Agri-Pulse DriveTime

President Trump said Iran is down to its last chance to negotiate a settlement to open the Strait of Hormuz and resolve concern over its nuclear program. The American Petroleum Institute opposes the Senate E15 language in the farm bill draft. Corn condition falls and soybean condition remains stead in today's USDA report.

Mississippi Senator Cindy Hyde-Smith comments on efforts to approve a new farm bill and opening the border to Mexican cattle. The Meat Institute's Julie Anna Potts praises the USDA's efforts to support the industry and protect the herd. USGBC's Ryan LeGrand sees a potential shift in global grain supply.

Government officials continue to investigate a rapidly growing number of cyclosporiasis cases reported in the United States. The outbreak is impacting consumers at restaurants and for produce prices at grocery stores. Citing a lack of cost-effective alternatives and the agency's own data, some legislators are calling on EPA to approve a popular insecticide. A leading soybean crusher is expanding capacity to meet demand.

The Fed left interest rates unchanged today despite inflation that's been above the 2 percent target for the last 60 months. Crude oil prices moved higher as the global conflict in the Strait of Hormuz flared again with attacks by Iran. Feeding America's latest update suggests food insecurity is still a major problem nationwide.

Majority Leader John Thune is considering budget reconciliation as a means to accomplish some goals for the GOP and White House, including financial assistance for farmers. Senator Charles Grassley says work is underway for a stand alone E15 bill. NACD leaders are hopeful for a new farm bill.

Corn and Soybean crops continue to mature faster than the average pace. Crop condition fell from last week for both crops. U.S. Senator Mitch McConnell has been released from the hospital but is still in rehabilitation and not yet able to return to Washington. USDA data suggests a slight expansion in the cattle herd.

Legislators in House of Representative made major legislative strides on spending legislation this week before leaving for their August recess. Agri-Pulse's Olivia Bridges says Senate Majority Leader John Thune faces a challenging road to secure the same objectives.  The United Soybean Board has set its budget for the new fiscal year.

Farm groups are sharing mixed responses to the path for financial assistance and new farm policy. Senate Agriculture Committee Chairman John Boozman sees a path forward for a new farm bill prior to the August recess. Rural broadband advocates are backing new bipartisan legislation aimed at improving the accuracy of the nation's broadband maps.

Congressional leaders are dealing with separate spending packages prior to the summer break. Funding the government into the new fiscal year, the military and agriculture assistance are all issues at play. Farm and industry groups today commented on crop insurance, a possible sorghum futures contract and proposed packaging materials legislation.

Senate Agriculture Committee Chairman John Boozman says consideration of the 2026 farm bill largely depends on the return of Kentucky Republican Senator Mitch McConnell to the chamber. Iowa Senator Charles Grassley says options for approving E15 legislation in the Upper Chamber are narrowing by the day.