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Thank a Farmer for Food, Fiber, Fuel, and Our Future

By Bob Andrzejczak

March 22 is National Ag Day, a time for us to thank farmers and ranchers for feeding, sheltering and powering our nation. We also want to celebrate and recognize the pivotal role of producers in mitigating climate change through voluntary conservation efforts.

Climate change is happening, evidenced by persistent drought, frequent tornadoes and storms, and larger and more powerful wildfires. Our agricultural communities are on the frontlines. Now is the time for us to act, and New Jersey producers are doing their part.

We’re focused on providing producers tools to help mitigate climate change. As part of this, the Biden-Harris Administration has taken proactive steps to improve programs.

We bolstered the Conservation Reserve Program, providing an incentive for climate-smart practices and investing in partnerships to better quantify the benefits of this program.

With our Environmental Quality Incentives Program, we launched a new cover crop initiative as well as new conservation incentive contract option, all with a goal to make available additional funds to help producers conserve natural resources.

And finally, we’re enhancing Federal crop insurance to support conservation. In 2021 and 2022, we provided producers with a premium benefit for acres planted to cover crops.

You might be wondering, why so much emphasis on cover crops? Cover crops help soil sequester more carbon, a key tool for mitigating climate change; they prevent runoff, leading to cleaner water; and they boost production through improved soil health. But cover crops are just one tool, and producers in New Jersey are also using residue and tillage management, grassed waterways, mulching, nutrient management, and tree & shrub establishment.

Our staff work one-on-one with producers to conserve natural resources, grow and improve their operations, and manage risk. This year’s National Ag Day theme is “Growing a Climate for Tomorrow.” We know from firsthand experience – farmers are doing this. On National Ag Day, and every day, we encourage you to thank a farmer or rancher for food, fiber, and fuel – and our future.

Source : usda.gov

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

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!