Lawmakers are resigned to the likely eventuality that the farm bill will be subject to an extension -- possibly up to a year, maybe shorter. The one hope of a quick farm bill seems to be its inclusion in some sort of budget agreement. The latest speculation on that front centers on the following:
Congress and the White House working toward a down payment on the deficit; Congress and the White House agreeing to parameters on a longer-term entitlement reform debate; The farm bill, with its $20 billion-plus savings, adjusted for partial or full year 2013 direct payments, and some other accounting transitions be added to the "down payment" bill; and, The Supplemental Nutrition Assistance Program (SNAP) being spun out of the farm bill a...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
