For the first time since 2009 (FY 2010), Congress actually passed a budget resolution this year. It sets the broad outline of authorized mandatory and appropriated discretionary spending. However, no final appropriations bills have been passed that meet its strictures.
The federal government's FY 2016 starts in 19 days. As can be seen in the table below, no appropriations bill for the new fiscal year has progressed to the point of going to conference. In fact, no bill has passed the full Senate, and the House is only halfway through the 12 bills. Similar to recent past years, some kind of extension of current year spending is likely to be taken up by Congress as time is running out.Four years ago, the federal budget process started with...
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...
