Congress Extends PPP Application Deadline

Congress recently approved Farm Bureau-backed legislation that extends the Paycheck Protection Program application deadline by two months, from March 31 to May 31, helping more farmers and ranchers participate in the loan program, according to the American Farm Bureau Federation.

 

“The existing March 31 deadline does not allow enough time for newly eligible farmers and ranchers to apply, nor does it adequately account for the required eight-week waiting period between first draw approval and second draw applications,” AFBF President Zippy Duvall said in a letter to House and Senate Small Business Committee leaders in support of the PPP Extension Act of 2021 (H.R. 1799). The measures’ sponsors – there were two bills, a House version and a Senate version – were also included in the letter.

 

The PPP is a low-interest Small Business Administration loan program that helps small businesses keep employees on their payrolls. The SBA forgives loans if employee retention criteria are met and the funds are used for eligible expenses.

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.