Agri-Pulse DriveTime

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. 

Bayer announced a proposed multi-billion dollar settlement between its indirect subsidiary Monsanto and plaintiffs alleging exposure to Roundup caused cancer. The settlement was filed today in the Circuit Court of the City of St. Louis. The USDA today announced proposed updates to federal line speed regulations in poultry and pork establishments operating under modern inspection systems. CoBank ex...

House Agriculture Committee Chairman Glenn "GT" Thompson released the text of Farm Bill 2.0 today. Debate on the measure is scheduled to begin Monday, February 23rd. The Chicago Fed Reserve Bank reports higher land values over the previous year but expects agriculture credit conditions to decline this year. The Supreme Court could rule later this month on President Trump's tariffs. 

Senate GOP leaders abdicated for the USMCA trade agreement this week in contrast to the Trump administrations indifference to the upcoming review of the North American deal. A Chinese news agency suggests a thawing of relations with the U.S. and an extension of the trade truce. The USDA has issued new guidance to child nutrition program directors. 

Florida officials are raising concerns about pesticide traces in bread. Industry sources share the highest samples are well below government accepted limits. The Congressional council charged with developing a renewable fuel compromise faces a February 15 deadline. 

The Ag Coalition for the U.S., Mexico, Canada Trade Agreement shared new study results of the benefits of the 2020 trade deal including half a million jobs and  $149 billion dollars in total economic output. Today's USDA's WASDE report held few surprises for traders to consider.