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ASA, CSSA, AND SSSA Release Priorities For The 2023 Farm Bill

By Rachel K. Owen

The American Society of Agronomy (ASA), Crop Science Society of America (CSSA) and Soil Science Society of America (SSSA) represent nearly 8,000 scientists in academia, industry, and government. We also support a nationwide network of more than 13,300 Certified Crop Advisers (CCA) and over 700 Certified Professional Soil Scientists (CPSS) who work directly with farmers, many as technical service providers (TSPs). Our members and certified professionals are dedicated to meeting the demands of a growing world population through the pursuit and application of agronomic, crop and soil science knowledge.

In the past year, global challenges have pushed agricultural production systems past the tipping point of resiliency and threatened nutritional security. The 2023 Farm Bill can help America overcome these challenges and build resiliency for the future. This bill can prepare American agriculture for future threats to our food system by fostering growth, sparking innovation, and accelerating research translation. America’s robust and diverse agricultural productivity stems from past Federal investments in agricultural science and technology research being translated to farmers through on-farm advisers and outreach specialists. Research investments have helped U.S. farmers through droughts and floods, pests, and pathogens, and changing consumer tastes while simultaneously promoting sustainability and soil health. They help provide Americans with safe, nutritious, and affordable food.

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U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!