Agri-Pulse DriveTime Podcast

Two commodity grower leaders say Congress has the power to improve the financial outlook for corn and soybean growers.  American Soybean Association Chairman Caleb Ragland says farmers need the certainty of a new farm bill.  National Corn Growers Chairman Kenneth Hartman says Bridge Assistance is welcomed but they need the additional demand that would come from E-15.

In a 6-3 decision, the Supreme Court today ruled against the Trump administration's use of emergency powers to impose tariffs on U.S. trading partners. The Justices said Congress, not the president, has the constitutional authority to levy tariffs. Following the ruling Trump said he would use a combination of statutes to replicate some of the emergency tariffs. 

The USDA sees a modest easing in crop inputs and a slight increase in some commodity prices for the coming crop year. As expected the department's analysis sees fewer acres planted to corn and larger soybean acreage for the coming year. A bipartisan Soils Caucus has been launched for the 119th Congress. 

Sources suggest the Environmental Protection Agency is expected to submit proposed biofuel blending quotas to the White House this week. The Trump administration hopes to finalize the measures by the end of March. Health and environmental groups are posing a legal challenge to the EPA's recission of the endangerment finding. The USDA's 102nd Outlook Forum begins tomorrow in Crystal City. 

Bayer announced a proposed multi-billion dollar settlement between its indirect subsidiary Monsanto and plaintiffs alleging exposure to Roundup caused cancer. The settlement was filed today in the Circuit Court of the City of St. Louis. The USDA today announced proposed updates to federal line speed regulations in poultry and pork establishments operating under modern inspection systems. CoBank expects fewer acres planted to corn and more to soybeans in the U.S. this year. 

House Agriculture Committee Chairman Glenn "GT" Thompson released the text of Farm Bill 2.0 today. Debate on the measure is scheduled to begin Monday, February 23rd. The Chicago Fed Reserve Bank reports higher land values over the previous year but expects agriculture credit conditions to decline this year. The Supreme Court could rule later this month on President Trump's tariffs.