Latest News From Jim Wiesemeyer

Farmers are opting to tap into their savings from recent prosperous years instead of taking out loans at the highest interest rates since 2007, according to surveys conducted by regional Federal Reserve banks.

USDA has allocated more than $1.77 billion this year to agricultural producers and landowners through CRP. Since 2021, the CRP has witnessed a 21% increase in enrolled acres.

While the U.S. and EU aim to make progress during an upcoming summit, reaching a final agreement is uncertain. This issue has significant implications for U.S./EU ties, climate goals, and geopolitics.

China's Commerce minister expressed concerns over trade and tech restrictions to U.S. Senate Majority Leader this week. That's as the U.S. Commerce Department added 42 more Chinese companies to the export blacklist.

The attack on Israel by Hamas adds urgency to GOP efforts to elect a new House speaker. The need to focus on Israel may help get a House GOP leadership decision this week, several lawmakers said. 

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. 

When the House and Senate returns on Tuesday, lawmakers will have just five days left to avoid a shutdown, which would impact several USDA services, including key reports. 

As brent crude futures soar toward $100, it's creating a new battle in the Federal Reserve's effort to fight inflation. One money manager warns another rate hike is likely. 

A fierce competition is unfolding in the American soybean market, with Corteva, a spin-off of DowDuPont, gaining ground against industry leader Bayer.

House Republicans, particularly on the House Ag Committee, are debating changes to the Conservation Reserve Program as part of the upcoming farm bill reauthorization.

EPA has been asked to exclude ditches from the definition of federal waters, include wetlands when they can't be distinguished from navigable waters, and erase the independent interstate waters and wetlands category.

According to a new report by USDA, ag imports from Latin America and the Caribbean have increased over the past 12 years, with a compound annual growth rate of 6.9%.

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

Under the Clean Air Act, those affected by this decision have the right to request a judicial review with the US Court of Appeals within 60 days of the notice's Federal Register publication.

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.

Legislators have until Wednesday to propose amendments to the fiscal 2024 Ag appropriations bill, which could lead to test votes on farm bill matters. The measure could begin debate next week.

State officials find these states serve as early examples of the challenges other places may face in response to the recent Sackett ruling on WOTUS.

Meanwhile, service prices and the core index (which excludes food and energy) remain high, with the core CPI descending to 4.8%.

This slump, deeper than May's 7.5% drop, represents the largest decline since February 2020.

Dr. Carl Zulauf of Ohio State University, via a FarmDoc Daily article, proposes merging General CRP and Continuous CRP into a Site Specific CRP.

During a bilateral meeting on Thursday, U.S. Trade Representative Katherine Tai discussed with Mexico's Secretary of Economy Tatiana Clouthier various issues concerning energy and biotech corn.

Erik Lichtenberg, University of Maryland professor, says Congress could reorient farm bill conservation funds for climate change, but it could cut into their support.

Beijing on Monday announced export controls on gallium and germanium. Now the Biden administration is set to restrict Chinese companies’ access to U.S. cloud-computing services that use AI chips.

EPA plans to revise the "Waters of the United States" (WOTUS) regulation by Sept. 1. Both the EPA and the Corps of Engineers have regulatory duties for federal waterways.

While Sen. McConnell says the budget has little give, Sen. Boozeman has consistently said he will not support a farm bill that doesn't provide an increase in the Price Loss Coverage (PLC) program's reference prices.

Senate Ag Chair Debbie Stabenow (D-Mich.) opened the door to shifting almost $20 billion from her party’s climate and tax credit law enacted last year to more general spending in the upcoming farm bill.

Under the bill, the USDA and the FDA would become members of CFIUS and their powers would be expanded to better consider ag needs when it decides if a purchase would create national security risks.

The committee will meet on Thursday to officially set the toplines for each of the 12 appropriations bills. If all 12 bills aren't passed by year-end, automatic across-the-board cuts would kick in to push talks along.

Over the 29 years of free trade, U.S. ag exports to Mexico increased both in terms of volume and value, although there were some years where growth was not positive.

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.

The Senate and House Ag committees are facing delays in drafting the next farm bill, and it is expected to be the most expensive farm bill to date, clocking in at around $1.5 trillion.

Dow Inc. and New Energy Blue have announced a long-term supply agreement to produce bio-based ethylene from renewable ag residues, specifically corn stover.

China's exports to Russia reached a record high in April, amounting to $9.6 billion.

“We can't prioritize one natural resource concern over all others and we shouldn't prioritize one solution above all others,” Rep. G.T. Thompson (R-Pa.) said.

John Kerry, Special Presidential Envoy for Climate, says ag need to be "front and center" as the climate solution.

Rep. Thompson signaled he wants to hear “commitment from everyone, including the president, that we will get this done and in the manner I've been speaking about. Bipartisan, bicameral, on time and highly effective.'"

Lenders In the hearing seemed to agree on a boost to lending limits in USDA guaranteed loans as lawmakers ready for the next farm bill.

During Thompson's presentation at a crop insurance event, he was passionate about getting a farm bill done, but acknowledged several hurdles that he said could be overcome in a bipartisan approach.  

The U.S. ethanol industry is lobbying the Biden administration to ensure lower-carbon aviation fuel made from ethanol will qualify for subsidies.

Here we go again. Some farmers and at least one farm-state lawmaker want to move back to payments based on planted and not base acres.

Michael Regan, EPA administrator, appeared before the House Ag Committee on Wednesday to discuss everything from WOTUS to the farm bill. Here are the highlights that will directly impact producers.

Non-tariff barriers “are real and can be more significant hurdles than tariffs,” U.S. Trade Representative Katherine Tai says.

While Tai has faced strong criticism about a lack of new trade agreements being pursued, she claimed this week that the U.S. is “nearing a consensus on the need to do things differently.”

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.

We need to know the final funding level in the debt limit debate before there are can be any attempt to mix and match farm bill titles and funds.

The EPA’s new definition of Waters of the U.S. takes effect Monday. Here's a rundown of what is considered WOTUS and, therefore, subject to federal regulation.

Former President Donald Trump placed tariffs on more than $300 billion in Chinese goods during his presidency, raising costs for American companies, according to the ITC.

"The prioritization of resource concerns must be left to the local level where producers decide how they can best address their unique and varied landscapes and needs," said Sen. John Boozman.