It comes as no surprise grocery proces have taken steep climbs in recent years.
New data from USDA shows just how much disposable income consumers are spending to put food on the table.
They found that in 2023, U.S. consumers spent around 11 percent of their disposable income on food, and that is right in line with spending levels in 2022.
“Food at home” purchases fell a couple of points during 2023, with “food away from home” jumping nearly half a percent.
They place the rise on more disposable income, with consumers starting to return to outside the home eateries.
Related Stories
Corn and cotton gave the strongest signals this week, while soybean demand remained softer than in the previous report.
Reliance on vegetable imports remains uneven, with domestic production still anchoring several major categories.
Farmland outlook is tracking closely with producer confidence, investment appetite, and financial expectations.
StoneX’s Josh Linville discusses USDA’s efforts to boost domestic fertilizer production and his outlook on supply and prices.
Landowners interested in protecting working ground through an easement now have another funding window open until the end of May.
Domestic demand policy may play a larger role if export competition continues to limit price recovery.
