The Ogallala Aquifer Crisis: How Farmers Are Adapting to America’s Depleting Water Supply
If you farm anywhere across the Great Plains, chances are your operation depends on the Ogallala Aquifer, even if you don’t think about it every day. This massive underground water source stretches from South Dakota to Texas, covering about 174,000 square miles and providing close to 95% of the groundwater used for irrigation in the region (USGS). For decades, the Ogallala has quietly powered American agriculture, keeping crops like corn, soybeans, wheat, and cotton alive through long, dry summers. But this critical aquifer is shrinking fast. Decades of drought, extreme heat, and overuse have drained it faster than it can ...
LEONARD LUMBER REPORT: This market remains challenging
Recap: This market remains challenging. Last week, futures hit new lows almost every day, with all focus on the daily EFP deals. Most of the cash trades occurred at one mill, forcing the others to work hard to find value. This type of trade signals a bear market that is likely to continue. Throughout the year, the market has rallied because of the duties and tariffs, but without an increase in demand. Supply is tightening, but not at a pace to boost prices. We are waiting for signs of that scarcity. While we wait, there's a large gap between the ...
AG MARKET UPDATE: OCTOBER 27 – NOVEMBER 14
Corn’s Thursday rally was met with a post report Friday dip and gave up 10 cents back to $4.30. Despite the late season crop problems of drought and rust, the USDA did not find the corn yield loss that was expected and came in with a 186 bu/ac estimate, higher than the trade estimate. With higher production came higher US ending stocks, but those were not raised as much as yield as corn exports and domestic industrial demand has been exceptional this fall. The chart still looks constructive, but after a 30-cent rally in one month, the market will look ...
LEONARD LUMBER REPORT: “It’s the economy, stupid.” Remember that wise response to a reporter’s question many years ago?
Recap: "It's the economy, stupid." Remember that wise response to a reporter's question many years ago? After another muted reaction to another shutdown on Friday, I'm worried that it is a much bigger problem than rates and home prices. I keep going back and forth each month, wondering if there is something wrong in Mudville. With a continued contraction in supply, rates nearing 6% and flat employment numbers, one would expect some upside anxiety. The raw data has pointed to a better marketplace for about three years now. We are consumed by a flood of data that has repeatedly been ...
Leonard Lumber Report: It was another tough week as futures continue to decline
Recap: It was another tough week as futures continue to decline. January futures are down $88 in just two weeks. This decline is scaring away all buyers from the cash market. Last week, the only activity was EFP's layups. The market is showing signs of a shrinking business environment, even as reports still indicate steady sales. The main issue worsening the trade is inventories, which remain the key focus. Things have returned to a new normal pace. The slowdown occurred months ago, and the market is now settling into a slow rhythm. Once pipeline inventories decrease further, conditions will tighten ...
