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Gov. Sonny Perdue: A Strong Choice For Secretary Of Agriculture

I come from a state where rural communities serve as the bedrock to our culture and economy. A place where the importance of local leaders—school board members, church deacons and hospital board trustees—is recognized and encouraged. A place where farmers and ranchers are held in high regard, not just for producing the safest, most affordable food and fiber in the world, but because of their work ethic, moral standards and decency. Family farmers and ranchers drive the Kansas rural economy, while at the same time, they rely on the crop protection specialists, local gas station owners and rural energy providers to succeed. There is unique way of life that exists in rural America that has been passed down generations—a tradition that is worth of defending.

With this in mind, there are few cabinet positions that I am more concerned with than the selection for secretary of agriculture. Kansas farmers and ranchers are looking for someone who has his finger on the pulse of rural America, including volatile commodity prices and challenging weather conditions. The Ag Secretary ought to have a deep knowledge of production agriculture and an appreciation for the policies that provide a safety net and risk management tools for agriculture producers. Furthermore, this individual must oversee the many other functions of USDA beyond traditional farm policy, such as providing affordable rural housing, operating farm loan programs and expanding agriculture research efforts.

But not only does the Agriculture Secretary lead the implementation of policies within the USDA, they must also be willing to go to bat for rural America in all other areas of the administration. The Secretary of Agriculture must voice the significance of agricultural exports to the U.S. Trade Representative and Department of Commerce, the need for commonsense environmental regulations to the Environmental Protection Agency and the importance of rural economic development to the U.S. Fish & Wildlife Service.

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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!