Farms.com Home   News

Farm Bureau Eager for Farm Bill to Progress

American Farm Bureau Federation President Zippy Duvall commented today on the House and Senate Agriculture committees releasing title-by-title overviews of the 2024 farm bill.

“AFBF appreciates the House and Senate Agriculture committees’ progress to enact a new, modernized farm bill this year. We’re encouraged to see both proposals acknowledge that programs farmers and ranchers across the country use require additional investment in the face of falling commodity prices and increased inflation. And both proposals recognize the important role farmers and ranchers play in protecting our land, water and air through voluntary, working lands conservation programs.

“Details are important, however, and there is still a lot of work to do. While there will inevitably be disagreements on specific provisions and funding levels of several programs, we encourage both chairs to hold a markup this month so that all members of the Agriculture committees can bring their ideas forward. We urge lawmakers on both sides of the aisle to work together in a bipartisan manner to find consensus and pass a farm bill before the extension expires this year.

Click here to see more...

Trending Video

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!