The Administration is asking Congress for $33 billion to address food shortages caused by the war in Ukraine and to assist Ukraine. Of that total, $500 million will go toward making temporary changes to farm bill programs for the remaining two years of its authorization. Provisions include:
$400 million for higher marketing loan rates for crops typically in food aid packages – wheat, rice, pulses, soybeans, sunflower, and canola; marketing loans would be extended to 12 months from their current 9; and $100 million for crop insurance incentives at $10 per acre to incentivize double cropping soybeans planted after a winter wheat in 2023 to increase winter wheat production.
USDA’s rationale is that extend...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
