​Easter spending is expected to reach $18.2 billion this year, narrowly down from last year’s $18.4 billion. According to the National Retail Federation and Prosper Insights & Analytics, this year is still the second-highest year on record. Eighty-one percent of Americans will celebrate the holiday, and the average expenditure is expected to reach $150 per person, or $2 per person shy of 2017’s record.

On March 13th, the Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA) announced an additional 90-day waiver on Congress’ electronic logging device (ELD) mandate. The waiver applies to agriculture-related transportation, which includes drivers who haul agricultural commodities, non-processed food, feed, fiber, or livestock. The original waiver, which was a 90-day waiver that was announced on November 20th, 2017, was set to expire March 18th, 2018. 

​The US Department of Agriculture (USDA) recently reported its expectations for 2018 net farm income, which included a forecast for a $4.3 billion, or 6.7%, decline to $59.5 billion. At $59.5 billion, this represents the lowest nominal income level since 2006. Similarly, inflation-adjusted, or “real” dollar, net farm income is expected to decline $5.4 billion, or 8.3%, from 2017, which is the lowest real-dollar level since 2002. Net cash farm income, which differs from net farm income by excluding certain non-cash items such as depreciation, is forecasted to decrease $6.7 billion, or 6.8%. 

According to the National Retail Federation, approximately 188.5 million people will watch the New England Patriots face the Philadelphia Eagles in Tom Brady’s eighth Super Bowl appearance. At $81.17 per person, the $15.3 billion is 8.5% above last year’s $14.1 billion.

System same-store sales decreased 1.7%, consisting of a 1.6% decline at franchise drive-ins and a 3.2% decline at company-owned drive-ins during Sonic Corp’s (NASDAQ: SONC) first quarter of 2018. Despite beating analyst estimates, CEO Cliff Hudson noted, “As expected, our first quarter same-store sales declined modestly versus prior year reflecting continued intense competitive pressure and unfavorable weather.”

Monsanto Company (NYSE: MON) issued its first quarter 2018 earnings on Thursday. The world’s largest seed company posted a 17.1% decline in sales in of corn seeds and traits, due to lower volumes in the US and Brazil. Soybean seed and traits sales increased 21.3% during the period. Total seed and genomic sales decreased 4.2% year over year to $1.77 billion, and total sales remained relatively unchanged, increasing just 0.3% to $2.66 billion.

​Marine Harvest, the world’s largest producer of Atlantic salmon, announced yesterday that it had entered a share purchase agreement to acquire Northern Harvest, a leading Canadian salmon farmer. 

Conagra Brands (NYSE: CAG) issued results today for its second quarter ended November 26th, 2017. 

After posting a decline of 3% in company-owned, same-store sales in the 52 weeks ended October 1, 2017, and a system-wide decrease of 1.4% in same-store sales, Jack in the Box (NASDAQ: JACK) has agreed to sell its Qdoba Restaurant Corporation subsidiary to Apollo Global Management (NYSE: APO) for $305 million in cash. ​

On Monday, Campbell Soup Company (NYSE: CPB) confirmed recent speculation by acquiring Snyder’s-Lance (NASDAQ: LNCE) for $50 per share in cash, representing a 27% premium to Snyder’s-Lance’s closing price on December 13th and an enterprise value of approximately $6.1 billion.