Jim Wiesemeyer

Jim Wiesemeyer was a Pro Farmer contributor as the Washington Bureau Chief. His columns provided expertise and insight on farm policy, trade policy and Washington politics.

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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.