The House budget resolution has no specific instructions in the reconciliation package regarding spending cuts to farm and nutrition programs nor suggested reforms to achieve deficit reduction.
The House Budget Committee will consider the FY 2018 budget resolution tomorrow, which it indicated gives reconciliation instructions to 11 House committees with a target of at least $203 billion in mandatory savings and reforms, a sum very much in keeping with expectations. That total is equal to a 1 percent, across-the-board cut to federal mandatory spending programs.As previously noted (see Ag Perspectives, 10 July), a 1 percent reduction to farm program spending would be the equivalent of $600 million over the next 10 years. The total proposed...
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...
