After record floods in 2019, northern Illinois is now experiencing a severe drought, the likes of which have not been seen in more than 30 years. That means the soil is drying out, and without significant rainfall some farmers could begin to lose crops. (WTTW)

In the U.S. cattle industry, the supply chain is dominated by just four meatpacking conglomerates, and their profits are raising tensions. While diners at restaurants and shoppers in grocery stores experience sticker shock from sharply higher prices for ground beef and prime steaks, ranchers say they are barely breaking even or, in some cases, losing money. (New York Times)

The Illinois Farm Bureau does not support a new farm inheritance tax set forth by the Biden Administration. According to IFB President Richard Guebert, some farmers could have to sell off land to make the difference under the new proposal, hurting farmers inheriting the land. (WJBC)

More than half of Illinois farmland is rented, according to data from the U.S. Department of Agriculture. Landlords arguably play a smaller role when they simply rent the land for a flat fee, which can lead to differences in conservation practices used on the land. (KCUR)  

Soybeans dropped in overnight trading, weekly export inspections of corn lowered and some isolated storms are forecast for late this afternoon in the Oklahoma and Texas panhandles. (Successful Farming)  

President Joe Biden expects to meet with lawmakers this week as a group of Democrats and Republicans try to forge an infrastructure plan that could get through Congress with bipartisan support, White House press secretary Jen Psaki said Monday. (CNBC)