USDA has suspended $500 million in food bank funding.
The Department says the previous Administration created unsustainable expectations for the Emergency Food Assistance program, pointing to spending authority under the Commodity Credit Corporation.
Senate Democrats are pushing back on the move, saying it would have a “significant and damaging impact,” according to AgriPulse.
Story via Rebekah Alvey with AgriPulse
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Treasury Secretary Scott Bessent stated this week that the government will intervene to help, following China’s withdrawal from the U.S. soybean market. One trader says the industry will remain in a holding pattern until Tuesday.
Farm CPA Paul Neiffer joins us to provide an updated analysis of projected ARC and PLC payments and potential delays due to the ongoing government shutdown.
“It, all of a sudden, says that tracking and fighting hunger is not a priority, apparently, at the federal level.”
In a final rule published in the Federal Register, the Department states that it will no longer base wage rates on the Farm Labor Survey.
Farmers are in the midst of harvest as the government descends into a shutdown and the Farm Bill expires. Key federal departments, crop reporting, and aid programs important to the agricultural sector are now on hold.
Trump’s upcoming talks raise hopes for U.S. soybeans, but China’s record purchases from Brazil and Argentina show America’s market share remains under heavy pressure.
