Farms.com Home   Ag Industry News

Food Stamps Kills Farm Bill

Food Stamps Kills Farm Bill

U.S. House Defeats Farm Bill

By Amanda Brodhagen, Farms.com

The Republican controlled House rejected the massive Farm Bill on Thursday - the vote was 234-195 against the measure.

The majority of Democrats in the House, 24, voted no because they opposed the food stamp cuts. But Democrats weren’t the only ones who voted no, 62 Republicans also voted against the bill, which called for deeper cuts to food stamps. About 80 percent of the farm bill currently goes towards food stamps, while the remaining falls under farm policy.

U.S. Agriculture Secretary Tom Vilsack calls the defeat of the farm bill “disappointing,” noting that a lack of leadership is to blame. Vilsack also said “the House version of this bill would have unfairly denied food assistance for millions of struggling families and their children, while failing to achieve needed reforms or critical investments to continue economic growth in rural America.”

Another extension of the 2008 farm bill would make most farmers happy, with dairy farmers being the exception.  If the bill is extended for the second time, that would mean that farmers would receive direct payments for crops, no changes to crop insurance and no cuts to food stamps.  
 


Trending Video

Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?


Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
2026 U.S. winter wheat planting is nearly complete at 97% while crop conditions improved by 3 points to 48% good-to-excellent. US corn & soybean harvest is complete.
High corn demand, which is off the chart, and more Chinese soybean demand could support a Christmas rally.
Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
Fertilizer prices continue to climb as we look ahead to 2026. Farmers may rely more on the nutrients that they already have in their soils.
South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.