Agri-Pulse DriveTime

Many farm groups spent this week in Washington developing policy and meeting with legislators on their priorities for the balance of the legislative calendar this year. This week's Agri-Pulse Newsmakers features Washington Republican Dan Newhouse who supports ag labor reform and additional economic assistance for specialty crop growers. 

The House Budget Committee advanced a spending bill providing funds for the war with Iran and economic assistance for farmers. New market intel suggests additional losses for crop farmers in 2027. AFBF President Zippy Duvall says as farms disappear, America's food security is put at greater risk.

Global conflict in the Persian Gulf have impacted fuel and fertilizer prices for U.S. farmers. Now, conflict in the Black Sea Region between Russia and Ukraine threaten not only fuel but food for the rest of the world. Arlan Suderman with StoneX says some of the worst fears in the market are now being realized. 

The war in the Middle East heighted again as the U.S. military reenforced the blockade of Iran's ports. A survey of Fed governors suggests a difference of opinion over the future of the nation's interest rate policy. The Brazilian soybean crop harvest is done with record production reported. Heat is taking its toll on U.S. pastures. 

Agriculture leaders from corn and soybean groups are in Washington this week as Senators return from a two week recess. The South Carolina governor has appointed a person to fill the balance of Senator Lindsay Graham's term and is expected to be sworn in this week. Corn and soybean crops show improvement and continue to develop at better than the average pace. 

An escalation in the war between Ukraine and Russia helped move wheat futures higher. The situation has the potential to impact global commodity prices. Agri-Pulse Newsmakers features Cathy Burns of the International Fresh Produce Association who supports proposed revisions to H2A and warns of challenges from state food packaging regulations. 

Ethan Lane with the National Cattlemen's Beef Association says the USDA's rollback on some Biden administration regulations has nothing to do with cattle producers. NCBA supports the Packers and Stockyards act and supports the work of the USDA and industry to eradicate New World screwworm in the U.S. 

The National Corn Growers Association released research suggesting a significant price disparity between input costs paid by farmers in the U.S. compared to those paid by Brazilian farmers. The National Farmers Union opposes the USDA's proposed rollback of some Biden era regulations imposed under the Packers and Stockyards Act. 

Farmer sentiment continues to fall according to the latest Purdue University/CME Group Survey. Media reports say U.S. Senator Mitch McConnell has spoken with Senate leadership. Traders with knowledge of the deals say China has purchased U.S. soybeans. 

U.S. corn condition held steady while soybean condition declined slightly from last week according to USDA.  Dan Basse with Ag Resource Company believes supply and demand factors may be pointing to higher commodity prices for farmers. 

As America prepares to celebrate its 250th birthday, agriculture leaders say farmers, ranchers and the food production system play a significant role in national security. Farm groups say farm, trade and labor policy is critical to maintaining a safe and ample food supply. 

President Trump announced today that he will not renew the USMCA trade agreement in its current form. Agriculture Secretary Brooke Rollins today announced a $500 million dollar program to boost domestic fertilizer production. Yesterday's USDA crop forecast continued to support wheat futures. 

The USDA's Grain Stocks report indicated no shortage of old crop supplies of corn, soybeans or wheat. The department's acreage forecast showed no reduction in corn planted area from the March Intentions while soybean acres were higher. House Ag Chair Glenn Thompson introduced legislation offering sweeping reforms to the nation's H2A Program. 

Agriculture groups are anxiously anticipating an ag labor bill being introduced tomorrow. Farmers today lamented the challenges associated with a lack of an adequate workforce. Cases of New World screwworm continue to climb and crop condition of corn and soybeans decline from one week ago. 

President Trump says Iran violated a ceasefire agreement by firing at a cargo ship in the Strait of Hormuz yesterday. Senate Agriculture Committee Chairman John Boozman says he may be willing to compromise on passing SNAP expenses to states with high error rates. 

The Supreme Court ruled in favor of Monsanto and parent company Bayer today verifying  the authority of the Environmental Protection Agency and the nation's existing FIFRA law. Renewable fuel representatives applaud President Trump's push for E15 legislation.  RFA steps in to defend recent RVO numbers from the EPA. 

President Trump says gasoline prices aren't falling fast enough and is pointing fingers at oil companies. A compromise on SNAP program spending may be the key to approving a farm bill in the Senate. A key USDA official says a decision is pending on prevented plant options with crop insurance. 

Senate Agriculture Committee Chairman John Boozman released draft language of a new farm bill. The Arkansas Republican hopes to see language approved and conferenced with the House version. Boozman says additional financial assistance for farmers and E15 legislation will be considered separately. 

The Senate draft of a new farm bill is expected to be released this week. Nutrition spending remains a top obstacle.  The USDA reports 68% of U.S. Corn acres and 66% of U.S. Soybean acres are rated good to excellent as most crops are emerged and some acres enter the reproductive cycle of growth. 

Weather data suggests crop damage from severe weather is running well ahead of the average. Weather patterns suggest the worst may not be over. Despite economic challenges for some Brazilian farmers, the country's overall production may not suffer as a result. 

The Fed kept interest rates steady but markets fell after a number of officials favored one or more rate increases this year. The European Union has taken a major step toward approving new genetic breeding techniques. A report on Brazil's farm economy suggests debt is increasing and foreclosures are climbing.  

A new study authored by S&P Global Energy suggest biofuels could be the catalyst to renewed profitability for farms across the nation. Research suggests crop productivity growth will exceed demand and further challenge farm income potential. Iowa Senator Charles Grassley says time is limited to approve E15 legislation this year. 

Clean Fuels Alliance America applauds the Trump administration's decision on higher Renewable Volume Obligations. Add the Corn Refiners Association to the list of agriculture groups supporting a continuation of the USMCA the trade agreement.

The world is again attentive to an agreement between the U.S. and Iran that would open the Strait of Hormuz and end the military action in the Middle East. Renewable fuel groups appear pleased with the Energy Department's latest version of the 45Z-CF- Greet Model. 

Members of the agriculture industry are sharing the advantages they see from the USMCA trade agreement. Many groups are encouraged to hear ag labor legislation my soon be introduced on Capitol Hill. 

State and USDA officials continue to monitor and try to contain confirmed cases of New World screwworm in the country. Congressman Chip Roy says eradicating the pest hinges on the number of sterile flies available to release in impacted areas.  Dairy farmers are in Washington this week and hopeful for progress on an ag labor bill. 

Members of the International Fresh Produce Association are in Washington this week. Leaders are calling on legislators to resolve labor issues, provide market access for crops and restore funding for fresh produce in government feeding programs. 

The number of confirmed cases of New World screwworm continues to climb in Texas. Soybean condition declined while corn held steady last week. A new study illustrates the relationship between USMCA and consumer food prices. 

Commodity prices lost ground all week under fundamental pressure. Financial markets had their worst day since last October following today's jobs report. A new study was released this week indicating areas where women in agriculture need support. Over 8 in 10 women surveyed say they are interested in leadership either now or in the future. 

USDA and related government agencies are on task in Texas dealing with a New World screwworm case in a young calf. National Cattlemen's Beef Association CEO Colin Woodall says this is an animal health issue and work is underway to contain it. USDA Secretary Brooke Rollins testified before the House Agriculture Committee today. 

The USDA is investigating a possible case of New World screwworm in South Texas. Nutrition spending may be the biggest challenge for Senators to face in writing a new farm bill. The Trump administration may be imposing new tariffs on certain trading partners. 

Agriculture Secretary Brooke Rollins says New World Screwworm is now just 25 miles from the Texas border. Rollins told media today she would begin regular updates on the issue. Agri-Pulse Newsmakers Host Lydia Johnson reports from the Food and Ag Issues Summit today in California. 

World Pork Expo is scheduled for this week in Iowa. Agri-Pulse founder Sara Wyant previews the Food and Ag Issues Summit set for tomorrow in California. The International Year of the Woman ACE Summit kicked off today in Arlington. 

EPA Administrator Lee Zeldin discusses the backlog of pesticide reviews and Small Refinery Exemption requests left by the Biden administration. Zeldin discusses the path forward on an unbiased review of glyphosate herbicide and intent to follow the science on matter. Zeldin says EPA will implement any change Congress brings to the RFS program.  

An investigation into fertilizer price spikes is underway according to FTC Chairman Andrew Ferguson. EPA Administrator Lee Zeldin tells Agri-Pulse researchers will "follow the science" in its review of the safety of glyphosate without bias. The STB has unanimously accepted a revised merger application between Union Pacific and Norfolk Southern. 

President Trump today said Iran is "negotiating on fumes" and says he won't let the upcoming mid-term elections rush to a deal to end the conflict. Farmers can now review their base acres with the FSA for the first time since 2002. An Agri-Pulse webinar at noon central tomorrow will concentrate on industry growth and reaching historic RVO numbers. 

The nation's corn and soybean farmers are nearing completion of planting this season's crops. The planting pace and crop emergence are both at or above the average pace. The National Farmers Union is calling on the Senate for urgent and comprehensive reform to the farm safety net. The Federal Reserve Bank of Chicago reports falling repayment rates on farm loans compared to last year. 

Kevin Warsh was sworn in today at the White House as Chairman of the Board of Governors of the Federal Reserve System. Warsh inherits significant domestic and global economic challenges. The House Transportation and Infrastructure Committee today approved the Build America 250 Act. The U.S. Fish and Wildlife service today concluded that atrazine is not likely to jeopardize endangered species or destroy critical habitat when conservation measures are incorporated into its label requirements. 

Senator's left Washington today for the Memorial Day Recess without addressing a budget reconciliation package that would have included funding for immigration reform. While questions remain about the conclusion of the war with Iran, Cuba is gaining the attention of the Trump administration. Shares of farm equipment manufacturers continue to reflect the income challenges their customers are facing. 

Iowa Senator Charles Grassley hasn't changed his opinion on foreign ownership of farmland and clearly understands the top concerns of farmers in his state. Agriculture Secretary Brooke Rollins applauds the Senate Agriculture Committee's recent attention to fertilizer price and availability. 

The World Health Organization declared an Ebola disease outbreak a public health emergency of international concern. A new survey says farmer sentiment over land values are key farmer risk management and capital decision. American Farm Bureau Market Intel suggests consumers will shop the meat case for their holiday meal plans. 

President Trump postponed a military strike on Iran at the request of nations who say serious negotiations are underway. Winter wheat condition continues to fall as planting progress continues to advance for both corn and soybeans. A key leader steps down at USDA. 

This week's summit between President Trump and Chinese President Xi established new lines of cooperation for trade and hopes for more deals to be announced soon. Traders anticipate the harvest pace will advance in both Brazil and Argentina and that the USDA will report a big increase in corn and soybean planting here in the U.S. 

Nebraska Representative Adrian Smith was instrumental in seeing 218 votes for year-round E15 legislation yesterday in the House of Representatives.  Smith today said the policy is a win for farmers and consumers and hopes bipartisan support will continue for the legislation in the Senate. Smith favors trade opportunities for U.S. farmers and is hoping for results with President Trump's visit to China. 

Members of the House of Representatives are scheduled to vote on legislation to approve the year-round sale of E15. Follow Agri-Pulse for updates and reaction to the vote.  The U.S. Senate approved Kevin Warsh as the next chair of the U.S. Federal Reserve.

Farmers and industry leaders shared their challenges with members of the Senate Agriculture Committee this afternoon. Meanwhile farmers and ethanol industry supporters spent time on Capitol Hill lobbying for an expected vote on E15 legislation tomorrow. 

President Donald Trump is expected to sign a pair of executive orders to expand beef imports and grow the domestic cattle herd, according to a White House official. The National Cattlemen's Beef Association opposes the move. The Senate Agriculture Committee will address fertilizer price and availability at a hearing tomorrow. One witness says the industry is in a crisis. 

The Trump administration has reached a settlement in an antitrust case against data-sharing company Agri Stats. The Justice Department is continuing its investigation in the beef processing industry.  The Court of International Trade ruled President Trump's tariffs on global imports is illegal. The USDA announced today the implementation of the Whole Milk for Healthy Kids Act. 

President Trump has given the European Union until July 4 to approve the trade deal approved last year. Brazilian President da Silva says the war with Iran is not over and will cause more damage than Trump imagines. Drought area in the U.S. is growing. Frost and cold temperatures could be a threat to newly emerging crops. 

Union Pacific and Norfolk Southern are again seeking approval from the Surface Transportation Board to merge, forming the nation's first coast to coast railroad company. President Trump is expect to host Brazilian President Luiz Incio Lula da Silva for talks about shared economic and security issues. Gasoline prices are up 31-cents a gallon over the last week, that's over 50% higher than a year ago. 

Farmers indicated a more challenging outlook in the latest Ag Economy Outlook Barometer. Iowa Soybean farmer Dave Walton testified before a USTR hearing today saying trade sanctions have proven to cost farmers global markets. Walton is hopeful soybeans are included in the upcoming trade summit with President Trump and Chinese leader Xi later this month.