The Senate is back in session today; the House of Representatives will return on 12 August. Top of the Congressional agenda will be funding the federal government for FY 2024 before the fiscal year ends on 30 September. So far, no appropriations bills have been passed; the House has taken up one (Military Construction) the Senate has taken up none.
Given that none of the 12 regular appropriations bills have passed, the first order of business will be cobbling together a continuing resolution (CR) for a short-term extension of government funding. Typically, a CR is just an extension of the current baseline spending, but there are a couple of issues that will force some “cobbling”. Those include disaster relief for...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
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...
