With inflation and the hitting two quarters of negative GDP growth, the Democrats badly need a legislative win to bolster their chances in the mid-term elections. Senator Joe Manchin (D-West Virginia) has provide them with that opportunity. He conceded to a $700 billion package that includes:
There is still no guarantee Democrats can get this package through Congress even while using the extra flexibilities under the budget reconciliation procedures. One red flag is the proposed $124 billion in revenues from increased tax enforcement since history suggests the results are never as much as proposed. Also, the use of union labor wage rates will reduce the expected benefits of the bill, and the problem has not always been getting the leases...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
