While the U.S. and China have reached a deal for China to buy U.S. agricultural goods, the market is waiting for China to drop tariffs before transactions take place. Reuters reports no substantial purchases can happen with a 25 percent duty still in place on U.S. soybeans, corn, sorghum and wheat, according to buyers and analysts.

China over the weekend agreed to a trade war ceasefire, and the White House said China had promised to buy an unspecified but “very substantial” amount of agricultural, energy, industrial and other products, with purchases of farm goods to start “immediately.” Though, Agriculture Secretary Sonny Perdue says the purchases will likely start next month.

China’s foreign ministry said on Monday that the two presidents had instructed their economic teams to work towards removing all tariffs. Until then, Brazil is nearing harvest season of its soybean crop and, being cheaper, could instead supply China’s soybean needs.

The Missouri Department of Agriculture is accepting nominations for the Missouri Agriculture Awards. As part of the Missouri Governor’s Conference on Agriculture in January, the Missouri Agriculture Awards will honor six individuals that strive to innovate their farm or ranch, give back to their communities, commit to land stewardship or stand as a great example for future generations.

Award categories include Missouri Agriculture Environmental Steward, Missouri Farm Innovation, Missouri Agriculture Education Leader, Missouri Food Animal Veterinarian, Missouri Agriculture Volunteer Award and the Missouri Agriculture Communicator.

Nominations are due to the Department of Agriculture by Friday, Dec. 7. The winners will be recognized during the Missouri Agriculture Awards luncheon with Governor Parson at the conference on Thursday, Jan. 10.

Completed nomination forms may be submitted in three ways: Through an online form at Agriculture.Mo.Gov/awards, Emailed to AgInfo@mda.mo.gov (subject line: Award Nomination), or Mailed to the Missouri Department of Agriculture – Awards Nomination at 1616 Missouri Blvd., Jefferson City, MO, 65109.

Farmers are expressing concern over the lack of a new farm bill in the latest Purdue University/CME Group Ag Economy Barometer.

The monthly survey in November asked producers how concerned they were regarding the farm bill. 75 percent of respondents said they were either somewhat or very concerned about the lack of a new farm bill with 33 percent of respondents indicating they were very concerned. Just 24 percent of survey respondents said they were not at all concerned about the lack of new farm bill legislation.

The November survey reading announced Tuesday was 134, a decline of just over one percent from a month earlier when the barometer stood at 136. The November reading leaves the barometer six percent below its most recent peak, which was reached back in June before the impact of trade disruptions were felt throughout much of U.S. agriculture.

The Barometer surveys 400 agricultural producers monthly. Overall, a rating below 100 is negative, while a rating above 100 indicates positive sentiment regarding the agriculture industry.

Net farm income, a broad measure of profits, is forecast to decrease $9.1 billion, or 12.1 percent from 2017 to $66.3 billion in 2018, after increasing $13.8 billion in 2017. The Department of Agriculture’s Economic Research Service recently announced the forecast. USDA says, meanwhile, net cash farm income is forecast to decrease $8.5 billion, 8.4 percent, to $93.4 billion.

Net farm income is a comprehensive indicator of U.S. farm profitability, while, net farm cash income less comprehensive and does not include noncash items, according to the American Farm Bureau Federation. Cash receipts for all commodities are forecast to increase $2.5 billion, However, when adjusted for inflation, cash receipts for all commodities are forecast to decline $6.1 billion, with crop cash receipts forecast to decline $1.6 billion and livestock cash receipts to decline $4.5 billion.

AFBF Chief Economist John Newton writes that the challenging financial situation highlights the need for improved access in key foreign markets, along with continued commitments to renewable energy, reduced regulatory burdens and a completed farm bill. Combined, Newton says “these efforts will go a long way toward improving the farm economic outlook.”

Agriculture eagerly awaits any details regarding increased purchases of U.S. ag products by China. President Trump over the weekend said following a discussion with China that the nation “will be buying massive amounts of product from us,” promising an “incredibly positive impact on farming.” Politico reports, however, there is no guarantee China will hold its end of the bargain, as China’s statement on the talks made no mention of ag products. There are also little details in the announcement from Trump as the quantities and specific products are undetermined, though the White House says the purchases will begin “immediately.” The U.S. Meat Export Council called China’s willingness to return to the negotiating table encouraging, but added that “exports cannot reach their full potential until the retaliatory duties imposed by Mexico, China and Canada are removed.” Trump also signed his North American Free Trade Agreement replacement on Friday that does not address steel and aluminum tariffs on Canada and Mexico, which both have retaliatory tariffs in place over.

House Majority Leader Republican Kevin McCarthy of California Monday said the House of Representatives will not hold any votes this week due to the mourning and funeral for the late President George H.W. Bush. The announcement means the farm bill will not move forward this week, and the conference report that was expected early this week is now anticipated early next week, according to the Hagstrom Report. President Donald Trump has closed federal offices Wednesday, the day of Bush’s funeral. Trump is also threatening a government shutdown, but indicated over the weekend, he may approve funding extensions because of the limited schedule this week, pushing contentious issues later into the month, while still providing an opportunity to sneak the farm bill through the system before highly political issues, including the border wall, are tackled. The schedule leaves a week of planned time for lawmakers to wrap up the year.

The Environmental Protection Agency released its 2019 renewable volume obligations under the Renewable Fuels Standard. EPA boosted final RFS volumes slightly from its earlier proposal to nearly 20-billion gallons next year. That includes up to 15 billion gallons of mostly corn ethanol, nearly 5 billion gallons of advanced biofuel, over 2 billion gallons of biodiesel, and 418 million cellulosic gallons. Overall levels next year will be three percent higher than in 2018. Reaction to the news was mixed from various Ag groups. Growth Energy CEO Emily Skor says, “The latest EPA rule is also a missed opportunity to correctly account for billions of gallons of ethanol lost to refinery exemptions.” Until those lost gallons are taken into account, she said it’s “two steps back for every step forward.” The National Biodiesel Board says EPA sets the advanced biofuel and biomass-based diesel volumes lower than what the agency acknowledges will be produced. The NBB also says the rule leaves open a backdoor to retroactively reduce required volumes through hardship waivers. Iowa Senator Chuck Grassley says the total approaches 20 billion gallons. “The biofuel blending levels for 2019 are good news for farmers, biofuels producers, and all Americans,” he said. “The increased levels are an encouraging development after a year of often disappointing news from the EPA,” Grassley says.