With Congress adjourned for the Independence Day recess, it's worthwhile to provide an update on the political landscape against which the farm bill will be considered (see WPI 25 June). Since the Senate approved its version of the 2012 Farm Bill in a bipartisan vote, the House and Senate passed the conference version of the transportation bill by 373-52 and 74-19, respectively. The bill provides funding for transportation through 2014, extends the National Flood Insurance Program for five years and, in another "must do" piece of congressional action prevents student loans from doubling to 6.8 percent interest rate as of today.There are two key provisions for agriculture:
Regarding trucks crossing state lines, there is an exemption for a...
Key Takeaways: President Trump announced $8 billion in additional agricultural assistance through the Harvest Fuel Relief Program, as USDA projects farm fuel and oil expenses will increase 28.8 percent in 2026. The package follows $12 billion in earlier relief, while government farm payments w...
Key Takeaways: A student group from the University of Chicago is protesting to bring back onion futures trading. Trading in onion futures was banned in 1958 following a spectacular bout of market manipulation that resulted in a corner of the physical market. The ban on onion futures led t...
Beef packer margins deteriorated to $141/head last week, down $55 from the prior week as fed cattle prices strengthened while the Choice cutout remained nearly unchanged. The cutout held near $373/cwt while fed cattle prices climbed $4/cwt to $224/cwt, narrowing processor profits. Despite the d...
