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Stopgap Funding Provides Important Relief for Farmers, Hungry Americans

With government funding due to run out next week, the U.S. House of Representatives today passed a continuing resolution that would keep federal agencies running through December 11. In addition to preventing a government shutdown, the stopgap measure would provide nearly $8 billion for nutrition assistance programs, replenish the Commodity Credit Corporation (CCC), and stipulate some Congressional oversight of spending through CCC.

Throughout the pandemic, National Farmers Union (NFU) has encouraged Congress and the administration to expand the nutrition safety net and ensure that farm assistance is distributed fairly. In a statement, NFU President Rob Larew commended the resolution and urged the Senate to act quickly to pass its own stopgap funding bill.

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Fund year end, end of quarter and end of month selling has weighed on the grain markets. Will the USDA provide a gift in January, and do seasonals kick in? Rumors that China was buying U.S. corn are adding fuel to the fire.