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AFBF to President Biden: You Let Farmers Down

AFBF to President Biden: You Let Farmers Down

American Farm Bureau Federation President Zippy Duvall commented on President Biden’s decision to veto the Congressional Review Act (CRA) joint resolution that would have overturned the Environmental Protection Agency’s overreaching Waters of the United States (WOTUS) rule. The CRA was a bipartisan, bicameral effort by Congress to halt implementation of the flawed rule.

“This veto flies in the face of President Biden’s promise to support farmers and ranchers. This rule is a clear case of government overreach that leaves farmers wondering whether they can farm their own land. It’s a shame the President is standing with bureaucrats instead of with the people who stock America’s pantries.

“The President’s decision to disregard the bipartisan will of Congress also causes farmers, ranchers and all Americans to doubt his often-repeated commitment to work with Congress when Members come together on a bipartisan basis. They did so and he rejected their will with the stroke of a pen. Mr. President, you let us down.”

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U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
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As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
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Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!