Ukraine

Time for your PNW Ag Network Price at the Pump.  Monday may have been a holiday here in the U.S., but trading continued across the globe.  And in that trade, we saw oil prices continue to slip, with West Texas Crude trading Monday down slightly to $73 per barrel.  And it’s not just...

Oil prices continue to soften, not on news from China, not because of the on-going war in Ukraine, but concerns over the U.S. economy.  Patrick DeHaan with GasBuddy said investors are concerned about everything from Wall Street to Main Street.   “...

Global food costs moved lower again for the 11th consecutive month.  The Financial Post says while consumers are still spending more for food, prices are at their lowest level in the last 17 months.  The UN Food and Agricultural Organization’s Food Price Index dropped 0.6% in February,...

The Ag economist for the Washington State Department of Agriculture says 2023 is shaping up to be a good year for the farm economy across the Evergreen state.  Madi Roy says the Washington farm economy is fairly stable right now, but many are proceeding with caution.  One of ...

Oil prices climbed slightly over the past two weeks following the news that Russia is going to trim oil production in the months ahead.  Patrick DeHaan with GasBuddy said while Russian oil is facing sanctions because of the invasion of Ukraine, that does not mean this production cut won’t impact international prices.   “Much ...

Consumers enjoyed a bit of relief at both the gas and diesel pump to wrap up 2022.  Fuel prices started to fall in some locations in early November, and continued through December, thanks to dropping oil prices, and economic uncertainty both in the U.S., but a...

West Texas Crude traded around $71 per barrel in last week’s trade, the lowest level we’ve seen in roughly a year.  Patrick DeHaan with GasBuddy said the economic uncertainty that has pushed oil prices lower for the past two-plus months continues to weigh on the minds of investors.  He said while there’...

Cargill’s CEO said he expects food prices to decline in 2023.  Yahoo said that’s despite tight global crop stockpiles, especially in oilseeds.  David MacLennan, Cargill CEO, said the solution to the food versus fuel debate is to boost global crop commodity production.   “We don’t think i...

"Oil prices this morning have plummeted down to about $75 a barrel the lowest level since Russia's invasion of Ukraine back in February that has pushed gasoline and diesel prices down," said Patrick DeHaan with GasBuddy.  He added fuel prices have tumbled considerably over the past couple of weeks, resulting in relief at the local station.  He said ther...

Input costs may have come down a bit, but they’re still putting the squeeze on many producers across the PNW.  The question is when will prices return to “normal”?   Corey Rosenbusch, president and CEO of the D.C-based Fertilizer Institute, ca...