Today, the House Ag Committee Subcommittee on Commodity Exchanges, Energy, and Credit held a hearing entitled “A 2022 Review of the Farm Bill: Rural Development.” The sole witness was USDA Under Secretary for Rural Development Xochitl Torres Small. Key takeaways from the hearing prepared by Delta Strategy Group below.
Category: News
News from the American Cotton Shippers Association
Senate Commerce Hearing Held Hearing on the Ocean Shipping Reform Act
Yesterday, the Senate Commerce Committee held a hearing on the Ocean Shipping Reform Act. The witnesses were Federal Maritime Commission (FMC) Chairman Daniel Maffei and FMC Commissioner Rebecca Dye. Following the hearing, Chairperson Maria Cantwell (D-WA) said the Ocean Shipping Reform Act could see a vote by “next week, if we can get there.” Senator Cantwell said she has spoken with Representative John Garamendi (D-CA), the sponsor of the House-passed version of the bill, about the issue, but that they did not get into details about the legislation. A summary of significant comments from the hearing prepared by Delta Strategy Group here.
Yuan Associates Provides Analysis on the Russian/Ukrainian Conflict and Impacts on China
This morning, Yuan Associates shared their analysis of the Russian/Ukrainian situation, the potential impact on future changes in the world pattern, and the impact of the crisis on China’s geopolitical and economic environment.
Senate Ag Committee Look to Fill CFTC Positions
Yesterday, Senate Agriculture Chair Debbie Stabenow (D-MI) called for quick confirmation of four nominees to the Commodity Futures Trading Commission during a hearing. After the hearing, Senator Boozman (R-AR) echoed Senator Stabenow’s urgency to confirm the nominees. He told reporters he does not “anticipate any problems” reporting any of them out of the committee and on to the Senate floor. “We’ll have a vote as soon as possible,” Senator Boozman said.
ACSA Endorses the Four CFTC Current Nominees
Today, the American Cotton Shippers Association along with 18 other commodity groups sent a letter to Congressional leadership to endorse the four current nominees to be commissioners of the Commodity Futures Trading Commission.
House Ag Committee Holds Hearing on Title 1 Programs
Today, the House Agriculture Committee held a hearing entitled “A 2022 Review of the Farm Bill: Commodity Group Perspectives on Title 1.” The witnesses were President of the American Soybean Association Brad Doyle, Director of Economics at the American Sugar Alliance Robert Johansson, Vice President of the National Association of Wheat Growers Nicole Berg, Jaclyn Ford of the National Cotton Council, Verity Ulibarri of the National Sorghum Producers, Clark Coleman of the National Sunflower Association, Jennifer James of USA Rice, President of the National Corn Growers Association Chris Edgington, and Meredith McNair Rogers of the U.S. Peanut Federation.
The Biden Administration Announces Investment for Physical Infrastructure
Today, the Biden Administration announced that it will invest more than $14 billion in funding for over 500 projects across the United States and associated territories. According to the fact sheet, the investment will include “$8 million to improve commercial navigation and allow larger and more ships to pass at the Port of Long Beach, California – part of the nation’s largest port complex. The investment will support design work to widen the port’s main channel, deepen the entrance channel, and build an approach channel and turning basin. It also builds on the $52 million grant the Administration previously announced to support the Port of Long Beach’s on-dock rail facility, as well as a multi-billion dollar loan agreement with California to modernize the state’s ports, freight, and other goods movement infrastructure.”
ACSA Presents on Logistical Challenges Facing Our Industry
On January 5th, ACSA President/CEO Buddy Allen presented at 2022 Beltwide Cotton Conference on the logistical challenges that the cotton industry is currently facing. Mr. Allen presented on the current realities of the supply chain but provided encouraging comments about still achieving the USDA projected export number. He stated, “We do believe we’re going to get there, but it’s going to take a big shift in shipments going forward to meet our export goals.” Delta FarmPress’s Ginger Rowsey discussed the presentation in her January 19th article.
ACSA Discusses the Current Shipping Challenges for Ag Exports
On January 6th, ACSA President/CEO Buddy Allen and ACSA’s Transportation, Documentation, and Insurance Committee Chairman Michael Symonanis discussed the challenges faced by all links in the cotton supply chain. The article states, “The cotton export industry is primed for growth, and the logistics industry must solve the current supply chain challenges in preparation for volumes expected to exceed historical highs.”
China’s 2021 Central Economic Work Conference
From December 8th through December 10th, China held its 2021 Central Economic Work conference in Beijing. See the link below for more details on the topics highlighted in the conference.
