Wiesemeyers Perspectives | America's Farm Crisis Demands More Than Just Hope
Trade wars and policy shifts create mounting pressure on US agricultural exports, while domestic utilization initiatives offer glimmers of hope for struggling farmers. Congress returns with growing awareness of the cash flow crisis in agriculture, as industry leaders debate the potential need for another economic aid package.
• US agricultural trade deficit widens to $47 billion, with USDA forecasting $41.5 billion for next fiscal year
• China's boycott of US soybeans significantly impacts grain-producing regions like North Dakota
• USMCA talks begin, with Mexico remaining a top export destination despite trade tensions
• California approves E15 ethanol, potentially boosting demand by 600-800 million gallons
• Farm income appears artificially high due to $40 billion in government assistance payments
• RFK Jr.'s food policy initiatives create controversy in congressional hearings
• Japan agrees to increase rice quota by 75% and purchase $8 billion in US agricultural commodities
• US market share in global agricultural trade for key commodities continues declining trend
• Fed expected to cut interest rates by at least 25 basis points on September 17th
• Supreme Court appeal of tariff ruling could have significant implications for trade policy
Contact Jim Wiesemeyer at wiesemeyer@gmail.com for his free agricultural policy newsletter.
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