The Senate on Tuesday approved an $867 billion farm and agricultural bill. In a 87-to-13 vote, the Senate approved the legislation, which was unveiled on Monday, after several months of closed-door negotiations. On Wednesday, the House easily passed the farm bill by a vote of 369 to 47, sending the bill to President Trump to sign.
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China on Wednesday made its first major purchases of U.S. soybeans since President Trump and President Xi Jinping struck a trade war truce earlier this month at the recent G20 Summit, according to a report from Reuters. The purchase provides some relief to U.S. farmers who have struggled to find buyers for their record-large soybean harvest.
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A possible partial government shutdown is looming with President Trump and congressional Democrats locked in a dispute over border security and no resolution in sight. Funding expires for a number of key government agencies on December 21 at midnight. There is still time to avert a shutdown, but the two sides have been unable to reach an agreement to keep the government open.
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Tyson Foods has successfully completed the acquisition of Keystone Foods from Marfrig Global Foods. The purchase of Keystone, a leading supplier of chicken, beef, fish, and pork to the growing global foodservice industry, aligns with Tyson Foods’ domestic and international growth strategy, Tyson said in a recent press release.
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The 2018 forecast for total poultry and red meat production was raised from last month as higher poultry and beef production forecasts more than offset lower pork production. USDA’s World Agricultural Supply and Demand Estimates report can be viewed here.
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