Agri-Pulse DriveTime

Iowa Senator Charles Grassley still has hopes for a new farm bill before the end of the calendar year. He says legislators must face the need for compromise to secure farm, food and energy policy. AFBF Chief Economist Dr. John Newton says farmers are waiting for details of a new fuel assistance package.

Agri-Pulse reports more money donated to Republicans than Democrats from agriculture in this election cycle. The National Pork Producers Council is highlighting a report by RealClearInvestigations linking a $40 million dollar campaign against a congressional fix to California's Proposition 12 to groups presenting themselves as voices for American farmers.

Leaders in Washington will change after the election, but the policy needs of farmers and ranchers will remain the same. Farm bankruptcies are running higher this year.  Harvest prices for corn and soybeans are higher than in the spring.

The future of the U.S. soybean industry is tied to demand from the domestic front in renewable fuels, livestock feed demand and in trade from China and other nations of the world. Soybean leaders are aware of the many scenarios that could develop from voter decisions across the nation next week. Their message to Washington stays the same.

Agri-Pulse invites you to participate in a webinar tomorrow "Three CEOs, One Soybean Future". Agri-Pulse Founder and Publisher Sara Wyant previews the meeting and highlights issues surrounding next week's mid-term vote. The Fed kept interest rates steady today.

Iowa Senator Charles Grassley says another round of financial assistance will be at play when legislators return to Washington. Smithfield Foods showed lower returns in the latest quarter. A leading financial institution says grain elevators are carrying additional financial risk this year.

The National Corn Growers Association has great concern over potential errors in USDA crop forecasting. Michigan corn farmer and president of NCGA Matt Frostic says the timing of errors is especially poor for corn farmers experiencing economic stress.

The Trump administration removed some tariffs on Canadian products in an attempt to shore up support for the GOP in the November elections. USDA is expected to announce details of the Harvest Fuel Relief Program next month. Cattle on Feed numbers are below a year ago.

The USDA announced a new program today investing $600 million dollars to reduce dependence on volatile global supply chains. A top adviser to Health and Human Services Secretary Robert F. Kennedy Jr. resigned his post. Iowa Senator Charles Grassley is focused on getting a farm bill this year.