April 17, 2020

2020-04 Purdue Agricultural Economics Report (PAER)

by: Jayson Lusk, Renee Wiatt, Maria Marshall, Farzard Taheripour, James Mintert, Mindy Mallory, Michael Langemeier, Larry DeBoer, Chinonso Ezenwa Etumnu, Ahmad Zia Wahdat, Michael Gunderson, Kami Goodwin, and Linda Klotz.

In this Purdue Ag Econ Report (PAER) special edition, we look at COVID-19 impacts on agriculture and related topics, including:

  • Retail food markets
  • SBA help for business
  • Ethanol demand
  • U.S. soybean and wheat exports
  • Threats to local government revenue
  • Online grocery pricing
  • Consumption and risk behavior after natural disasters

ARTICLES WITHIN PUBLICATION:

Retail Markets Get a Boost During COVID-19

April 13, 2020

The declaration of a national emergency on March 13, 2020 by President Donald Trump, and the corresponding state stay-at-home measures, caused significant disruptions in retail food markets. Consumers turned to grocery stores and supermarkets, where the increase in demand, coupled with concerns about future reduced mobility and scarcity, led to a surge in foot traffic and sales.

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SBA Help for Small (and Family) Businesses

April 13, 2020

The President has signed the CARES (Coronavirus Aid, Relief, and Economic Security) Act into law. The CARES Act provides potential relief for employees and businesses.

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COVID-19 Weakens Ethanol Demand Leading to Reduction in Corn Usage Forecast

April 13, 2020

The decline in oil and gasoline prices that started prior to the advent of COVID-19, combined with weak consumer demand for gasoline as a result of recent orders for consumers to shelter in place and the U.S. economy’s descent into recession, makes it clear that corn usage will be much lower than was forecast earlier this year.

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Short-Term Effects of COVID-19 on U.S. Soybean and Wheat Exports

April 13, 2020

Consideration of very near term impacts the COVID-19 crisis could have on U.S. exports of soybeans and wheat. Exports of soybeans and wheat especially could be impacted by two aspects of the crisis: case flare-ups during peak seasonal export times for major exporters and geopolitical tensions sparked by the virus.

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Changing Crop Net Return Prospects

April 13, 2020

COVID-19 has resulted in widespread changes in crop and livestock prices. This article discusses the change in net return prospects for corn and soybeans that has occurred since late January, and compares net farm income per acre for 2020 to net farm income for recent years.

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Threats to Local Government Revenues from the Coronavirus Recession

April 13, 2020

The coronavirus recession is upon us. Unemployment is rising to double-digits, incomes are falling, and spending on non-essential products has dropped. Many people are sick; many more people face hardships.

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COVID-19 and Online Grocery Prices

April 13, 2020

Will the COVID-19 pandemic cause an increase in online grocery buying? The current global pandemic has resulted in stay-at-home orders and shutdowns in several parts of the United States, which suggests a likely increase in grocery e-commerce.

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Specialty Farm Households’ Consumption and Risk Behavior After Natural Disasters

April 13, 2020

The wet spring and summer of 2019 and 2020, along with COVID-19, could have a compounding negative effect on farm income in the Midwest. A natural question that arises is whether farm income losses have implications for farm household consumption and well-being.

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UPCOMING EVENTS

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Coronavirus Food Assistance Program Application Details

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