USDA climate funding targeted in debt-limit fight
The House Freedom Caucus called for the elimination of "billions (of dollars) of wasteful climate spending," — a category that would include $20 billion given to USDA conservation programs — as part of an agreement to raise the federal debt limit.
U.S. farm income noses upward after three years of declines
Commodity prices are still in a trough but U.S. farm income is on the rise for the first time since 2013 because producers are sending more crops and livestock to market than initially expected, said the USDA. It forecast net cash farm income, a measure of liquidity, of $100.4 billion this year, far stronger than the February forecast of $93.5 billion, but only three-fourths of the record set in 2013.
Biggest farm equipment maker also is a large farm lender
"Nothing runs like a Deere," according to an old tagline for the world's largest farm equipment maker, and nothing lends like a Deere, either, says the Wall Street Journal. The company, which lends billions of dollars to farmers who buy its equipment, "is providing more short-term credit for crop supplies such as seeds, chemicals and fertilizer, making it the No. 5 agricultural lender."