Union Pacific has announced plans to merge with Norfolk Southern, creating the first transcontinental railroad in the United States.
Both systems are major transporters of U.S. ag goods. The two announced they will combine forces, creating a system worth $250 billion. Mike Steenhoek with the Soy Transportation Coalition says there could be some concern around consolidation, but he adds that rail lines are crucial to the success of farmers and U.S. agriculture as a whole.
An investor call was announced this morning for stakeholders.
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In a final rule published in the Federal Register, the Department states that it will no longer base wage rates on the Farm Labor Survey.
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Farmers are in the midst of harvest as the government descends into a shutdown and the Farm Bill expires. Key federal departments, crop reporting, and aid programs important to the agricultural sector are now on hold.
Jeramy Stephens, with National Land Realty, says that despite today’s economic headwinds, farmland remains a resilient asset — and understanding local conditions is key to making sound decisions.
