The Senate passed the farm bill late last Thursday night by a vote of 86-11 with bipartisan support. In fact, more Democrats than Republicans voted for it.
The bill included a number of amendments to the original draft that were adopted en bloc in both committee and on the floor. Among the provisions of interest to clients are the following:
The Grassley amendment limits payments from crop programs to single individuals who are “actively engaged in farming.” It sets the standard at actual physical work and would disallow those owners who provide investment capital or other management contributions to the farming entity. The Heitkamp amendment allows the Market Access Program (MAP) to be used for Cuba. It was modified to d...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
