“The agricultural economy is inherently cyclical, and ag lenders are navigating the changing conditions across the sectors they serve,” said Jackson Takach, chief economist of Farmer Mac.

A letter from AFBF President Zippy Duvall to state Farm Bureau presidents said the action comes after a failed mediation session on Monday. The move is in retaliation for a decision by the Illinois Farm Bureau’s affiliate, Country Financial, to drop a Farm Bureau membership eligibility requirement for non-farm insurance policy holders in Illinois.

Trump’s plans to roll out blanket import tariffs could slam the door on imported vegetable oil supplies, which renewable energy analysts said could in turn lure the U.S. crush industry to revive lagging plans to build new plants and expand capacity.

Bayer’s $63 billion purchase in 2018 of seeds and pesticides maker Monsanto was a long-term bet on robust growth in farming supplies which has so far misfired.

Sen. John Thune (R-S.D.) wins Majority Leader race. Sen. Rick Scott (R-Fla.) was eliminated on the first ballot. And Thune beat Sen. John Cornyn (R-Tex.) 29-24 on the second ballot.

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