The fiscal cliff legislation that brought about the nine-month extension of the 2008 Farm Bill could mean that what nearly accomplished in terms of a new farm bill may start over as a whole new ball game. It is worth looking back at how we got to this point.In 2011, as per the Budget Control Act,
The debt ceiling was raised by $1.2 trillion in three steps: $400 billion immediately, then $500 billion, the remainder after Congress voted on a deficit reduction package and a constitutional balanced budget amendment, and the last tranche as necessary; Discretionary spending growth was capped by $917 billion over 10 years; and, A supercommittee was formed to craft $1.2 trillion in spending cuts over 10 years.
The supercommittee process fa...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Unlike the 2022 fertilizer shock, today’s disruption is rooted less in rerouted trade flows and more in damaged production capacity, raw material constraints and uncertain recovery timelines. That makes this a longer-duration risk for U.S. agricultural producers and retailers who must sec...
