CLA Congratulates Secretary Perdue On His Appointment

Apr 26, 2017

The U.S. Senate confirmed Former Georgia Governor George “Sonny” Perdue yesterday as U.S. Department of Agriculture (USDA) Secretary. Secretary Perdue began his career as a veterinarian before starting three small businesses and becoming involved in public service. He is only the second Secretary of Agriculture to hail from the Deep South. CropLife America (CLA) and many others within the agriculture industry are hopeful that Secretary Perdue will be receptive to addressing the concerns and priorities of America’s farmers and ranchers.

“With the confirmation of Secretary Perdue, we can get to work on national policies that support U.S. agriculture and restore farm profitability,” stated Jay Vroom, president and CEO of CLA. “We’ve already seen positive action, with the House Committee on Agriculture passing the re-authorization of the Pesticide Registration Improvement Act as well as the Reducing Regulatory Burdens Act. Secretary Perdue is poised to make a truly positive impact on farming in this country. We look forward to acting as a resource on crop protection products and working with him on policies that increase farmer access to the most advanced pesticide technology developed.”

Source:CropLife America

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!