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American Soybean Association--Stimulus Proposal, Ag Provisions

American Soybean Association--Stimulus Proposal, Ag Provisions
The House Agriculture Committee held a lengthy business meeting yesterday to officially organize and consider agricultural-related provisions of President Biden’s $1.9 trillion stimulus plan.
 
The stimulus consideration process was distinctly different than the path of past COVID relief packages. The congressional process of budget reconciliation is being used as a parliamentary tool to fast-track the stimulus legislation with a simple majority vote in the House and Senate.
 
Chairman David Scott (D-GA) described the stimulus provisions as a way to address needs that were not included in the December year-end COVID package. That December package included more than $11 billion in ag relief, including supplemental Coronavirus Food Assistance Program (CFAP) payments, which has not yet been implemented by USDA
 
The stimulus provisions approved by the committee on a party line vote include:
 
· $1 billion in assistance to and support for community-based organizations and 1890 Land Grant and other minority-serving institutions that work with Black farmers and other farmers of color on land access, financial training, heirs property issues, training the next generation and access to education
· Farm Loan Assistance for Black farmers and other farmers of color
· Extending 15% SNAP benefit increase through September 30, 2021
· $37 million to the Commodity Supplemental Food Program to fill a gap that has grown as food for this program has become scarcer during the pandemic
· $500 million in Community Facility Program funds to help rural hospitals and local communities broaden access to COVID-19 vaccines & food assistance
· $3.6 billion for the Secretary of Agriculture to continue to help the food and ag sector supply chains
· $100 million in overtime fee relief to small meat and poultry processors currently grappling with COVID-19-related backlogs
· $800 million for the Food for Peace program, including for purchases of U.S.-grown crops used in international humanitarian aid
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USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension


USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.