SoilMate’s Weekly News Digest #19
On today’s agenda: The rise of temperature in the Midwest of the USA and growing season, trends in agriculture investing, and more!
Severe drought in the Midwest of The US
Almost all the State of Iowa suffers from drought. According to the drought monitor maps of June 15, 40% of the state reported severe drought. Another 35 percent of Iowa suffers from moderate dehydration, and 19 percent of the territory is abnormally arid.
Like their western neighbors, many Illinois farmers already have enough moisture to grow crops this season. According to drought monitoring data from 15 June, about 80% of the state population did not report drought conditions.
Average temperatures in the week of June 7 were about 78 °F (more than 7°F) above normal. In the driest parts of northeastern Illinois, temperatures rose to 11°F above average between 8 and 15 June.
Trends in Agriculture Investing of 2020
The forecasts for venture capital in 2020 were at variance with reality. At the start of the pandemic in March 2020, much expected funding to slow due to constraints.
However, 2020 was a record year for businesses in the United States: $156 billion was invested in startups, and $74 billion was raised by venture funds. In addition, corporate venture capitalists nearly reached their peak in 2018, investing $68 billion.
Agricultural technology startups received a record level of venture capital in 2020, with $6.1 billion invested in this category, almost 60% more than in 2019.
Specific rice varieties can sustain yields in the face of climate change
According to a new study, local rice varieties in Vietnam can be used to grow improved crops with higher resilience to climate change.
The new genomic data obtained by scientists at the Earlham Institute will support efforts to develop sustainable rice crops for optimal global production.
Together with the diverse range of ecosystems, the unparalleled geography of Vietnam means that it has been blessed with a great variety of local rice varieties. However, climate change threatens its widespread availability. The weakest segments of the world’s population must be the most dependent on this culture, which is also the most threatened by climate change, which undermines the food and nutrition security of billions of people.
AgriIndustry will benefit from the 5-year US and the EU tariff suspension
The United States and the European Union have announced a compromise over a 17-year-old dispute that has arisen over aviation products, including agricultural products such as wine, alcohol, molasses, cheese, and much more.
The agreement means that the suspension of punitive tariffs, estimated at $11.5 billion, will continue for five years until the US and the EU unite and find a solution and work together to counter China’s aims to dominate key industries. The US Dairy Export Council and the National Milk Federation call on the EU to take further steps to ensure that trade in food and agricultural products does not fall in the coming months.