The 2018 Farm Bill debate just got a jump start with the submission of the president’s budget plan that includes a number of related reform proposals.
Office of Management and Budget (OMB) Director Mick Mulvaney unveiled the Trump administration’s FY 2018 budget today. For agriculture, it includes $15.11 billion in programmatic cuts to USDA’s portfolio, another $2.99 in additional user fees, and $65.517 in cuts and fees for the Supplemental Nutrition Assistance Program (SNAP).Mandatory program cuts (outside of farm bill reforms) include the following with savings generated over FY 2018-22 noted:
Elimination of interest payments to electric and telecommunications utilities - $685 million Elimination of the Rural Econ...
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...
