President Trump Overturns WOTUS

Mar 01, 2017

By Jennifer Myers

The National Corn Growers Association today applauded President Donald Trump for issuing an executive order repealing the 2015 Waters of the U.S. (WOTUS) rule.

“We appreciate the Trump Administration’s commitment to reducing regulatory burdens for America’s farmers and ranchers,” said NCGA President Wesley Spurlock. “We fully support the repeal of the WOTUS rule. Farmers and ranchers care deeply about clean water, but this rule had significant flaws. It was arbitrarily written, legally indefensible, and extremely difficult to implement.”

The WOTUS rule, which was issued by the U.S. Environmental Protection Agency and Army Corps of Engineers under the Obama Administration, was challenged in courts by more than 30 states, environmental organizations, and numerous industry groups including the National Corn Growers Association. In October 2015, a federal appeals court issued a stay preventing the rule’s implementation.

“NCGA remains committed to work with the EPA to ensure farmers have clarity and certainty they need about the regulations affecting their operations,” said Spurlock.

About NCGA

Founded in 1957, the National Corn Growers Association represents more than 40,000 dues-paying corn farmers nationwide and the interests of more than 300,000 growers who contribute through corn checkoff programs in their states. NCGA and its 49 affiliated state organizations work together to create and increase opportunities for corn growers.

Source:NCGA

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!