Agri-Pulse DriveTime

President Trump has rescheduled a visit to China for mid-May. EPA Administrator Lee Zeldin announced an emergency E15 waiver for the summer driving season. Industry representatives were grateful and still hopeful the Trump administration would have additional good news for renewable fuels before the end of the month.

Senate Agriculture Committee Chairman John Boozman has a goal of completing a new farm bill in "weeks not months". Committee Ranking Member Amy Klobuchar says Democrats have some priorities for the new policy including pushing back on SNAP cost share dollars for states.

The Agri-Pulse Ag and Food Policy Summit today was a huge success today at the National Press Club. House Agriculture Committee Chairman Glenn "GT" Thompson says work is underway to see the committee's farm bill approved in the House. EPA Administrator Lee Zeldin says new RVO numbers will be released by the end of the month and USTR Ambassador Julie Callahan says the U.S. trade balance is slowly improving.

Senate Majority Leader John Thune introduced bipartisan legislation to increase transparency in fertilizer price discovery. Cattle placed in feedlots during February were well above a year ago. Wildfires have burned over 800,000 acres in Nebraska. Thousands of head of cattle are left without pastures as fires are still burning in the state.

The Trump administration funding request to help support the war with Iran drew the ire of Senate Minority Leader Chuck Schumer. Over fifty farm groups sent a letter to the White House and Congress requesting additional assistance funds and a more certain revenue outlook through both legislation and regulations. Drought in the Plains states is helping to drive Chicago wheat prices higher.

The Fed Reserve left short term interest rates unchanged, but still projects a rate cut this year. The Trump administration took action to lower shipping costs in an attempt to soften rising fuel and fertilizer costs. The war with Iran is making a shift to energy resources.

While signup and participation in the USDA Bridge Assistance program is said to be running smoothly for row crop producers, representatives of specialty crop growers in the country say acreage reporting is a challenge and payment rates aren't yet clear. Both agree assistance for specialty crop growers grossly understates producer revenue losses.

A possible delay in President Trump's visit later this month to China pressed soybean prices. USDA Undersecretary Richard Fordyce says signup for the USDA's Bridge Assistance Program has made excellent progress. National Corn Growers Association President Jed Bower says farmers recognize the urgency of getting E15 approved.

Two major commodity organizations are calling for fertilizer manufacturers to drop their support for countervailing duties on nutrient imports. A report this week suggests China is outspending the U.S. on public agriculture research. NOAA Climate forecasters indicate a possible shift to warm and dry weather for the Midwest growing season.

Evidence from farm country points to ongoing financial challenges and the threat of farm losses this year. The war with Iran is pushing fuel and fertilizer prices higher and adding to economic headwinds for farmers nationwide.