Agri-Pulse DriveTime

Senate Agriculture Committee Chairman John Boozman has a goal of completing a new farm bill in "weeks not months". Committee Ranking Member Amy Klobuchar says Democrats have some priorities for the new policy including pushing back on SNAP cost share dollars for states. 

The Agri-Pulse Ag and Food Policy Summit today was a huge success today at the National Press Club. House Agriculture Committee Chairman Glenn "GT" Thompson says work is underway to see the committee's farm bill approved in the House. EPA Administrator Lee Zeldin says new RVO numbers will be released by the end of the month and USTR Ambassador Julie Callahan says the U.S. trade balance is slowly i...

Senate Majority Leader John Thune introduced bipartisan legislation to increase transparency in fertilizer price discovery. Cattle placed in feedlots during February were well above a year ago. Wildfires have burned over 800,000 acres in Nebraska. Thousands of head of cattle are left without pastures as fires are still burning in the state. 

The Trump administration funding request to help support the war with Iran drew the ire of Senate Minority Leader Chuck Schumer. Over fifty farm groups sent a letter to the White House and Congress requesting additional assistance funds and a more certain revenue outlook through both legislation and regulations. Drought in the Plains states is helping to drive Chicago wheat prices higher. 

The Fed Reserve left short term interest rates unchanged, but still projects a rate cut this year. The Trump administration took action to lower shipping costs in an attempt to soften rising fuel and fertilizer costs. The war with Iran is making a shift to energy resources. 

While signup and participation in the USDA Bridge Assistance program is said to be running smoothly for row crop producers, representatives of specialty crop growers in the country say acreage reporting is a challenge and payment rates aren't yet clear. Both agree assistance for specialty crop growers grossly understates producer revenue losses. 

A possible delay in President Trump's visit later this month to China pressed soybean prices. USDA Undersecretary Richard Fordyce says signup for the USDA's Bridge Assistance Program has made excellent progress. National Corn Growers Association President Jed Bower says farmers recognize the urgency of getting E15 approved. 

Two major commodity organizations are calling for fertilizer manufacturers to drop their support for countervailing duties on nutrient imports. A report this week suggests China is outspending the U.S. on public agriculture research. NOAA Climate forecasters indicate a possible shift to warm and dry weather for the Midwest growing season. 

Evidence from farm country points to ongoing financial challenges and the threat of farm losses this year. The war with Iran is pushing fuel and fertilizer prices higher and adding to economic headwinds for farmers nationwide. 

North Dakota Senator John Hoeven says additional funding for the war with Iran could prove a vehicle to send more financial support for farmers and victims of wildfires. Food prices ticked up in the month of February and a new study suggests Food Is Medicine could provide a financial support for small and medium sized farms. 

The Senate Agriculture Committee held a hearing today focused on strengthening domestic markets for products grown in the U.S.  National Farmers Union President Rob Larew says the farm economic crisis will claim another generation of farmers if Washington doesn't act soon. 

The war with Iran and stalled shipping through the Straight of Hormuz is limiting supplies of both crude oil and fertilizer to the rest of the world. Crude prices spiked to near $120 dollars a barrel today. The American Farm Bureau today called on Washington and fertilizer suppliers to help farmers through the economic challenges they are facing. 

Domestic and global crude oil prices both settled over $90 per barrel today. A lack of shipments from the region has storage at capacity and production grinding to a halt. In Washington, legislation to allow E15 blended gasoline year-round is nearing completion. EPA Administrator Lee Zeldin will keynote this year's Agri-Pulse Ag and Food Policy Summit. 

Agriculture groups shared support for a new farm bill approved by the House Ag Committee realizing much work lies ahead to seeing final language approved by Congress and signed by the President. Iowa farmer Stu Swanson says row crop farmers are facing many challenges. 

Approving a stand-alone farm bill is proving to be an uphill climb. Division along party lines was evident in opening statements in the House Agriculture Committee. South Dakota Representative Dusty Johnson says key issues are split along party lines. Iowa Senator Charles Grassley hopes for progress on a farm bill and E15 legislation. 

As the Middle East conflict continues, crude, diesel and gasoline prices continue to climb. In a Truth Social post, President Trump suggested political risk insurance and Navy escorts for tankers and other ships through the Strait of Hormuz. The latest farmer opinion survey suggests a slight improvement in their financial outlook, but still increased financial pressure compared to a year ago. 

The U.S. conflict with Iran has led to a sharp rally in crude oil prices and gasoline. Higher energy costs and the threat of a major shipping lane is leading to fears that an extended conflict could spark inflation. Renewable fuel advocates say the action is just another reason for Congress to approve legislation to sell E15 gasoline year-round. 

Tension is rising between the U.S. and Iran. Nuclear talks will resume next week between the two sides as President Trump adds to the military presence in the region. The U.S. will launch biotech investigations against China. Agriculture Secretary Brooke Rollins says the border will stay closed to Mexican cattle imports as active NWS cases continue to grow. 

American Farm Bureau President Zippy Duvall encouraged House Agriculture Committee members to approve a new farm bill when they consider policy next week. Duvall called on Senate Ag leaders to do likewise.  Duvall says farmers are grateful for Bridge Assistance payments but said Congress needs to approve additional funds for struggling producers. 

The safety of glyphosate was debated at today's Senate Confirmation Hearing for Casey Means as U.S. Surgeon General. A farm lender says significant economic challenges could be ahead if Congress doesn't act to improve domestic crop consumption.  Corn growers took to their phones to share their frustration on E-15 legislation.  

USDA Undersecretary for Farm Production and Conservation Richard Fordyce reports farmer participation in the Bridge Assistance Program is off to an excellent start. American Soybean Association CEO Steve Censky hopes for strong RVO numbers from the EPA and additional financial assistance for producers from Congress. 

Two commodity grower leaders say Congress has the power to improve the financial outlook for corn and soybean growers.  American Soybean Association Chairman Caleb Ragland says farmers need the certainty of a new farm bill.  National Corn Growers Chairman Kenneth Hartman says Bridge Assistance is welcomed but they need the additional demand that would come from E-15.

In a 6-3 decision, the Supreme Court today ruled against the Trump administration's use of emergency powers to impose tariffs on U.S. trading partners. The Justices said Congress, not the president, has the constitutional authority to levy tariffs. Following the ruling Trump said he would use a combination of statutes to replicate some of the emergency tariffs. 

The USDA sees a modest easing in crop inputs and a slight increase in some commodity prices for the coming crop year. As expected the department's analysis sees fewer acres planted to corn and larger soybean acreage for the coming year. A bipartisan Soils Caucus has been launched for the 119th Congress. 

Sources suggest the Environmental Protection Agency is expected to submit proposed biofuel blending quotas to the White House this week. The Trump administration hopes to finalize the measures by the end of March. Health and environmental groups are posing a legal challenge to the EPA's recission of the endangerment finding. The USDA's 102nd Outlook Forum begins tomorrow in Crystal City.