More than 20 lawmakers have written Ag Secretary Brooke Rollins, warning the plan could go sideways for farmers. They argue Congress was left in the dark and warn any future moves out of the Beltway would be a mistake.
The group of 23 lawmakers who wrote USDA leadership were all democrats, but some Republicans, like Iowa Senator Chuck Grassley, also took issue with the roll out. He says that USDA only came to the table after the fact, leaving lawmakers little time to digest the information.
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Corn and wheat exports remain supportive, but weaker soybean demand — especially from China — continues to pressure oilseed markets.
China’s pullback is hitting core U.S. commodities hard, reshaping export expectations for soybeans, cotton, grains, and livestock.
Slower grain movement may pressure basis, but falling diesel prices could help offset transportation costs.
The U.S. has a bountiful corn supply, but markets are waiting for the January WASDE Report, which will include updated yield estimates.
Rising federal debt is increasing pressure on Washington to limit spending, which could tighten future funding and delivery for agricultural programs.
“I’m not sure where this bridge goes,” trader Brady Huck with Advanced Trading told RFD-TV News earlier this week.
