Last week on Friday 17 May, WPI outlined the commodity program proposals in the House farm bill draft. Below are some key changes in the conservation and trade titles. The Committee hails its reforms to the Conservation Reserve Program (CRP) as the first attempt at clarifying and simplifying the program since it was created in the 1985 farm bill. The first is incentivizing the enrollment of marginal lands by basing rental rates on the “land capability classification.” That classification shows the suitability for soils for crop production; the suitability for crop production decreases progressively along the seven categories. The proposed CRP rental rates would be as follows:
Class 1 & 2: 85 percent of the county average...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
