Federal spending is still front and center, and it is also an election year. The best bet for this year is that there will not be a congressional budget.
The Federal Budget and Impoundment Control Act was enacted by Congress in July 1974 as a response to President Nixon simply taking appropriation matters into his own hands and refusing to spend monies as Congress had designated and authorized. That is also when the federal budget moved to a fiscal year starting with a transition quarter in FY 1976. Since that time, the federal budget has grown about 987 percent (as shown below). Over that same period, inflation has increased about 335 percent. In other words, federal spending in real terms has expanded approximately 295 percent.The pres...
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...
