Today's New From AgriFood Tech

Hello there!

Some exciting news to share today, as there's been some development in the world of AgriFood Tech.

We are thrilled to share the latest agricultural outlook for the upcoming 2023/24 season, freshly released by the U.S. Department of Agriculture. Prepare for a mix of projected increases and decreases across critical commodities. Let's dive into the exciting details:

In the world of grains, we have fascinating news. While U.S. wheat supplies and exports may be reduced, there's a silver lining. Increased domestic use and expansion in harvested areas will contribute to a modest increase in wheat production, reaching 1,659 million bushels. We anticipate a record-breaking wheat production of 789.8 million tons on the global stage, thanks to outstanding yields in various countries. Now, let's move to corn, where the outlook is remarkable. Again, brace yourselves for significant production, increased domestic use and exports, and higher ending stocks. We're projected to reach a record-breaking 15.3 billion bushels of corn. That's a jaw-dropping increase of over 10% compared to last year. And the excitement doesn't stop there - the global coarse grain outlook shares this enthusiasm, anticipating record production, use, and more extensive ending stocks.

In the world of crops, we have some fantastic updates too. Rice enthusiasts, rejoice! The U.S. rice outlook for 2023/24 promises more enormous supplies, exports, domestic use, and ending stocks. Increased harvested areas and higher expected yields fuel this. While competition from South America may pose challenges for U.S. long-grain exports, we remain optimistic. And let's remember soybeans! The 2023/24 outlook projects higher supplies, crush, and ending stocks, although exports might decrease slightly. With a 5% rise in the soybean crop, we're looking at an impressive 4.51 billion bushels. Higher yields are paving the way for this soybean success story.

Lithuania's agricultural landscape takes a significant leap forward with the opening of Leafood vertical farm in Vilnius. This cutting-edge farm offers pesticide-free salads and herbs grown locally, and the first harvest is now available at select IKI grocery stores across the country. Leafood's range includes a variety of produce, such as Romaine, Lollo Rosso, Spinach, Basil, and more, all ready to eat and packaged in reclosable containers. With advanced indoor cultivation technology from YesHealth Group, the products are free from pesticides and have an extended shelf life of 7-10 days.

Leafood's vertical farming method provides Lithuania with a resilient and climate change-resistant food system. By eliminating the reliance on seasonal conditions and using renewable energy, the farm can ensure year-round cultivation with efficient space utilization and reduced water usage. The localized supply chain and no pesticides make the product a sustainable and healthy choice. Leafood's mission to shift dietary habits aligns with Lithuania's goal of improving public health by addressing low fruit and vegetable intake and high sugar-sweetened beverage consumption.

With the support of local investors and the expertise of YesHealth Group, Leafood brings accessible, locally-grown produce to Lithuanian consumers, contributing to a more sustainable and healthier food future.

Finally, Growlink, a pioneer in smart agriculture technology and IoT solutions for the Controlled Environment Agriculture (CEA) industry, has announced the acquisition of FloEnvy, a company specializing in cultivation management software for greenhouses and indoor farms. This strategic move marks a significant milestone for Growlink as it expands its product and service offerings, empowering growers with advanced technology and data-driven insights to maximize crop yields, improve quality, and minimize resource waste.

By integrating FloEnvy's cultivation workflow optimization and data analytics capabilities, Growlink will create a comprehensive intelligent farming platform tailored to growers of all sizes. Ted Tanner, CEO of Growlink, emphasized the company's mission to give growers complete control over their facilities and crops. The addition of FloEnvy's technology enhances their ability to help growers monitor, control, analyze, and predict crop yields from any location, bringing workflow management and data-driven decision-making to the forefront.

The acquisition positions Growlink as a leading innovative solution provider that integrates environmental controls, crop management, and workflow optimization tools. This holistic approach to smart agriculture empowers growers to make informed decisions based on real-time data, ultimately enhancing crop quality, yield, and resource efficiency. In addition, the integration with Metrc, a cannabis seed-to-sale system, allows Growlink customers to track plants and inventory in real time, gaining insights into environmental variables impacting harvest performance and streamlining data analysis. With these advancements, Growlink is set to revolutionize the industry and drive sustainable farming practices forward.

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