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  • Off Base, Part 2: The View from the CBO Baseline
    Release of the CBO Baseline is an annual ritual required by federal budget policy, pursuant to which the Congressional Budget Office projects spending on certain programs ten years into the unknowable future. CBO released its February 2026 baseline ahead of schedule, providing a new look at agricultural policy after enactment of major changes in the […]
  • Projected Incomes on Owned vs Rented Farmland for 2026
    Projections in the latest Illinois Crop Budgets suggest negative returns on cash rented farmland for the 2026 crop year (see farmdoc daily article from January 13, 2026).  This article compares…

Agriculture News

AS HARVEST LOOMS, TRADE STORM SWIRLS OVER US FARMERS –

U.S. farmers, currently caught in the middle of an ongoing trade dispute between the Trump Administration and China, are also facing one of the most erratic years of weather variations, leaving many fields unplanted. The lack of a trade agreement with China and the uncertain fate of USMCA is creating a perfect storm in a season already filled with uncertainty. “When you are faced with that situation, and production risk is becoming real, and then your trade opportunities and your buyers are going away, it’s really frustrating,” McLean County farmer Reid Thompson told VOA during an interview at his farm.

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AG CENSUS SHOW FAMILY FARMS STILL DOMINATE IN ILLINOIS –

The 2017 Census of Agriculture confirms and contradicts some perceptions in Illinois. The percentage of livestock vs. crop sales has not changed in the five-year period from 2012 to 2017. Numbers show a slowdown in the growth of mega-farms, which drew attention in the 2012 census. In the 2017 report the number of large farms grew by only 190 to total 2,660. In contrast, the number of the smallest farms (between 1 and 9 acres) grew by 2,120 to almost 8,000. The 2017 ag census shows family farms still dominate the state. In McLean and Bureau counties, for example, 94

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WARY OF TRUMP’S FLIP-FLOPS, CHINA PREPARES FOR WORST ON TRADE –

In off-the-cuff remarks to reporters at the Group of Seven summit in France on Monday, Trump claimed that Chinese officials called “our top trade people” and said, “Let’s get back to the table.” In subsequent appearances he portrayed the outreach as evidence China was desperate to make a deal. China’s foreign ministry said again Tuesday it was unaware of the phone calls mentioned by Trump, reiterating a statement immediately after his remarks. (Bloomberg)

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EVERYTHING FARM PROGRESS SHOW –

The Farm Progress Show is set for Aug. 27-29 at the site adjacent to Richland Community College. The annual event, rotating every other year between Decatur and Boone, Iowa, is a showcase for all thing’s agriculture. More than 600 exhibitors are expected, along with as many as 150,000 visitors from around the globe. “It’s been an interesting year in agriculture, but is there any better place than the Farm Progress Show for farmers to come together, hit the reset button and plan for next year?” said Don Tourte, market leader for Penton, which owns and operates the Farm Progress Show.

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PROMISE OF JAPAN DEAL CAPS TRUMP’S TURBULENT WEEKEND ON TRADE

In 48-hour span, starting Friday, President Trump roiled global markets by tweeting his intention to again raise tariffs on China and ordering U.S. companies out of the country, then appeared to backpedal, saying at the G7 summit he was having “second thoughts” about the U.S.-Sino trade war. The weekend ended with a bit of potentially good news on trade, when Trump and Japan President Shinzo Abe announced an agreement “in principle” on a deal that would include Japan buying surplus corn from the U.S. (Successful Farming)

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USDA DETAILS TRADE DAMAGE ESTIMATE CALCULATIONS

U.S. Secretary of Agriculture Sonny Perdue Friday announced that the USDA Office of the Chief Economist has published a detailed accounting of how estimated damage from trade disruptions was calculated for its support package for farmers announced on July 25. An estimate of gross trade damages for commodities assessed retaliatory tariffs by China, India, the European Union, and Turkey to set commodity payment rates and purchase levels. (USDA)

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