Farmers looking ahead to harvest should get hedged even though President Trump will use a Great Depression-era program to pay up to $12 billion to help U.S. farmers through the trade war talks. Maybe Willie Nelson should come play at the Trade talks with President Trump and President of the European Commission Jean-Claude Juncker. Any sign that Trump and Juncker can lay the groundwork for a trade deal could set oil, distillate, grains and metals on a tear.
Surging supplies of U.S. corn and soybeans coupled with higher revenue for specialty crops will boost farm incomes to a record this year even after grain prices fell, the U.S. Department of Agriculture said.
House Republicans passed a five-year U.S. farm-policy bill that retains subsidies to farmers and strips out food-stamp spending, costing it Democratic support.
Tucked deep in the 1,198-page U.S. House agriculture policy legislation is an initiative to guarantee prices for sushi rice. So too is insurance for alfalfa and a marketing plan for Christmas trees.
The U.S. Senate passed a $955 billion rewrite of agriculture law by an even larger margin than last year, sending it to the House of Representatives, where disagreements over food stamps and farm subsidies may complicate passage.