What’s in Title I of the 2018 Farm Bill for Field Crops?

December 13, 2018 |

Following a prolonged downturn in the farm economy – now entering its fifth year – farmers and ranchers have the risk management certainty they need in the form of a five-year farm bill. Among the changes in the 2018 farm bill are evolutionary improvements to commodity support programs such as the Marketing Loan Program, Price Loss Coverage and Agriculture Risk Coverage. Today’s article highlights the provisions of the commodity support programs, excluding dairy, included in Title I of the farm bill. A future Market Intel will review significant enhancements made to the dairy title.

A Mixed Bag for Soybean and Corn Exports

December 7, 2018 |

As harvest wraps for the year we now turn our attention to the pace of consumption. There are two primary data sources to monitor weekly grain and oilseed exports. One USDA’s Federal Grain Inspection Service reports export grain inspections by commodity, port and destination. Two, USDA’s Foreign Agricultural Service’s U.S. Export Sales report includes weekly exports, accumulated exports, sales and outstanding sales.

Updated End-of-Year Farm Economic Outlook

December 4, 2018 |

The U.S. economy continues to outperform expectations. Year-over-year growth in gross domestic product has been positive for 36 consecutive quarters, unemployment is the lowest in nearly 50 years and inflation remains mostly flat (U.S. GDP Growth Continues Impressive Run). While the U.S. economy roars along, the farm economy continues to struggle. USDA’s most recent Farm Sector Income Forecast revealed that net farm income in 2018, a broad measure of farm profitability, is projected at $66.3 billion, down 12 percent from prior-year levels. After adjusting for inflation, net farm income in 2018 is projected to be at the third lowest-level in more than two decades.

Reviewing Price Loss Coverage and Agriculture Risk Coverage for Seed Cotton

Election Period for Seed Cotton Program Closes Dec. 7

December 3, 2018 |

The Bipartisan Budget Act of 2018 expanded eligibility for Title I farm programs to cotton producers by designating seed cotton, i.e., a combination of cotton lint and cottonseed, a covered commodity beginning with the 2018/19 marketing year. Cotton producers with generic base acres have until Dec. 7 to enroll in either the Price Loss Coverage program or the Agriculture Risk Coverage-County Option program. Today's article reviews ARC-CO and PLC for seed cotton.

U.S. GDP Growth Continues Impressive Run

Third Quarter 2018 Gross Domestic Product Update

November 28, 2018 |

The Bureau of Economic Analysis released its second report on gross domestic product growth for the third quarter of 2018, confirming a preliminary release in October that indicated the economy grew at a real rate of 3.5 percent from July through the end of September. This marks 36 consecutive quarters of positive GDP growth which began in the 4th quarter of 2009. Be clear that this is a ‘‘look back” report, with the more complete data allowing us the equivalent of a “further review” in football. The report substantiates how we thought the economy was behaving in the third quarter of this year but tells us nothing really about how the economy is performing now, or how it will perform in the months and year ahead.

Farm Bureau: USDA Broadband Program Will Boost Rural Economy

December 14, 2018 | News Releases

The following statement regarding the Agriculture Department’s ReConnect broadband program can be attributed to American Farm Bureau Federation President Zippy Duvall.
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AFBF’s Newton to Politico: Chinese Purchase of Soybeans is Step in Right Direction

December 14, 2018 |

Politico quoted American Farm Bureau’s Federation’s John Newton in an article on China’s recent purchase of Chinese soybeans.

New York Times Explores New Clean Water Rule

December 14, 2018 |

The New York Times quoted American Farm Bureau’s Don Parrish, senior director of regulatory relations, in an article about the administration’s proposal of a new clean water rule.

Weekly Update on Export Sales

December 13, 2018 |

USDA’s Dec. 13 Foreign Agricultural Service’s Export Sales Report indicated total committed volume for soybean exports is 916 million bushels, up 29 million bushels from last week.

Christian Science Monitor: From Hemp to Organic Foods, Farm Bill Embraces Change in Rural U.S.

December 13, 2018 |

The Christian Science Monitor quoted Dale Moore, AFBF’s executive vice president, in an article about the 2018 farm bill.

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