Agri-Pulse DriveTime

The oil industry opposes the farm bill amendment to extend year-round sales of E-15. President Trump has extended the ceasefire with Iran but maintains the blockade of U.S. ports. The Iranian military has attacked cargo ships in the Strait of Hormuz. A respected Georgia representative has passed.

Financial and commodity markets were largely influenced by anticipation of peace talks between the U.S. and Iran. President Trump has extended the ceasefire deadline. The delay brings to question if and when a summit between the U.S. and China will take place and when the Strait of Hormuz will open allowing free trade of oil and fertilizer to resume.

Representatives of the rice industry appealed to U.S. Trade Representative Jamieson Greer to mount a trade probe into unfair trade practices in the international rice market. President Trump offered mixed messages on trade negotiations with Iran today as the ceasefire deadline draws near. The USDA reported corn and soybean planting progress above the average pace today.

Members of the House of Representatives are expected to vote on the ag committee's farm bill proposal before the end of the month. House Agriculture Committee Vice Ranking Member Shontel Brown isn't sure many of her fellow Democrats will support the proposal. Brown says Democrats want to reconsider cuts to the SNAP programs.

Iowa Senator Charles Grassley realizes the pain U.S. farmers are feeling from increased input prices due to the war with Iran. The Iowa Republican says the reason for the war is not well understood. Congressional ag leaders continue to discuss additional farm assistance this year.

Iowa Congressman Zach Nunn tells Agri-Pulse E15 legislation may soon be released. Leaders of the National Pork Producers Council are in Washington this week lobbying for a new farm bill that includes a fix for California's Proposition 12.

Farm groups and university analysis give evidence that the economic climate for crop farmers has become more challenging following the war with Iran.  Fuel and fertilizer prices have spiked further squeezing farm profit margins. Farmers say planting decisions may be impacted this year.

Agriculture leaders spoke to members of the North American Agriculture Journalists today in Washington. Deputy Agriculture Secretary Stephen Vaden updated the group on the USDA reorganization plans and investigation into farmer input prices.

Economic reports this week showed the impact on the nation's economy from last year's government shutdown and on consumer prices from the impact of the war with Iran. Despite a challenging financial picture for crops, farmer optimism showed improvement over previous surveys.

The USDA increased the average price expected for some commodities in today's WASDE report. Carryover estimates for corn and soybeans were left unchanged while wheat stocks grew slightly. Soybean domestic crush offset an expected drop of export sales. The EPA today proposed weakened rules governing the safe disposal of ash produced by burning coal.