Farm finances are strong, but rise in land values slows
High commodity prices supported “profit opportunities for many producers across the farm sector” ahead of the spring planting season, although there were concerns about operating expenses, higher interest rates and drought, said the Kansas City Federal Reserve Bank.
USDA climate funding targeted in debt-limit fight
The House Freedom Caucus called for the elimination of “billions (of dollars) of wasteful climate spending,” — a category that would include $20 billion given to USDA conservation programs — as part of an agreement to raise the federal debt limit.
TODAY’S QUICK HITS
Recharging groundwater: California officials approved a federal request to divert 600,000 acre feet of water from the San Joaquin River so it can soak into the ground and replenish the aquifer below the San Joaquin Valley. (Los Angeles Times)
LeGrand on trade advisory panel: Ryan LeGrand, chief executive of the U.S. Grains Council, was among 14 people nominated by President Biden to serve on the U.S. Advisory Committee for Trade Policy and Negotiations. (White House)
USDA awards fertilizer grants: Agriculture Secretary Tom Vilsack announced $29 million in grants to eight independent businesses in Alabama, Colorado, Massachusetts, Missouri, Ohio and Washington State to expand capacity for the 2023 or 2024 crop year. (USDA)
Climate-smart agreements: At the Commodity Classic, Agriculture Secretary Tom Vilsack signed memorandums of agreement for two projects in USDA’s $3.1 billion Partnerships for Climate-Smart Commodities initiative; one aims for 1 million acres of cover crops. (DTN/Progressive Farmer)
Penalty for grain silo death: The Occupational Safety and Health Administration proposed $531,000 in penalties against CHS Inc. for the 2012 death of a worker who suffocated in a corn silo in Roseland, Nebraska. (Labor Department)
ON THE CALENDAR
Monday
U.S. delegation takes part in the second round of negotiations for the Indo-Pacific Economic Framework, through March 19, Bali, Indonesia.
Pat Dumstorff, vice president of product management at Trace Genomics, speaks at luncheon meeting of The Chicago Farmers, 12:30 p.m. ET, Chicago.
Tuesday
The Labor Department releases monthly Consumer Price Index report, 8:30 a.m. ET. The U.S. inflation rate was 6.4 percent in the most recent CPI report.
U.S. Canola Association holds annual meeting, through Thursday, Washington.
USDA releases monthly Livestock, Dairy and Poultry Outlook, 3 p.m.ET.
Wednesday
House Agriculture Committee holds a farm bill listening session, 3 p.m. ET, Waco, Texas. “The event will bring together farmers, ranchers, producers, agribusiness owners, and more to solicit public feedback—an integral part of the Farm Bill reauthorization process,” said the committee announcement. The listening session will be livestreamed.
OMB director Shalanda Young is lead witness at the Senate Budget Committee hearing on the administration’s proposed budget for fiscal 2024, 10:15 a.m. ET, 608 Dirksen.
The National Agricultural Law Center holds the first of a two-part webinar, “What’s up with WOTUS,” noon ET. The second part will be on July 19.
U.S. Apple Association holds Capitol Hill Day, Washington.
Growth Energy holds executive leadership conference, through Saturday. Dana Point, California.
Thursday
Agriculture Secretary Tom Vilsack testifies at Senate Agriculture Committee oversight hearing on the Agriculture Department, 9:30 a.m. ET, 328A Russell.
International Grains Council releases monthly Grain Market Report, London.
Friday
USDA releases annual Honey and monthly Cattle on Feed reports, 3 p.m. ET.
