FarmPolicy

October 15, 2018

Chairwoman Stabenow Maintains Edge in Senate Race, Highlights Farm Bill

Categories: Farm Bill

The Detroit News reported on Thursday that, “Democratic U.S. Sen. Debbie Stabenow [Chairwoman of the Senate Ag Comm.] still holds a big lead over former U.S. Rep. Pete Hoekstra going into the final weeks of an otherwise lackluster campaign, a Detroit News /WDIV Local 4 poll shows.

Stabenow leads Hoekstra 50.1 percent to 37.5 percent, a 12.6 point lead. That is closer than Stabenow’s lead of 15.9 points last month, but higher than the 7.2-point margin in August when Hoekstra won the GOP nomination” [related graph from article].

The article noted that, “The two candidates have yet to square off in a televised debate, [related article] and Hoekstra has struggled to overcome a fund-raising deficit, which has kept him raising money instead of campaigning while Stabenow has been able to run TV ads.”

Meanwhile, on October 5, the Stabenow campaign released a video titled, “Our Farm Jobs Tour!

A descriptive caption of the video, which is available below, noted that, “Agriculture is critical to Michigan’s economy: it is the state’s second largest industry, contributing more than $71 billion to the Michigan economy and accounting for nearly one out of every four Michigan jobs.

“As Chairwoman of the Senate Agriculture Committee, Senator Stabenow’s 2012 Farm Bill, which passed the United States Senate with strong bipartisan support, has been called the most significant reform in American agriculture policy in decades.”

 

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Bloomberg Video: U.S. Food Prices, Global Production

From Bloomberg News, October 11, “Wayne Gordon, a strategist at UBS AG, talks about the outlook for U.S. food prices, the Department of Agriculture’s crop survey and prospects for global food production. Gordon speaks with Mark Crumpton on Bloomberg Television’s ‘Bottom Line.’ (Source: Bloomberg)”

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Ag Economy; Biofuels; and Farm Bill- Policy Issues

Agricultural Economy

Emiko Terazono and Jack Farchy reported yesterday at The Financial Times Online that, “Corn prices jumped sharply on Thursday after official US forecasts for this year’s harvest were cut, reviving fears over the supply of basic foods following one of the worst droughts in half a century.

“Grains and oilseed prices rallied strongly, with CBOT December corn futures gaining as much as 5 per cent to a high of $7.74¼ a bushel. Wheat and soyabeans also rose after the US Department of Agriculture’s closely watched monthly report.

“The USDA lowered its forecast for the corn harvest in the US, the world’s largest exporter, to 10.71bn bushels, down from last month’s forecast of 10.73bn bushels and 13 per cent lower than last year.”

(A recap of yesterday’s USDA reports, including graphs and charts, has been posted at FarmPolicy.com).

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