Agri-Pulse DriveTime

A GOP plan to reopen the government failed again today in the Upper Chamber. The American Soybean Association called on the Trump administration to resolve trade differences with China. A Brazilian crop agency is forecasting another season of record production for both corn and soybeans. 

President Trump today threatened to pull financial support for Argentina's economy and continued tariff and trade threats with China. The National Farmers Union today appealed to the White House and Congress to approve assistance for farmers. JBS USA plans a new processing plant in Iowa. 

President Trump is threatening to restrict technology exports and impose new 100% tariffs on Chinese imports following China's move to further restrict rare earth minerals. The American Farm Bureau sent letters to the Oval Office and Congress today appealing for help from the current farm economic crisis. 

Agriculture Secretary Brooke Rollins says the government will have to reopen before an aide package for U.S. farmers can be implemented. Treasury Secretary Scott Bessent says says the U.S. finalized a currency swap worth $20 billion dollars today with Argentina's central bank. China took action to further restrict the export of rare earth minerals. 

Iowa Senator Charles Grassley and Nebraska Senator Deb Fisher have both spoken out about the need for Congress to act to support farmers on multiple fronts. Advancing E-15 legislation, addressing high input costs and opening global markets for fair trade are on their list to bring balance to crop farmers. 

Today President Trump seemed willing to embrace free North American Trade between the U.S., Canada and Mexico whether in multilateral or bilateral deals. The government shutdown is impacting both conservation and nutrition programs under the USDA. 

Agri-Pulse reports today that over two hundred ag groups wrote President Trump requesting financial assistance. With no reports from the USDA traders are left with private forecasts for harvest progress and overall production. Brazilian farmers are off to a quick start planting soybeans. 

North Dakota Senator John Hoeven says the government shut-down could impact the Trump administration's announcement of an assistance package for crop farmers. Hoeven is featured on this week's Agri-Pulse Newsmakers and says there are multiple reasons for Washington to support farmers. 

Following a meeting in the Oval Office yesterday with President Trump and Ag Secretary Brooke Rollins, Treasury Secretary Scott Bessent today said an announcement is pending next week for an assistance package for crop farmers. The National Association of Wheat Growers has a new CEO and California now approves E-15 blended gasoline. 

Legislation failed again today to end the government shutdown. President Trump says he'll use tariff revenue to support farmers. Congressional leaders are working to amend policy to see funds are available for farm income support. 

The USDA's Grain Stocks report showed a greater September 1 stocks estimate of corn and wheat than traders expected.  Market watchers are looking ahead to the October WASDE report for updated production forecasts. That report and other government data hangs in the balance of a government shutdown. Deputy Ag Secretary Stephen Vaden says U.S. commodity price woes reach far beyond a single country. 

The political divide between Congressional Democrats and the White House remains as neither side appears to have offered to compromise over a Continuing Resolution to keep the government running. Traders expect the USDA's Quarterly Grain Stocks report tomorrow to show ample supplies of corn, wheat and soybeans.

NCGA President Kenneth Hartman says the association is pleased with the announcement that the USDA and DOJ will be looking closer into increased input costs crop farmers are facing. Soybean growers are assisting The Anderson's expansion at the Port of Houston. 

The Annual Agriculture Outlook Forum presented by the Agricultural Business Council of Kansas City and Agri-Pulse featured some of the nation's top agriculture leaders including U.S. Senator Roger Marshall and USDA Secretary Brooke Rollins. 

A recent survey by the National Corn Growers Association suggests high prices may see corn farmers cutting back on fertilizer use in the coming season. American Soybean Association President Caleb Ragland is frustrated the U.S. is offering financial assistance to Argentina at the same time the country is cutting commodity export taxes and displacing traditional U.S. sales to China. 

Iowa Senator Charles Grassley today addressed the budget impasse approaching the end of the fiscal year, the disparity in farm income between crop and livestock farmers and the continued lack of soybean export sales to China. 

The USDA reports New World Screwworm has been detected in an 8-month old cow just 70 miles south of the U.S. border.  The USDA continues a ban on Mexican cattle imports and vows to work to protect the domestic beef herd. The USDA's latest forecast suggests record returns for livestock producers and a continued decline in crop farm receipts. 

China's absence from the purchase of new crop soybeans and other commodities has been well documented. Terrain's Dr. John Newton says there's still time to reverse the trend. Newton is featured on this week's Agri-Pulse Newsmakers. 

Without a political solution analysts suggest it could be months before China returns to the U.S. for major commodity supplies. Witnesses today called on House members to shift control of the Food for Peace Program to the USDA. 

Questions remain on whether recommendations on food ingredients and vaccines are based on scientific fact or leadership opinion. John Bode with the Corn Refiners Association says their industry will suffer consequences and consumers pay more for food. 

For a fourth time President Trump has extended the deadline to find a deal on new ownership for the video social media site TikTok. President Trump and Xi still plan to discuss a framework agreement on Friday. ASA President Caleb Ragland says farmers need open markets now. 

The U.S. and China have reached a framework deal on ownership of social media platform TikTok. There were no reports of any agreement on soybeans or other ag commodities. McDonalds has announced a $200 million dollar investment in regenerative agriculture for U.S. cattle ranchers. 

U.S. and Chinese officials will meet in Madrid this weekend. Congress faces an end of fiscal year deadline for a new budget. Democratic leaders may hold out for concessions from the majority. USDA's WASDE forecast higher corn and soybean production but markets moved higher in Chicago. 

Calls from farmers and the agriculture industry for financial assistance and a new farm bill are growing louder from across the country. Nearly 300 members of the National Farmers Union are in Washington meeting with legislators. Rob Larew says farm program supports need to be evaluated.