Farm Foreclosures Feared; Monsanto Dicamba Complaint
**Over the next five years, an increase in farm loan foreclosures is expected by some bankers.
That’s according to the Creighton University Rural Mainstreet Index, a monthly rating from a survey of community banking leaders in nonurban agriculturally and energy-dependent portions in a 10-state area.
Creighton’s Ernie Goss says because of weak farm income and low ag commodity prices, about 9.5% of bank CEOs expect farm loan foreclosures to pose the greatest threat to banking operations over the next five years.
**More on the Monsanto suit filed last week against Arkansas Ag officials to stop a proposed ban on a weed killer linked to widespread crop damage.
According to Agriculture.com, the lawsuit seeks to block the State Plant Board from prohibiting the use of dicamba herbicides during summer when sprayed on soybeans and cotton.
But, growers across the farm belt say dicamba hit areas other than where it was sprayed, damaging millions of acres of other crops.
Chemical companies have blamed the farmer’s misuse of dicamba.
**Cargill, the nation’s largest privately-owned company, signed a binding agreement to acquire Diamond V, a leading global provider of innovative natural solutions and technologies that improve animal health, animal performance, and food safety.
According to Agri-Pulse, this investment will enable Cargill's animal nutrition business to better serve customers who are increasingly turning to unique natural technologies to unlock the potential in feed to promote healthier animals. Terms of the deal were not disclosed.