Soybean yield record broken and food price index rises slightly
This is your agribusiness update from the Ag Information Network.
**Georgia soybean grower Alex Harrell broke the world record for soybean yield with an overwhelming average of 218.2856 bushels per acre.
As www.agriculture.com reports, he not only broke his own previous world record of 206 bushels per acre, but did so in two consecutive years.
The 34-year-old farms around 4,000 acres in Lee and Sumter counties with his father Rodney.
He grows corn, soybeans, wheat and watermelons.
www.agriculture.com/new-soybean-yield-record-set-at-218-bushels-8695782
**Farm credit pressures were limited in the second quarter but showed signs of tightening amid lower grain prices and rising input costs, a Federal Reserve Bank survey showed.
According to the survey, the credit crisis in agriculture remained contained despite sharp declines in farm incomes and investment spending, but there were signs of financial pressure.
According to the Fed, about 60 percent of agricultural lenders reported lower revenues than a year ago.
**The food price index rose by 0.2% in July, as in June.
Three of the six major grocery store food group indices rose during the month, while the other three fell in July.
The index for meat, poultry, fish and eggs rose by 0.7%, with the increase being strongest for eggs.
The index for cereals and bakery products fell by 0.5%, as did the index for dairy and related products.
