Weekly Update for
October 10

There is no time to waste when getting a farm bill passed this year. While Congress is out until after the election, they must continue to hear from growers about the need to get a robust farm bill passed when they return for the “lame duck” session. NAWG encourages wheat growers to continue meeting with their lawmakers about enacting a robust and long-term farm bill this year. Earlier this week, NAWG President Keeff Felty met with Congressman Frank Lucas and used the opportunity to talk about NAWG’s priorities. In reflecting on his meeting President Felty commented, “I would like to encourage everyone to reach out to your legislators while they are back in their respective districts this month to further advocate for the completion of the Farm Bill during this calendar year.” Additionally, we would encourage you to check out NAWG’s new 2024 Farm Bill advocacy campaign urging Congress to work to pass a robust farm bill this year. While there are only a few weeks left on the legislative calendar, lawmakers need to continue hearing from growers about the need to enact a long-term farm bill that strengthens the farm safety net. Learn more and get involved below.

On September 27, Representative Sharice Davids sent a letter to Under Secretary Bonnie discussing the need for wheat to be recognized as a cover crop and rotational crop. This comes from the need for clarification of wheat attributed in order for producers to be eligible for more climate-smart programs and or tax credits. The letter also highlighted the continued conservation efforts of wheat producers and the need to include all production systems in USDA programs. NAWG staff remains in contact with members of Congress, congressional staff, and USDA officials on this critical issue.

The deadline to register and book your hotel room for the NAWG/USW 2024 Fall Meeting is October 18, 2024. This event is scheduled for Tuesday, November 12 through Thursday, November 14, 2024, in Phoenix, AZ, at The Sheraton Grand at Wild Horse Pass Hotel. We would encourage officers and staff to arrive before lunch on Tuesday, November 12. Regarding departures, the NAWG board of directors meeting is scheduled to end at noon on Thursday, November 14. The airport is a 20-minute drive from the hotel. Please plan your travel accordingly. You will find everything you need on our Wheat Industry Fall Conference website page. 

On October 10, the Kansas Federal Reserve released its Agriculture Finance Update report showing an increase in farm debt. Outstanding non-real estate debt has increased by 10% this year. Overall, credit conditions have tightened due to the increased loan needs from producers, as reflected by increased input costs. Real estate debt has increased by 2% this year as many producers have slowed land sales. Most of the farm debt has increased through agriculture lenders at 15% for non-real estate notes.  

On October 3, the East and Gulf Coast port strikes ceased due to a tentative agreement between the International Longshoremen’s Union and the U.S. Maritime Alliance. The three-day strike could have caused a $1.4 billion a week issue with agriculture trade, according to the American Farm Bureau Federation. National Pork Producers weighed in on the issue sharing, “Much of U.S. agriculture is experiencing lower commodity prices and financial strain, and these transportation issues could have exacerbated the situation.”

On October 7, the USDA Farm Service Agency announced an additional $250 million in automatic payments for distressed direct and guaranteed farm loan borrowers. Since the implementation of the Inflation Reduction Act, USDA has issued $2.4 billion in assistance to farmers. Payments will be automatic for amounts of outstanding delinquencies from September 30, 2024. Checks will be made by the Treasury Department.

On October 7, more than 50,000 acres of agricultural land were affected by the fires in North Dakota. The fires have claimed one life and caused at least one critical injury. Four residences and numerous outbuildings have been reported destroyed. The main concerns in the area are topsoil and livestock recovery, according to local producers.

On October 8, exports increased throughout August, lessening the current trade deficit. Economists polled by Reuters had forecasted the trade deficit would narrow to $70.6 billion from the previously reported $78.8 billion in July. Overall, the number of imported consumer goods decreased by 8.9%. Though there are positive trade implications, increases in exports are not suspected to be sustainable.

Remember, the USDA guide to help you eat healthily is MyPlate. More information can be found below. Grain foods, both whole grain and refined, provide you with several very important nutrients such as thiamin, niacin, iron, folate, magnesium, calcium, zinc and fiber. Only about 5% of Americans are eating enough fiber. Skip the fad diets, and follow MyPlate for a balanced, science-based way to eat healthy!

Did you know that approximately 60% of the income for the NWF 2024-2025 Fiscal Year is raised from partnerships? The Foundation is able to do the National Wheat Yield Contest, Leadership Programs, Wheat 101, Farm Tours and other educational activities through the generous support from our partners. If you are selling grain, any kind, you can be a partner with NWF through our Gifts of Grain program. It is very easy to do, please find more information below.