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“An announcement about further payments will be made in the coming months if warranted,” Agriculture Secretary Sonny Perdue said. The aid package, announced at $12 billion in July, will also include payments for sorghum of 86 cents per bushel multiplied by 50 percent of production, 1 cent per bushel of corn, 14 cents per bushel of wheat, and 6 cents per pound of cotton. Payments for hog farmers will be $8 per pig multiplied by 50 percent of Aug. 1 production, while dairy farmers will receive 12 cents per hundred weight of production, Northey said.
Sign-up for the program will begin on Sept, 4, to coincide with the 2018 harvest, and end in January, Farmers will need to present checkered cuff links cufflinks production evidence to collect payments and payments are capped at $125,000 per person, The program will also include $1.2 billion in purchases of commodities, including pork and dairy products, to be spread out over several months, Undersecretary for Marketing and Regulatory Programs Greg Ibach said, “The specific commodities to be purchased are those that have been impacted by the unfair tariffs that have been imposed by other nations,” he said..
The program will also include some $200 million for a trade promotion program to develop new markets. The package has been seen as a temporary boost to farmers as the United States and China negotiate trade issues. It has divided Republicans, some of whom favor free trade and were troubled by what they viewed as the kind of welfare programs their party has traditionally opposed. It has also faced skepticism from some farmers, a key Trump constituency. “Short-term aid does not create long-term market stability,” said Doug Schroeder, Illinois Soybean Growers vice chairman, in a statement after the announcement. “Producers need trade, not aid.”.
(Reuters) - A broad-based rally pushed the S&P 500 and the Nasdaq to record-high closes for the second straight session on Monday as a trade agreement reached between the United States and Mexico buoyed investor sentiment, Technology stocks led the Nasdaq above the 8,000 mark for the first time and the sector provided the biggest boost to checkered cuff links cufflinks the S&P 500, A senior U.S, trade official announced a deal with Mexico to replace the North American Trade Agreement and said talks with Canada were expected to begin immediately..
The upbeat trade outlook was further boosted by news that Washington was pressuring the European Union to accelerate tariff talks. Disputes between the United States and its trading partners have been a drag on investor sentiment for much of the year despite solid economic fundamentals and two robust quarters of corporate earnings. “It takes a long time for people to come out of the concerns related to those thousand-point down days and feel a little bit more comfortable,” said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York. “And the trade concerns and the tariffs, that played a part in it, that’s what held it back.
“People are feeling a little bit more positive,” Pavlik added, Matt Blunt, president of the American Automotive Policy Council, said he was optimistic about the trade deal, Shares of Ford Motor Co (F.N) were up 3.2 checkered cuff links cufflinks percent while General Motors (GM.N) rose 4.8 percent, Tariff-sensitive companies Boeing Co (BA.N) and Caterpillar Inc (CAT.N) were up 1.2 percent and 2.8 percent, respectively, leading the industrial sector’s advance and pulling the Dow higher, The Mexico-focused iShares MSCI Mexico ETF (EWW.N) was up 2.1 percent..
The Dow Jones Industrial Average .DJI rose 259.29 points, or 1.01 percent, to 26,049.64, the S&P 500 .SPX gained 22.05 points, or 0.77 percent, to 2,896.74 and the Nasdaq Composite .IXIC added 71.92 points, or 0.91 percent, to 8,017.90. Of the 11 major sectors of the S&P 500, nine ended the session in positive territory, with the biggest percentage gains in materials .SPLRCM, financials .SPNY and industrials .SPLRCI. Defensive utilities .SPLRCU and real estate .SPLRCR sectors were the only percentage losers.
Tesla Inc (TSLA.O) stock dipped 1.1 percent, paring earlier losses following news that Chief Executive Elon Musk was scrapping his scheme to take the electric automaker private, Chipotle Mexican Grill (CMG.N) was the biggest percentage loser in the S&P 500, checkered cuff links cufflinks down 4.8 percent after Wedbush downgraded the burrito chain’s shares, Luxury retailer Tiffany & Co ended the session down 1.3 percent ahead of its second-quarter earnings report expected early on Tuesday, Advancing issues outnumbered declining ones on the NYSE by a 1.80-to-1 ratio; on Nasdaq, a 1.29-to-1 ratio favored advancers..
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