The House budget resolution has no specific instructions in the reconciliation package regarding spending cuts to farm and nutrition programs nor suggested reforms to achieve deficit reduction.
The House Budget Committee will consider the FY 2018 budget resolution tomorrow, which it indicated gives reconciliation instructions to 11 House committees with a target of at least $203 billion in mandatory savings and reforms, a sum very much in keeping with expectations. That total is equal to a 1 percent, across-the-board cut to federal mandatory spending programs.As previously noted (see Ag Perspectives, 10 July), a 1 percent reduction to farm program spending would be the equivalent of $600 million over the next 10 years. The total proposed...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
