The USDA estimates the corn crop will sell for a season-average $5.70 a bushel, soybeans for $13.85, and wheat for $6.50. Those would be the highest farm gate prices since 2013 for corn and soybeans and the highest since 2014 for wheat.
Read moreRepublican Senator Chuck Grassley introduced Vilsack at the Ag Committee hearing, an indication of bipartisan support for the nominee to succeed Sonny Perdue.
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Dry weather and an uptick in demand from China has influenced the supply-and-demand scenario on grains.
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If confirmed, Vilsack will face challenges related to diminished trade, a decline in rural populations, a mandate to combat climate change, and a burdened food stamps program.
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This is the second round of assistance the administration will send to farmers. It distributed $19 billion earlier this year.
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The last time federal payments accounted for a greater percentage of farm income was 2001 at 41 percent. Sonny Perdue said Monday he hopes to announce a new version of coronavirus relief this week.
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Iowa, Nebraska and Wisconsin have collected one-fourth of USDA’s corona-virus relief payments. California has the largest average payment.
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The president of the North Dakota Farmers Union said the industry has rarely seen such obvious market abuses by the meatpacking industry.
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Farmers and ranchers seeking a lifeline from the Agriculture Department can sign up for a relief check starting Monday.
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In spite of challenges such as the coronavirus and competition from Brazil, the USDA’s chief economist sees “more hopeful signs” for farmers.
Read moreUSDA has rolled out the final tranche of 2019 payments to farmers hurt by global trade disputes. The funds could bring total payments for the year close to $14.5 billion.
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U.S. officials have developed a 100-percent effective vaccine against African swine fever, but it likely will not be available for commercial use for years.
Read moreUSDA will decide in January whether to issue the third tranche of payments under the 2019 Market Facilitation Program. A trade deal with China will not necessarily stop USDA from releasing the money.
Read moreThe FCC will establish a $9 billion fund to deploy advanced wireless services to rural America and designate $1 billion for precision ag needs. The USDA continues to invest in broadband infrastructure.
Read moreHarvests for corn, soybeans, and cotton is not as far along as the average of previous years.
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The USDA is providing up to $800 million in block grants to states hit by Hurricanes Florence and Michael in 2018. A spokesperson said $381 million will go to Florida, $337 million to Georgia and $25 million to Alabama.
Read moreState departments of ag have adopted new policies on climate resiliency. The USDA hopes to boost funding for the same issue after distributing more than $3 billion in disaster money to farmers.
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