Record ag trade deficit on course to be halved in five years
The U.S. agricultural trade deficit, forecast at a record $30.5 billion this fiscal year, will narrow in the near term as exchange rates improve and trading partners gain economic strength, said the Agriculture Department in its 10-year agricultural baseline.
‘I will not relent’ on farm bill demands, says Glenn Thompson
The chairman of the House Agriculture Committee insisted on a broad-scale reprogramming of agricultural funding as the price for agreement on the new farm bill on Wednesday. Chairman Glenn Thompson suggested $50 billion in cuts, mostly to climate change and public nutrition programs, earlier this fall to pay for larger spending on crop subsidies.