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Conferees Begin Farm Bill Negotiations

Lawmakers to Narrow Gap between House and Senate Food Stamp Cuts

By Amanda Brodhagen, Farms.com

It’s a tough job ahead of 41 farm bill conferees as they begin to reconcile the House and Senate versions on a renewed five-year food and farm policy, Wednesday.

The talks will largely center on food stamps. Lawmakers are tasked to reconcile $40 billion in cuts to nutrition programs proposed by the Republican-led House, while the Senate version would only cut about $400 million.

On the eve of conference negotiations, a coalition of 250 farm lobby groups reinforced the importance of a renewed farm bill, and the need for permanent law provisions. The groups also urged Congress to include a “meaningful nutrition title,” which can be signed by President Obama.

Proceedings on the bipartisan farm bill can be viewed live here at 2:30p.m. (ET): http://agriculture.house.gov.
 


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Funds Ditch Ag Commodities, Chase Stocks Amid an End to Middle East War, & Trade Deal Buzz

Video: Funds Ditch Ag Commodities, Chase Stocks Amid an End to Middle East War, & Trade Deal Buzz


The 12-day war between Iran-Israel came to an end sending crude oil futures plunging as the big fund speculators removed the war risk premium.

The weather risk premium in the Ag complex is sending corn, wheat and soybean futures lower on month-end selling ahead of the market moving USDA quarterly grain stocks and acreage reports on June 30th.

Instead, funds were chasing and sending tech stocks higher with the S&P 500/NASDAQ indexes setting new all-time record highs!

June 1 USDA Hogs and pigs report was slightly bearish while the U.S. $ Index traded to new contract lows as the de-dollarization that began in 2014 continues.

Feed in the form of soybean meal futures for livestock producers got cheaper, trading to new contract lows.

The Stats Canada seeded acreage update was bullish canola and wheat.