While Congress is finishing the last six appropriations bills for FY 2024 (with a deadline of this Friday), President Biden submitted his FY 2025 budget proposal last week with few changes proposed to USDA’s budget.
Overall, USDA spending under the President’s request is $231 billion, down from the forecast $238 billion in FY 2024 and up from $229 billion in FY 2023. That request assumes current law, i.e., the 2018 farm bill. Mandatory spending is comprised of program funding, such as crop support, conservation, and nutrition programs. Discretionary spending is the annually appropriated funds that are for salaries and operating funds for the year. The breakdown of mandatory spending projected for FY 2025 is shown...
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...
