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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

PENCE: USMCA COULD BE ‘TEMPLATE’ FOR FUTURE TRADE DEALS

August 20, 2019

Vice President Mike Pence said Monday that the trade agreement the Trump administration has forged with Mexico and Canada could be the “template for all our future trade deals” with the European Union, Japan and China. Speaking midday in Detroit, Pence sought to promote the United States-Mexico-Canada Agreement President Donald Trump has forged with the nation’s southern and northern neighbors as the pact languishes in Congress. “Make no mistake about it, by passing the USMCA, it will strengthen the president’s hand in negotiations with China,” Pence said during his speech. (Crain’s Detroit Business)

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JAPAN TRADE AGREEMENT IS DAIRY INDUSTRY PRIORITY

August 20, 2019

In an effort organized by the National Milk Producers Federation and the U.S. Dairy Export Council, 70 dairy companies, farmer-owned cooperatives and associations sent a letter Monday to the U.S. Trade Representative ambassador and the U.S. secretary of agriculture asking the U.S. government to capitalize on the conclusion of Japan’s national elections and quickly finalize a strong trade deal with Japan in order to secure critical market access for the domestic dairy industry. The U.S. exported $270 million in dairy products to Japan in 2018. Without a strong U.S.-Japan trade agreement, half of U.S. dairy sales to Japan will be

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U.S. PORK’S MISSED OPPORTUNITY IN CHINA

August 20, 2019

The African swine fever outbreak that has decimated China’s pig herds and boosted the country’s demand for imported protein would normally be a boon for U.S. pork exporters. But the industry fears Trump’s tariff fight with Beijing is partially squandering a lucrative opportunity. “You have this explosive demand for imported pork in China,” said Nick Giordano, vice president for global government affairs at the National Pork Producers Council. “Under normal economic conditions, we would be the single largest beneficiary. Now the question is, do we get the main course … or are we just getting the leftovers from the table?”

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WASHING RAW POULTRY IS FOOD SAFETY RISK

August 20, 2019

A study from the USDA reveals that individuals are putting themselves at risk of illness when they wash or rinse raw poultry. The results of the observational study showed how easy bacteria can be spread when surfaces are not effectively cleaned and sanitized. The USDA included recommendations of three easy options to help prevent illness when preparing poultry, or meat, in your home. (USDA)

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USDA TOOL HELPS FARMERS CLEAN YIELD DATA

August 20, 2019

While yield monitors provide on-the-go information throughout each field, farmers should make sure they obtain “clean” data before using it to make application decisions for subsequent crops, according to Scott Drummond, of USDA’s cropping systems and water quality research. USDA’s free Yield Editor software allows users to select, apply and analyze a variety of automated filters and editing technologies to clean yield data. (FarmWeekNow)

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RECESSION ALARM BELLS ARE RINGING

August 16, 2019

Recession fears rose on Wednesday after an uncommon bond market event, known as an “inversion” of the yield curve, signaled that a downturn is likely approaching. The last yield curve inversion (basically, when short-term Treasury yields exceed long-term yields) came in 2007 before the financial crisis, and the phenomenon has occurred ahead of every recession since the 1950s. The Dow Jones Industrial Average sank 800 points on Wednesday – its largest drop of the year. Corn futures prices continued to drop as the global economic worries spilled over into grain markets, extending their decline after Monday’s USDA report forecast higher

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