Breaking: Donald J. Trump (R) is the 47th President Elect of the United States of America defeating Kamala Harris (D)
Farmer confidence rebounds, reaches highest level in a year
High crop yields and a rapid fall harvest helped boost farmer confidence to its highest level since last November, just a month after it fell to its lowest reading in six years, said a Purdue University poll on Tuesday. “Farmers’ optimism about the future shifted in October, leading to an expectation of better financial performance in 2025 than in 2024,” said the monthly Ag Economy Barometer.
Farm-state victories help Republicans win Senate control
Cleveland businessman Bernie Moreno defeated Democratic Sen. Sherrod Brown in Ohio and former Navy SEAL Tim Sheehy beat Democratic Sen. Jon Tester, the only working farmer in the Senate, in Montana as Republicans won a Senate majority in Tuesday’s elections, boosted by farm-state victories. In Nebraska, Republican Sen. Deb Fischer won her third term over an unexpectedly strong challenger.
Farm bailout bill would cost $21 billion
The $21 billion cost of the farm bailout bill filed by Mississippi Rep. Mike Kelly may be too large for Congress to swallow, and it could preclude passage of the new farm bill, said four analysts on Tuesday. Kelly says the bill will keep farmers in operation despite high costs and lower commodity prices, and it is supported by a dozen large farm groups.
TODAY’S QUICK HITS
Challenge electronic tag rule: Three activist rancher groups filed suit in federal court in South Dakota to nullify a new USDA rule requiring electronic eartags and radio frequency identification tags on some cattle and bison to facilitate “trace back” in case of a disease outbreak. (DTN/Progressive Farmer)
Settlement in goat slaughter: The Shasta County government in northern California agreed to pay $300,000 to settle a lawsuit over its enforcement of county fair rules requiring the sale and slaughter of a goat although its young owner didn’t want to part with the animal. (Guardian)
Errors in ADM’s books: ADM share prices fell by 6 percent after the global grain trader lowered its earnings guidance for the year and said it would amend some of its SEC filings to reflect “corrections of newly identified errors” in sales between segments of the company. (CFO Dive)
Black fly larvae farm: Oberland Agriscience, which grows black soldier fly larvae (BSFL) for use as ingredients in the aquaculture, agriculture, and pet feed industries and for soil health, opened a 108,000-square-foot BSFL farm in Halifax, Nova Scotia. (Oberland)
