Last week on Friday 17 May, WPI outlined the commodity program proposals in the House farm bill draft. Below are some key changes in the conservation and trade titles. The Committee hails its reforms to the Conservation Reserve Program (CRP) as the first attempt at clarifying and simplifying the program since it was created in the 1985 farm bill. The first is incentivizing the enrollment of marginal lands by basing rental rates on the “land capability classification.” That classification shows the suitability for soils for crop production; the suitability for crop production decreases progressively along the seven categories. The proposed CRP rental rates would be as follows:
Class 1 & 2: 85 percent of the county average...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
