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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, December 25, 2024
July reports from the Department of Agriculture offered little surprise to traders, including when USDA stuck with the much-maligned June Acreage report data.
Grain traders are still unsure of actual planted cropland after USDA dropped planted corn acres estimates by just over 1 million in its June Acreage report Friday. Many traders find that difficult to believe after farmers in the eastern Corn Belt struggled to plant a crop this spring.
Farmers in five Midwest states have claimed almost half of the $8.5 billion in trade assistance payments that USDA has provided so far as compensation for losses due to retaliatory tariffs.
The House on Monday finally cleared a $19.1 billion disaster aid package that will benefit farmers and communities who suffered from a series of natural disasters stretching back nine months.
Traders saw very few if any surprises in USDA’s World Agriculture Supply and Demand Report released Friday and will eye weather as the next potential market mover.
U.S. and Chinese negotiators are in Beijing this week trying to strike agreements to end the countries’ trade war, but the damage has already been done for the U.S. ag sector and farmers say some of it is irreversible.
Cotton growers have been patient with President Donald Trump’s trade war with China, by far their most important customer. After all, they’ve had their own frustrations with China for years. But cotton growers say that patience is running short as planting season nears.
The partial government shutdown that has shuttered much of USDA, the Interior Department and other agencies heads into its third week amid weekend discussions over President Donald Trump’s demand for border wall funding.
Lawmakers face a packed agenda when the new Congress begins on Thursday, starting with finding a resolution to the government shutdown that hit USDA, the Interior Department and other departments and agencies in December.
USDA, EPA and the Interior Department could all shut down at the end of this week unless lawmakers can reach a deal on President Trump’s funding demands for the border wall.
