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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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Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?


Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
2026 U.S. winter wheat planting is nearly complete at 97% while crop conditions improved by 3 points to 48% good-to-excellent. US corn & soybean harvest is complete.
High corn demand, which is off the chart, and more Chinese soybean demand could support a Christmas rally.
Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
Fertilizer prices continue to climb as we look ahead to 2026. Farmers may rely more on the nutrients that they already have in their soils.
South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.