May 21, 2018

Climate Legislation; Doha Update; Drought; Farm Bill; and CFTC Issues

Climate Legislation (China, Trade Issues)

Chris Clayton indicated yesterday at the DTN Ag Policy Blog that, “Last week, USDA made a semi-valiant effort to make an economic case that the House-passed cap and trade approach to controlling greenhouse gasses would be good for agriculture. It presented to the Senate Ag Committee an initial analysis that concluded the bill would raise ag production costs only modestly, especially in the near term, and that it would offer producers a number of new ways to create and sell ‘carbon offsets’ that would boost their incomes. Agency officials across the administration joined in the cheerleading effort — and promptly ran into a buzz saw of questions from both sides of the political aisle.”