Latest News From Jim Wiesemeyer

With the government funding in place for now, work on a new farm bill can continue, with the same questions (timing, funding, Title 1 reform, etc.) still being unanswered. 

The Farmland Security Act of 2023 seeks to further boost transparency in foreign ownership of U.S. farmland.

The leaders also drafted a proposed legislation earlier this month that promises treaty-like benefits for businesses seeking cross-border investment opportunities via the tax code.

House Ag Committee Chairman G.T. Thompson, along with other members, is seeking additional funding sources for the bill, but that will likely be the biggest farm bill hurdle that may trip up lawmakers.

EPA has a deadline from the Eight Circuit Court of Appeals to offer a progress report on the Waters of the U.S. rule by Sept. 15.

Senate Ag Chair Debbie Stabenow, (D-Mich.) says there will be no new funding for the 2023 farm bill. However, Stabenow stressed she will not allow a cut in conservation funding.

Rail strikes ran headlines in late 2022 and came to an end in December when Congress passed an agreement. But there may be another strike looming in the transportation sector unless the Biden administration changes pace.

The price surge comes as Europe announced a ban on Russian diesel fuel and G7 countries vowed to price-cap Russian oil products.

The additional payments will be equal to 15% of the producer’s previous CFAP 2 payments.

President Biden traveled on Sunday to the U.S./Mexico border amid a surge in illegal border crossings. The administration announced a new program for up to 30,000 migrants a month to enter the U.S. legally.

From the docks of Southern California and Europe to the parcel hubs in the Midwest and the store shelves in New York, signs are growing that the global supply chain crisis is over.

The agreement will allow lawmakers to spend the coming week hashing out specific spending levels for each federal agency as well as what legislative items they will attach to the bill, likely including ag aid.

The farm bill debate depends in part on who controls the House because leadership of the Ag Committee would see definite changes if the GOP wins.

Nikki Fried, Florida commissioner of ag, says the preliminary assessment is a "first step" in trying to get federal disaster aid for affected producers.

The 15 million barrels from the country's Strategic Petroleum Reserve (SPR) are the final part of a 180-million-barrel release announced in March and does not constitute a further release.

USDA seeks input on how to identify those who experienced discrimination and what kind of evidence should be submitted to back up the claims.

Global inflation will likely decrease to 6.5% in 2023 and to 4.1% by 2024, according to the International Monetary Fund (IMF) forecast.

USDA says the organizations were selected for their proven track records working with farmworkers, meatpacking workers, and grocery workers. The funds amount to $600 per person and will be dispersed in the fall.

A pandemic-era program that provided free breakfast and lunch to all schoolchildren expired this year. Republicans voted against efforts to include free school meals this week. Biden's plan reinstates the program.

President Richard Nixon hosted the last White House Conference on Food, Nutrition and Health in 1969. That confab led to expansions of the food stamp program, the school lunch program and WIC.

When adjusted for inflation, 2022 net cash farm income is forecast to increase by $13.5 billion (8.7%) from 2021 and be at its highest level since 2012.

California announced last week that it will ban the sale of internal combustion engine passenger cars by 2035. The decision comes on the heels of diesel shortages along the East Coast, which caught attention on The Hill.

More than 16% of new cars sold in California in 2022 were zero-emissions vehicles, the state said, up from 12.41% in 2021 and 7.78% in 2020.

The CPI, an inflation gauge measuring what consumers pay for goods and services, rose 1.3% from May to June. Prices were up across the economy, with gasoline far outpacing other categories, up 11.2%.

President Biden and Mexican President Andrés Manuel López Obrador are meeting Tuesday as both face a surge in migration. They are expected to announce multiyear, joint projects to modernize border infrastructure.

U.S. Labor Secretary Marty Walsh remained optimistic about contract negotiations between workers and shipping companies for some of the country’s most important ports, even as talks extend past a previous deadline.

USDA Secretary Tom Vilsack announced agricultural producers have already received more than $4 billion through the Emergency Relief Program (formerly WHIP+), representing 67% of the $6 billion projected to be paid.

The move is contingent on legislative action, which would temporarily lift the 18.3 cents tax per gallon on gasoline and 24 cents tax per gallon on diesel during the summer months.

Transforming the U.S. food system by improving supply chains and addressing issues exposed by the Covid-19 pandemic was detailed by USDA Secretary Tom Vilsack during a speech at Georgetown University.

Shanghai offered some tax rebates for companies and allowed all manufacturers to resume operations from June as authorities rolled out policies to revitalize an economy impacted by Covid-19 lockdowns.

Fertilizer prices, led by CF Industries, fell in Thursday's trading. Nitrogen prices reportedly plunged 30%, partly due to demand destruction.

USDA raised its estimated range of 6.5%-7.5% y/y increase from a range of 5%-6%, according to the May Food Price Outlook report, the highest forecast for all food prices and restaurant prices since 1981.

The White House is considering waiving U.S. gasoline environmental rules aimed at reducing summertime smog, hoping the waiver will combat rising pump prices, Reuters reported.

The U.S.-China trade war began in July 2018 when the Trump administration imposed tariffs on $550 billion worth of Chinese goods. Nearly four years later, the debate remains as to which country actually won.

U.S. diesel prices are the highest ever, with warnings of shortages, especially in the eastern U.S., and the most intensive part of the farming season is still ahead.

USDA's 2022 food price inflation forecasts are already at a 14-year high with forecasts for consumer food price inflation increased again this month. All food prices now seen rising 5% to 6% vs 4.5% to 5.5% in March.

President Biden's USDA FY 2023 budget proposal focuses on climate, conservation and research with $3.8 billion discretionary spending increase for USDA with climate, conservation and clean energy the major focal points.

USDA now expects food price inflation in 2022 to be from 4.5% to 5.5%, compared with 2021, based on the all-food Consumer Price Index. No category shows a potential decline.

Congress returns Monday, but to a very different situation due to Russia’s invasion of Ukraine, which is expected to be one of the key issues President Biden talks about during his State of the Union address.

Lawmakers may have left town, but centrist Sen. Joe Manchin (D-W.Va.) left no doubt that he cannot support President Biden’s $1.75 trillion social and climate spending plan, imperiling the president’s agenda.

Senate leadership’s timeline for the BBB proposal is just before Christmas, according to Majority Leader Chuck Schumer. Centrist Sen. Joe Manchin is calling for a strategic pause for the vote, delaying it into 2022.

Net cash farm income, which tracks producers’ cash flow, is forecast by USDA at $134.7B for 2021. That number is up $6.4B from February’s forecast and would be an increase of 21.5% from 2020's $110.9B.

USDA reports | CFTC vote | Farm Bureau meeting | Argentine drought meeting | Geithner in Asia