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Treasury Secretary Mentions U.S. Possibly Rejoining TPP

It’s been over a year since President Trump pulled the U.S. out of the multi-national Trans-Pacific Partnership. Treasury Secretary Steven Mnuchin says the U.S. is willing to discuss possibly rejoining the trade pact. He spoke recently at an investment summit meeting sponsored by the U.S. Chamber. According to Mnuchin, renegotiating the agreement is “absolutely on the table” and he’s been in contact with the other countries about what it would take for the United States to reverse course. The New York Times says the president appears to have found renewed interest in an agreement he once described as “the rape of our country.” Mnuchin says, “I’ve met with several of my counterparts and we’ve begun to have very high-level conversations about TPP. While it’s not a priority at the moment, it’s something the president will consider.” Trump opened the door to possibly looking again at the agreement at the World Economic Forum in Switzerland. “If we did a substantially better deal,” Trump said in an interview with CNBC, “I would be open to TPP.” During his remarks, Mnuchin said those comments were “quite significant” and yielded positive reaction around the world. However, the 11 countries remaining in the soon-to-be-signed TPP were a little more cautious in their reactions to the idea.

Wednesday’s closing grain bids

February 28th, 2018

 

St Joseph

 

Yellow Corn

3.45 – 3.52

White Corn

no bid

Soybeans

9.87 – 9.95

LifeLine Foods

 3.50

 

 

Atchison

Yellow Corn

 3.64

Soybeans

 9.95

Hard Wheat

 4.63

Soft Wheat

 3.94

 

 

Kansas City Truck Bids

 

Yellow Corn

3.61

White Corn

no bid

Soybeans

10.10 – 10.15

Hard Wheat

5.08

Soft Wheat

 4.49

Sorghum

5.79


USDA Cash Grain Prices

For more information, contact the 680 KFEQ Farm Department.
816-233-8881.

Rumors of Renewed Attacks on RFS Worry Soybean Growers

(ASA) In response to reports of a potential meeting this week on renewable fuels at the White House, the American Soybean Association reiterates its strong support for the Renewable Fuel Standard and its concerns about proposals that may undermine the program. ASA President John Heisdorffer issued the following statement:
“The RFS helps to maintain demand for soybeans in biodiesel in a time when farm income and crop prices are down significantly. It is functioning as intended and serves as a strong engine driving the rural economy. The RFS has been successful in expanding new markets for our farmers, creating new jobs in rural America, giving consumers more fuel choices, and improving our nation’s air quality. “Despite the claims of adverse impacts from Renewable Identification Number (RIN) costs, last November, the Environmental Protection Agency concluded that RIN values are not causing economic harm to refiners. A true win-win for everyone would be a long-term, multi-year extension of the the biodiesel tax credit. It helps biodiesel grow and lowers the cost of compliance for obligated parties. President Trump has exhibited and reiterated strong support for the RFS, and we look to him to continue his support. We strongly urge President Trump to reject any proposals that would undermine the purpose and intent of the RFS, and instead pursue options to address refiners’ concerns that do not undercut the RFS or harm a program that provides important benefits for farmers and rural communities.”

FSA Says Submit Loan Requests for Financing Early

(FSA) The Farm Loan teams around the country are already working on operating loans for spring 2018, so it is important that potential borrowers submit their requests early so they can be timely processed. The farm loan team can help determine which loan programs are best for applicants. FSA offers a wide range of low-interest loans that can meet the financial needs of any farm operation for just about any purpose. The traditional farm operating and farm ownership loans can help large and small farm operations take advantage of early purchasing discounts for spring inputs, as well expenses throughout the year. Types of loans available include;
Microloans are a simplified loan program that will provide up to $50,000 to eligible applicants. These loans, targeted for smaller operations and non-traditional operations, can be used for operating expenses, starting a new agricultural enterprise, purchasing equipment, and other needs associated with a farming operation. The staff at the Caldwell County FSA office can provide more details on farm operating and microloans and provide loan applications. Loans to beginning farmers and members of underserved groups are a priority.
Marketing Assistance Loans allow producers to use eligible commodities as loan collateral and obtain a 9-month loan while the crop is in storage. These loans provide cash flow to the producer and allow them to market the crop when prices may be more advantageous.
Farm Storage Facility Loans can be used to build permanent structures used to store eligible commodities, or for storage and handling trucks, or portable or permanent handling equipment. A variety of structures are eligible under this loan, including bunker silos, grain bins, hay storage structures and refrigerated structures for vegetables and fruit. A producer may borrow up to $500,000 per loan.
Please call your local office if you have questions about any of the loans available through FSA.​

Tuesday’s closing grain bids

February 27th, 2018

 

St Joseph

 

Yellow Corn

3.45 – 3.48

White Corn

no bid

Soybeans

9.85 – 9.88

LifeLine Foods

 3.46

 

 

Atchison

Yellow Corn

 3.60 – 3.61

Soybeans

 9.88

Hard Wheat

 4.44

Soft Wheat

 3.73

 

 

Kansas City Truck Bids

 

Yellow Corn

3.58

White Corn

no bid

Soybeans

10.08

Hard Wheat

4.84

Soft Wheat

 4.19

Sorghum

5.72


USDA Cash Grain Prices

For more information, contact the 680 KFEQ Farm Department.
816-233-8881.

Chairman Roberts Announces Full Senate Confirmation of Bill Northey

Iowa Ag Secretary Bill Northey

U.S. Senator Pat Roberts, R-Kan., Chairman of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, today is pleased to announce that William Northey was approved by the U.S. Senate. Upon swearing in, William Northey, of Iowa, will serve as Under Secretary of Agriculture for Farm and Foreign Agricultural Services within the U.S. Department of Agriculture (USDA). “I’m pleased the Senate advanced Mr. Northey’s nomination. I have no doubt he will be a champion for farmers and ranchers at USDA. Our Committee worked in a bipartisan fashion to get Mr. Northey down the road to work at USDA,” Roberts said. The Senate Agriculture Committee held a hearing on William Northey on Oct. 5. Northey was favorably reported out of the Committee with a bipartisan voice vote and has the support of more than 60 farm and conservation organizations.

Pruitt and Perdue Present RFS Proposal to Trump

Environmental Protection Agency chief Scott Pruitt and Ag Secretary Sonny Perdue met with President Trump on Monday and presented a package of potential changes to the Renewable Fuels Standard. Politico reports the proposal is aimed at ending a squabble between corn farmers and oil refining firms over the program. The proposals include capping the price paid for biofuels credits, which are called Renewable Identification Numbers, as well as a year-round waiver for the sale of E-15 ethanol blends. Other ideas include creating credits for exported ethanol, as well as a transparency measure intended to cut Wall Street investors out of trading in the program. All of these changes would be executed administratively, rather than through legislation. The pitch comes a day ahead of a meeting that Trump is scheduled to host with corn-state and oil-patch lawmakers. The guest list includes Senators Chuck Grassley and Joni Ernst of Iowa, Ted Cruz of Texas, and Pat Toomey of Pennsylvania, all of whom are Republicans. Chief of Staff John Kelly and National Economic Council Director Gary Cohn will also be there.

Monday’s closing grain bids

February 26th, 2018

 

St Joseph

 

Yellow Corn

3.43 – 3.46

White Corn

no bid

Soybeans

9.81 – 9.87

LifeLine Foods

 3.44

 

 

Atchison

Yellow Corn

 3.58 – 3.59

Soybeans

 9.84

Hard Wheat

 4.22

Soft Wheat

 3.69

 

 

Kansas City Truck Bids

 

Yellow Corn

3.56

White Corn

no bid

Soybeans

10.04

Hard Wheat

4.73

Soft Wheat

 4.16

Sorghum

5.69


USDA Cash Grain Prices

For more information, contact the 680 KFEQ Farm Department.
816-233-8881.

McKinney Leads Trade Mission to Central America

Ag Department Under Secretary for Trade and Foreign Agricultural Affairs Ted McKinney will lead a trade mission to Central America. The mission will be in Guatemala from February 26 to March 2nd. McKinney will be accompanied by a delegation of agribusiness and state government leaders who are looking to increase agricultural exports to Central America’s Northern Triangle of Guatemala, Honduras, and El Salvador. “The Northern Triangle offers significant market opportunities for exporters of U.S farm and food products,” McKinney says. “Thanks to population and economic growth in the region, demand for imported goods, particularly high-value, consumer-oriented food products, is rising.” More than 95 percent of U.S. agricultural exports enjoy duty-free access to the region under the CAFTA-DR agreement.” Since implementing the agreement in the Northern Triangle in 2006, ag exports have doubled, totaling $2.2 billion in 2017. While the mission is based in Guatemala, mission participants will also have the chance to connect with importers from El Salvador and Honduras, who are scheduled to travel to Guatemala. The USDA Foreign Ag Service will set up around 450 one-on-one business meetings between U.S. delegates and representatives from local companies who are interested in purchasing U.S. goods.

Trump to Meet with Cabinet, Senators of Biofuels

President Trump has scheduled a meeting with Cabinet officials and key Senators to talk over potential changes to the nation’s biofuels policy. The Renewable Fuels Standard is coming under increasing attack after a bankrupt Pennsylvania refinery blamed its troubles on the regulation. The meeting comes as two of the more powerful lobbying groups, the oil and corn/ethanol industries, continue to clash over the future of the RFS. A Reuters report says Trump’s engagement on the issue may reflect the value of protecting jobs in a key electoral state. The meeting is scheduled for next Tuesday. It will include several officials, such as oil-patch senator Ted Cruz of Texas, as well as corn-state senators Chuck Grassley and Joni Ernst of Iowa. One source told Reuters that the meeting will focus on keeping Philadelphia Energy Solutions in business. The company is asking a bankruptcy judge to eliminate nearly $350 million of its current RFS compliance cost, which is owed to the Environmental Protection Agency. Another source says the discussions will consider capping the cost of biofuel credits and allow ethanol blends to be sold year round.

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