Hoeven Announces $3 Million USDA Allocation for ND Specialty Crops

Apr 21, 2014

Senator John Hoeven today announced that the United States Department of Agriculture (USDA) has allocated over $3 million for the North Dakota Department of Agriculture through its Specialty Crop Block Grant Program (SCBGP), a program that supports states’ efforts to enhance the competitiveness of specialty crops, such as fruits, vegetables, herbs and tree nuts. Through the SCBGP, state departments of agriculture can support specialty crop growers through research and projects that develop new varieties of crops, improve efficiency and sustainability of crop production and establish local and regional fresh food systems, among other things.

“These funds will help North Dakota growers diversify and strengthen their production of crops, while also improving the ways we bring these crops to market,” Hoeven said. “That means lower costs for both producers and our consumers, as well as better nutrition and greater choice for our families.”

Senator Hoeven served as a member of the House/Senate farm bill conference committee and worked to pass a strong farm bill to provide North Dakota farmers and ranchers with strong programs and good options to manage risk with enhanced crop insurance, while saving $23 billion. The farm bill also included the reauthorization of the SCBGP, an important program for North Dakota producers.

Hoeven also serves on the Senate Agriculture Appropriations Subcommittee, where he works to support funding for programs that meet the needs of North Dakota farmers, such as crop research, including specialty crops, rural development and education and extension services.

Source:senate.gov

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!