw.ch/21wPiF8 #CaliforniaWine #WineIndustry #Agriculture

Have you read our new report on crop farm profitability for 2025? 👇

"If you're a young and beginning farmer, these are likely questions that you have thought about or you probably need to think about for your operation." In the latest issue of "The Rural Economist," Matt Clark, our senior rural economy analyst, answers key questions from young and beginning farmers that shed light on issues that are likely to surface in the coming years. Read the report here: https://brnw.ch/21wP8HL #Agriculture #Farming

When our analysts aren't behind their desks, they're on the road meeting with #FarmCredit customers and engaging in their industries. Here's a list of events they'll be attending in December. Drop a comment or message if you'd like to meet with someone.

Terrain is hiring a senior grain and oilseed analyst.   We love charts. We’re comfortable presenting our outlooks to a room full of people. And to us, there’s nothing better than sharing our insights and data-backed analysis to help Farm Credit customers navigate what lies ahead.    If that paragraph speaks to you and you have experience building grain price outlooks and researching trends and issues in the industry, apply at the link below. 👇 https://lnkd.in/ew8Wh9ZA

The U.S. economy has significantly outgained its trade partners, even with higher-than-average interest rates. As a result, exchange rates have reaccelerated. Our senior rural economy analyst, Matt Clark, will give a keynote presentation on macroeconomic conditions and their impact on the pork industry at the 2024 National Pork Producers Council annual meeting on November 22. Check out this preview from his presentation 👇 (Note: The "broad exchange rate" is a mix of several prominent global currencies, and the other two indexes reflect the currencies of the countries to which the U.S. exports pork.) #Agriculture #Pork #Macroeconomy

"I think this [cattle] market still has room to the top side. The summer market, early fall: Has it tested us? Yes. Is it broken? No." Don Close, our executive head emeritus, talked cattle market trends for the rest of 2024 and into 2025 on This Week in Agribusiness with host Mike Pearson. Check out some of the highlights from their interview: https://brnw.ch/21wOMQG #Cattle #Beef #Agriculture