Farms.com Home   Ag Industry News

Saturday, February 7 marks one year anniversary of 2014 Farm Bill

Farm Bill brought more funding to a variety of agriculture initiatives

By Diego Flammini, Farms.com

There’s a very special anniversary taking place on Saturday, February 7.

It was on February 7, 2014 that US President Barack Obama signed the 2014 Farm Bill into law.

At the time, the US Senate Committee on Agriculture, Nutrition & Forestry called it “the most significant reform of American agriculture policy in decades.” The bill reduces the country’s deficit by $23 billion.

On the eve of the anniversary, Secretary Tom Vilsack said the legislation affects more than just farmers and food producers.

"Thanks to the Farm Bill, farmers have a common-sense risk management system in place to protect their families and livelihoods from future disasters,” he said in a release. “It's helped families become first time home buyers. It's supported rural businesses as they grow and create jobs. Communities have clean drinking water, some for the first time. Farm Bill disaster assistance programs have helped to rebuild lives.”

Almost every aspect of agriculture in the United States is set to benefit from the 2014 Farm Bill including providing $100 million in funding for the Beginning Farmers and Ranchers Development Program, $200 million for an agricultural research foundation, $150 million for water and wastewater support and restored disaster assistance back to 2011 and is going to establish a permanent program for livestock disaster.


 


Trending Video

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.