The long-term CR is likely to be based on the budget resolution, and the cuts to mandatory spending are likely to be in any such legislation that appears in December, creating the same battle as last year (only on slightly different parliamentary turf) that led to a government shutdown.
Here’s an update on fiscal policy, which will be the primary issue in Congress over the last few months of the current session. First, Congress passed a clean continuing resolution (CR) last week; clean means that it was strictly limited to funding the government without making any policy changes, budgetary or otherwise. That avoided a government shutdown on the first day of the new fiscal year, 1 October. Recall that one occurred last year due to a...
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...
