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$112M boost in NRCS funds for Iowa agriculture

Dec 10, 2024
By Farms.com

Historic funding to address Iowa’s farming challenges

In an unprecedented move, the USDA's Natural Resources Conservation Service (NRCS) has obligated a record-breaking $112.1 million to conservation efforts in Iowa for FY24.

Through nearly 2,000 conservation program contracts, this funding will support practices aimed at combating soil erosion and enhancing water quality over almost 400,000 acres of farmland.

This funding is a mix of $47.2 million from the Inflation Reduction Act, which emphasizes climate-smart agriculture, and $64.9 million from the extended 2018 Farm Bill, reflecting a growing recognition of the need for sustainable agricultural practices.

Iowa NRCS State Conservationist Jon Hubbert highlighted the comprehensive benefits of the initiative, saying, "Not only are practices like cover crops, no-till farming, and tree planting good for air quality, but they can also benefit the soil, water quality, and provide wildlife habitat."

The strategic distribution of these funds demonstrates NRCS’s commitment to fortifying Iowa's agricultural sectors against environmental challenges while promoting sustainability and resilience.

This approach ensures that Iowa’s agriculture remains competitive and sustainable, catering to the needs of both the present and future generations.


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Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.