On Wednesday of this week, the Congressional Budget Office (CBO) will release its “score” of the farm bill baseline. That is the cost projection of the farm bill programs to date and their continuation. It will be a fundamental driver for the federal budget and a benchmark of how much money will be allocated for the 2023 farm bill. Farm bills authorize programs in two spending categories: mandatory and discretionary. While both types of programs are important, mandatory programs usually dominate the farm bill debate. Programs with mandatory spending generally operate as entitlements, and the farm bill provides mandatory funding for programs based on multiyear budget estimates (baseline).
Mandatory funding provides fu...
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...
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...
