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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

US-CHINA TALKS RESUME OVER PHONE

August 14, 2019

Top U.S. and Chinese trade officials met over the phone Tuesday to negotiate, said President Donald Trump, who stressed the talks were “productive” and offered optimism that a conclusion could come soon. The Chinese officials took the opportunity to complain about Trump’s announcement two weeks ago to hit another $300 billion worth of Chinese goods with a 10 percent tariff. Some of those tariffs are scheduled to be levied on Sept. 1, but the Trump administration offered a surprise Tuesday when it announced that it is delaying tariffs on some of the Chinese products until Dec. 15. The officials are

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USDA DISASTER DECLARATION PROMISES RELIEF FOR ILLINOIS FARMERS

August 13, 2019

Struggling Illinois farmers are expecting some relief after the USDA declared a disaster in all 102 of the state’s counties. The declaration would give farmers and other agricultural businesses access to low-interest loans through the USDA’s Farm Service Agency. “You never want to be declared a disaster area because that really means you have adverse conditions,” said Mark Tuttle, a farmer for the past 40 years in Somonauk, Illinois. “But the fact that the federal government is there, that’s a security blanket.” (WTTW)

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A BUDDING CROP: GROWING CANNABIS IS LABOR-INTENSIVE, EXPENSIVE TO START, BUT DOABLE

August 13, 2019

The star-shaped “cannabis sativa” is making the transition to commercial crop, now that the state has legalized hemp production and both medical and recreational marijuana use. Just how easy is it to grow? Growing industrial hemp is “not rocket science, but it takes a lot of effort and time and commitment,” said Andy Houston, a northwestern Illinois hemp producer and CEO of American Hemp Research. “It’s a lot more labor-intensive than most conventional farming is around here.” (News-Gazette)

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DURBIN SEEKS TO BOOST AG RESEARCH FUNDING

August 13, 2019

U.S. Sen. Dick Durbin announced new legislation that would restore publicly funded agriculture research. Unveiling the America Grows Act at the Peoria County Farm Bureau last week, Durbin said the legislation would authorize a 5 percent annual funding increase for USDA during the next five years, or a total of $2 billion. (FarmWeekNow)

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USDA CROP REPORT SURPRISES TRADE

August 13, 2019

Corn futures prices tumbled Monday in the wake of USDA’s crop production report. The first survey-based forecast of the season pegs the national average corn yield at 169.5 bushels per acre, up 3.5 bushels from last month, with planted acres at 90 million. This represents just a 2 percent decline in corn acres despite historic planting delays caused by one of the wettest springs on record. “Corn production is forecast at 13.9 billion bushels, up 26 million from the July projection, as a decline in harvested acres is virtually offset by an increase in yield,” USDA noted in its report.

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USDA DECLARES ‘AGRICULTURE DISASTER’ IN ILLINOIS, OPENS WAY FOR AID

August 9, 2019

The rain deluge of 2019 has prompted the U.S. Department of Agriculture to declare an agricultural disaster in all 102 Illinois counties, it was announced Thursday. The department had responded to a request from Illinois Governor J.B. Pritzker on July 3 in the wake of statewide flooding produced by seven months of above-average rainfall. The federal declaration opens the way for farmers and agribusiness to tap resources such as low interest loans to help them recover. (Herald&Review)

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