Agri-Pulse DriveTime Podcast

The U.S. and China have reached a framework deal on ownership of social media platform TikTok. There were no reports of any agreement on soybeans or other ag commodities. McDonalds has announced a $200 million dollar investment in regenerative agriculture for U.S. cattle ranchers. 

U.S. and Chinese officials will meet in Madrid this weekend. Congress faces an end of fiscal year deadline for a new budget. Democratic leaders may hold out for concessions from the majority. USDA's WASDE forecast higher corn and soybean production but markets moved higher in Chicago. 

Calls from farmers and the agriculture industry for financial assistance and a new farm bill are growing louder from across the country. Nearly 300 members of the National Farmers Union are in Washington meeting with legislators. Rob Larew says farm program supports need to be evaluated. 

The Agri-Pulse annual CEO Compensation Report based on IRS data is out suggesting top ag leader compensation was up on average over $30,000 from last year's levels.  The Interior Department and other government agencies lost a significant share of their workforce to deferred resignation programs.  

The MAHA Commission report and casts a different view of production agriculture than the first report.  Members of the National Pork Producers Association are in Washington and lobbying for new farm policy. Today is Hunger Awareness Day. 

U.S. corn and soybean crops continue to advance although condition declined again over the last week.  This season's crop forecast will be updated Friday by the USDA.  The outlook for record crops suggests prices will fall and government subsidies will be higher.