Falling crop prices and net cash farm income are juxtaposed against falling government farm program payments which will create lively debate when the new Congress starts working on the 2018 Farm Bill.
The 2014 farm bill doesn’t expire until 2018 but deliberations will start in earnest when the new Congress – which is being elected today – convenes in 2017. As has been observed many times in history, farm bills are often written to fix yesterday’s problems. The decision to eliminate direct payments and focus on shallow loss programs that was made as the world came off the commodity boom fits that mold. Net cash farm income in 2013, prior to the passage of the 2014 farm bill, was $135.6 billion but net cash farm inc...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
