Pro Farmer
View newsletter here.
Sentiment in the July Ag Economists’ Monthly Monitor is improving and no one sees the downturn deepening, but interest rates, elevated input costs and corn’s shaky price outlook still cloud the path to 2027.
The Senate Agriculture Committee failed to advance its Farm Bill after a 10-11 vote yesterday, with disagreements over Supplemental Nutrition Assistance Program (SNAP) cost-sharing preventing the measure from moving forward before Congress’s August recess.
Senate Ag Committee’s 10-11 farm bill vote stalls the legislation, but a bipartisan 17-6 vote on mandatory country-of-original labeling keeps mandatory beef labeling alive for a potential September revote.
Farm bill fails to make it out of Senate Ag Committee
Tighter global stocks, new trade deals, and a higher MAL base rate alter the downside risk setup as the new marketing year opens.
As input costs remain elevated, fall lease deadlines are putting renewed focus on cash rents and farmland values.
Acres effected are up nearly 40% over the past month
Corn, soybeans and wheat each traded in tight ranges overnight, straying little from unchanged.