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Reps continue work to pen ‘skinny Farm Bill’… House Ag committee Chair GT Thompson says he hopes to release some legislative text in September regarding what is being called a ‘skinny farm bill.’ While the One Big Beautiful Bill took care of much of the farm bill, the deep cuts in the Supplemental Nutrition Assistance Program may make it harder to get the legislation over the finish line.
“I still think there’s hope,” said Senate Ag Ranking Member Amy Klobuchar at Farmfest in Minnesota. “There’s hope, because we still have other work to do.”
European Union awaiting details on trade framework… The European Union and the United States are reportedly working to finalize a list of products including aircraft and other items which would trade under a 0% levy. Currently, E.U. semiconductors and pharmaceuticals enjoy duty free status, but are likely to encounter an increase, although the Trump Administration says tariffs on the EU will not exceed 15%.
While a framework deal was reached in July, the particulars remain in flux. The Trump administration assured the EU the details would be coming ‘soon.’ According to Reuters, an EU Commission member noted, “It is an agreement that we believe is strong and the best we could have. Of course, we expect the U.S. to take further steps that are part of this [framework] agreement but I don’t believe at this stage we can put a timeline on these engagements.”
FSA lends leg-up to beginning farmers… Starting a farm from scratch is more expensive than ever. To help, USDA offers farm loans for beginning farmers and ranchers via the Farm Service Agency.
Jason Quintana, a Farm Loan Officer with the Farm Service Agency, says these loans are geared toward those who cannot obtain commercial credit from a bank. He noted that while there is a lot of paperwork associated with these loans, USDA simply wants to make sure all applicants are successful.
“We’re looking at your total operation, whereas sometimes you would look at some of these other structures of loans where they’re looking more towards what you make versus what you have. And debt and looking at different ratios, we like to use those ratios, but more as indicators of where you’re at,” Quintana said.
All direct farm ownership applicants must have participated in the business operations of a farm for at least three out of the last ten years prior to the date the application is submitted to FSA. Guaranteed loans are made by lending institutions that arrange for the FSA to guarantee the loan. FSA can guarantee up to 95 percent of the loss of principal and interest on a loan.
Domestic biomass-based fuel proposals stoke optimism… Clean Fuels Alliance America filed comments with the Environmental Protection Agency on the “Proposed Renewable Fuel Standards for 2026 and 2027,” which proposes a robust step-change in biomass-based diesel and advanced biofuel volumes beginning in 2026. The agency projects the requirement to reach 5.61 billion gallons in 2026, which is more than two billion gallons higher than in 2025.
“The proposal is a welcome signal to U.S. farmers and biofuel producers, and we are ready to meet these higher volumes with domestically-produced fuel,” Clean Fuels said.
Iowa Governor’s Steer Show another rousing success… Des Moines, Iowa - The 43rd annual Iowa Governor’s Charity Steer Show continues to make an impact, raising $569,000 for the Ronald McDonald House Charities of Iowa. Including this year’s donations, the Iowa Governor’s Charity Steer has surpassed $6 million in donations since its inception in 1983.
All money raised benefits the three independent Ronald McDonald House Charities of Iowa, located in Des Moines, Iowa City, and Sioux City. These three houses have served over 55,000 families from all 50 states and many foreign countries. Families from all 99 counties in Iowa have benefited from the Ronald McDonald Houses of Iowa.
“The Governor’s Charity Steer Show has become such an important tradition at the Iowa State Fair. I’m incredibly grateful to the young showmen who worked so hard to be part of this event and support the Ronald McDonald Charities,” said Governor Kim Reynolds. “I also want to thank the Iowa Cattlemen’s Association, the Iowa Beef Industry Council, Iowa’s cattle producers, and the sponsors for their strong commitment to the show each year. What a difference it’s made for so many deserving families.” -source: Iowa Cattlemen’s Association press release
Market moves:
Buyers rolled back into the cattle complex. Heavyweight Choice-graded boxed beef prices surged $8.50 this morning to support futures.
- October live cattle were $2.92 ½ higher at $229.02 ½
- December live cattle up $2.42 ½ to $230.90
- September feeder cattle up $5.65 to $346.25
In today’s USDA report, the national average soybean yield was increased 1.1 bushels per acre to 53.6 bushels, but estimated harvested bean acres are down 800,000 from the June Acreage Report.
- September beans were 21 cents higher at $10.12 ¾
- November beans up 21 ½ cents to $10.32 3/4
- January beans closed at $10.50 ¾, up 21 1/4 cents