Senate Invokes Cloture on CR Bill; Will Attempt to Vote Monday to Send Amended Version Back to House 

Fy 2026 Ag spending bill part of CR package, including CCC reimbursement, extension of expired 2018 Farm Bill provisions, and partial extension for Grain Standards Act 

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Link: Senate Unveils New Stopgap Funding Bill to Reopen Gov’t Through Jan. 30
         Extends Authorizations Under Five-year Farm Bill
Link: Jalisco Reports First Screwworm Case as Mexico Reaches 757 Active Outbreaks
Link: Senate Deal Would Restore Federal Jobs Lost in Shutdown;
         CCC Funds Replenished
Link: Week Ahead, Nov. 9, 2025: USDA Crop Production, WASDE Reports Out Nov. 14
Link: Trying to Clear the Foggy Air in DC: The Country’s Woes Are Building
Link: Audio: Wiesemeyer’s Perspectives, Nov 7
Link: Video: Wiesemeyer’s Perspectives, Nov. 7

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Today’s Updates:

SENATE
— Senate invokes cloture on CR measure through Jan. 30
 

AIR TRAVEL
— Air travel chaos deepens amid signals of reopening gov’t
 

FINANCIAL MARKETS
— Equities Friday and weekly change
— Several financial speakers on Wednesday
 

GLOBAL ECONOMY
— Global economic outlook: cautious optimism
 

AG MARKETS
— Agriculture markets Friday and weekly change
 

ENERGY MARKETS & POLICY
— Friday: Oil prices rebound after reports of Hungarian exemption talks
 

WEATHER
— NWS outlook: Frigid airmass brings sharply colder weather across the eastern U.S.

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Updates: Policy/News/Markets, Nov. 10, 2025

Up Front— Senate invokes cloture on CR measure through Jan. 30 Senate voted 60–40 to advance a bipartisan stopgap spending bill that would reopen the government through Jan. 30, with several Democrats joining Republicans. The package includes three full-year appropriations bills — Agriculture-FDA, Legislative Branch, and MilCon-VA — and replenishes USDA’s Commodity Credit Corporation. It also restores pay for furloughed workers, blocks further layoffs, and extends key ag and public programs through 2026. Final passage could come Monday if all senators agree to expedite voting.— Air travel chaos deepens amid signals of reopening gov’t Nationwide flight cancellations topped 2,000 Sunday as FAA staffing shortages worsened during the 40-day shutdown. Delta cut 15% of flights, while Transportation Secretary Sean Duffy warned travel could “slow to a trickle” before Thanksgiving. The FAA has ordered flight reductions through Nov. 12 as unpaid controllers retire at accelerated rates, compounding delays across major hubs.— Global economic outlook: cautious optimism China’s weak October data, steady Eurozone growth, and muted U.S. releases set a tone of “wait and see” for markets. Economists are watching the Supreme Court’s ruling on Trump’s tariff program for global trade implications. Inflation and retail sales data due this week are expected to show modest U.S. growth and stable prices.— Friday oil prices rebound Crude markets recovered slightly on reports Hungary may gain limited exemption from U.S. sanctions on Russian oil. Brent settled at $63.63 and WTI $59.75 per barrel, though both ended the week 2% lower amid rising supply and FAA-linked demand concerns. OPEC+ plans one last 137,000 bpd hike in December before pausing increases.— Agriculture markets Friday and weekly change Corn and wheat extended losses while soybeans edged higher. December corn closed at $4.27¼ (▼4¼¢ on week); January soybeans $11.17 (▲1¾¢); SRW wheat $5.27¾ (▼6¼¢). Cattle futures rebounded Friday but posted steep weekly declines, reflecting processing delays and weaker cash trade.— Financial markets Stocks finished mixed Friday and lower on the week: Dow -1.21%, S&P 500 -3.03%, Nasdaq -3.04%. Fed Governor Chris Waller, NEC Director Kevin Hassett, and Stephen Miran speak Wednesday as markets look for policy signals on rates and growth.— Weather Arctic air spreads eastward early week, bringing record lows to the Southeast—including Florida by Tuesday—and heavy snow and winds from the Great Lakes to New England. Critical fire danger persists across southern Texas tonight. Top Stories  —Senate invokes cloture on CR measure through Jan. 30Senate will vote on the measure Monday  The final tally on the procedural vote was 60-40. Seven Democrats and one Independent voted “yes” with Republicans, while Sen. Rand Paul (R-Ky.) was the lone GOP “no” vote. Sixty votes were required to advance the measure. Democratic Sens. Jeanne Shaheen (N.H.), Angus King (I-Maine), Maggie Hassan (N.H.), Tim Kaine (Va.), John Fetterman (Pa.), Catherine Cortez Masto (Nev.), Dick Durbin (Ill.) and Jacky Rosen (Nev.) joined Republicans in backing the procedural vote. Voting was held open on the Senate floor for more than two hours to allow for the arrival of the final “aye” vote, cast by Sen. John Cornyn (R-Tex.), who flew to Washington, D.C. on Sunday evening for the proceeding. Senators broke into applause when Cornyn walked in to vote for the measure, just before 10:50 p.m. ET. Sen. Angus King, a Maine independent who caucuses with Democrats and was one of the lead negotiators of the deal, said that the length of the shutdown and the pain it was inflicting on Americans had changed the calculus for some of his colleagues, pushing them to support a deal with Republicans that would reopen the government without the extension of Affordable Care Act subsidies they had originally sought. Additional votes are needed before the package can be sent to the House where it also will need to pass before the government can reopen. It is not yet clear if Senate Democrats and Paul will allow the remaining voting process to be expedited or if they will force the multi-day process to play out in full. All 100 senators would need to agree to speed up the rest of the process. The measure would reopen federal agencies after a record-setting gov’t shutdown that has lasted nearly six weeks, leading to disruptions in air travel, food assistance, and other federal services. Democratic leaders in the Senate (Schumer) and House (Jeffries) said they would vote against the measure due to a lack of extending ObamaCare provisions. Under a deal struck with a group of Democrats, Republicans would agree to a vote in early to mid-December on extending subsidies under the Affordable Care Act (ObamaCare). The subsidies have been a Democratic priority during the funding battle. Democrats will get to determine what extension bill receives that vote. The the bipartisan deal would reopen the government and fund most agencies through Jan. 30 —the measure would generally extend the conditions on stopgap funding from the fiscal 2025 spending law. The package includes three regular full-year spending bills — Agriculture-FDA, Legislative Branch, and Military Construction-Veterans Affairs — and the CR will provide stopgap funding for the remaining departments and agencies. The CR would give lawmakers additional time to finish work on the remaining nine full-year spending bills. It contains something that many Democrats were pressing for: a provision that would call federal workers who were laid off during the shutdown back to their jobs. It also would provide funds to ensure that federal workers who were furloughed during the shutdown can receive retroactive pay. The short-term spending bill would additionally bar the Office of Management and Budget from implementing any additional mass layoffs of federal workers through Jan. 30. For agriculture, the package includes the Fiscal Year 2026 Agriculture appropriations bill (link). In brief: the measure would provide $26.7 billion in net discretionary funding for the Agriculture Department, the Food and Drug Administration, and related agencies. It would provide a total of $203.4 billion when including mandatory spending for USDA commodity support, crop insurance, and nutrition assistance programs. The total would include $107.5 billion in mandatory funding for the Supplemental Nutrition Assistance Program and $8.2 billion in discretionary funds for the Special Supplemental Program for Women, Infants, and Children (WIC). Of note, the agreement includes a replenishment of funding for USDA’s Commodity Credit Corporation (CCC) — the agreement provides $13.954 billion (rounded) for reimbursement for net realized losses of the CCC. The package would extend the Grain Standards Act until Jan. 30, authorizing USDA to carry out official inspection and weighing services. The bill would also reauthorize several other authorities that expired at the end of September — or are set to expire before the end of the year — including agricultural support programs authorized by the 2018 Farm Bill (the last extension expired on Sept. 30) until Sept. 30, 2026, or the date in effect under other recent laws, whichever is later. Other extensions include, public health programs, and the Homeland Security Department’s counter-drone authorities. It also would extend programs such as the Temporary Assistance for Needy Families program and National Flood Insurance Program that were tied to previous funding measures. Any deal would still need approval in the House of Representatives, which has been out of session since Sept. 19. House Speaker Mike Johnson (R-La.) has informed members that he would give them 48 hours to return in the event the Senate passed a spending bill. A handful of centrist House Democrats are expected to support the deal. —Air travel chaos deepens amid signals of reopening gov’t Thousands of flights canceled or delayed as FAA staffing shortages ripple through major U.S. airports; Duffy warns travel could “slow to a trickle” ahead of Thanksgiving Air travel across the United States plunged into turmoil over the weekend as the record-long federal government shutdown reached its 40th day on Sunday. More than 2,293 flights were canceled by Sunday afternoon, with severe disruptions reported at Newark, LaGuardia, Chicago O’Hare, Atlanta Hartsfield-Jackson, and other major hubs, according to FlightAware. Delta Air Lines scrapped 521 flights — 15% of its daily schedule — while Southwest Airlines canceled 162 and delayed nearly 1,700 flights, representing 39% of its operations. Transportation Secretary Sean Duffy warned that the situation is likely to deteriorate further: “You’re going to have air travel slow to a trickle,” he said on Fox News Sunday, citing mass absences among unpaid air traffic controllers and TSA officers. Airlines are scrambling to comply with new FAA-mandated flight reductions, extending cancellations and schedule adjustments through Nov. 11–12. Delta said it has reduced flights at 40 airports, while Southwest, American, and United Airlines have all issued travel waivers allowing passengers to rebook or seek refunds at no cost. By Sunday evening, more than 8,100 flights were delayed, bringing the weekend’s total to over 4,800 cancellations and 22,600 delays. FAA reports show widespread disruptions across the East Coast, Midwest, and Florida, compounded by adverse weather requiring de-icing at northern airports. Duffy told CNN’s State of the Union that 15 to 20 air traffic controllers are retiring daily, up sharply from pre-shutdown levels. He said Defense Secretary Pete Hegseth had offered to deploy military reservists trained as controllers, though their certification for civilian airspace remains uncertain. Meanwhile, Sen. James Lankford (R-Okla.) urged Congress to end the shutdown by Thanksgiving, warning that the combination of unpaid federal staff and holiday-level travel could bring the aviation system “to a standstill.” On Sunday there were initial signs of progress in the Senate that a spending deal was making progress.

FINANCIAL MARKETS

—Equities Friday and weekly change: 

Equity Index	Closing Price  Nov. 7	Point Difference  from Nov. 6	% Difference  from Nov. 6	% WeeklyChange
Dow	46,987.10	+74.80	+0.16%	-1.21%
Nasdaq	23,004.54	-49.46	-0.21%	-3.04%
S&P 500	6,728.80	+8.48	+0.13%	-3.03%

—Several financial speakers on Wednesday. Fed Gov. Chris Waller on Wednesday discusses payments in Philadelphia while National Economic Council Director Kevin Hassett speaks to the Economic Club of Washington. Fed Gov. Stephen Miran does a. fireside chat at the University of Cambridge. Meanwhile, Brookings has an afternoon event on building inclusive economies.

—Global economic outlook: cautious optimism 

Markets brace for China’s weak data; lingering wait on SCOTUS and Trump tariffs 

The week ahead in global economics blends muted optimism with deep uncertainty.

In Asia, China’s October indicators are likely to show continued softness in manufacturing and exports, with consumer prices expected to fall 0.2% year-over-year and producer prices down 2.3%. India’s inflation is forecast to ease to 0.44%, supported by good harvests, while Australia’s labor market remains stable at 4.4% unemployment. Regional policymakers appear in no hurry to adjust their stances as they monitor global risks.

In Europe, the spotlight turns to Washington, where the U.S. Supreme Court’s review of President Trump’s tariff program could redefine global trade dynamics, especially for Europe and Canada. Meanwhile, economic signals remain modest: Germany’s inflation steady at 2.3%, Italy’s industrial output inching higher, and Eurozone GDP holding at 0.2% growth. Businesses across the continent are delaying trade and production decisions pending clarity from the U.S. court ruling.

In the United States, data releases will be light due to the Veterans Day holiday. Key reports include the NFIB small business optimism index, October inflation, and retail sales. Forecasts call for inflation at 3.1% year-over-year, producer prices up 0.3%, and retail sales gaining 0.2%. With steady but unspectacular growth, the economic tone remains one of patience — markets, companies, and policymakers are waiting for clues from both the Supreme Court regarding Trump’s tariffs and the data tape before taking major policy or investment steps.

AG MARKETS

—Agriculture markets Friday and weekly change:

Commodity	Contract Month	Closing Price Nov. 7	Change from Nov. 6	Weekly Change
Corn	December	$4.27¼	▼1½¢	▼4¼¢
Soybeans	January	$11.17	▲9½¢	▲1¾¢
Soybean Meal	December	$317.10	▲$4.40	▼$4.50
Bean Oil	December	49.68¢	▲33 pts	▲100 pts
SRW Wheat	December	$5.27¾	▼7¾¢	▼6¼¢
HRW Wheat	December	$5.19¼	▼3¢	▼5¼¢
Spring Wheat	December	$5.58	▲1¢	▲5¢
Cotton	December	63.62¢	▼92 pts	▼192 pts
Live Cattle	December	$221.35	▲$2.575	▼$8.325
Feeder Cattle	January	$319.575	▲$3.975	▼$12.35
Lean Hogs	December	$79.40	▲42½¢	▼$1.325

ENERGY MARKETS & POLICY

—Friday: Oil prices rebound after reports of Hungarian exemption talks

Speculation over U.S. sanctions relief for Hungary offsets demand worries from FAA flight cuts

Oil prices recovered on Friday after early losses, buoyed by reports that Hungary may continue using Russian crude following a White House meeting between President Donald Trump and Hungarian Prime Minister Viktor Orban. Brent crude settled up 25 cents, 0.39%, at $63.63 per barrel, while WTI gained 32 cents, 0.54%, to $59.75. Both benchmarks still ended the week about 2% lower as global producers raised output.

Traders cited speculation that Hungary could receive an exemption from U.S. sanctions on Russian energy companies, which helped ease tensions within the European Union. Earlier in the day, prices had fallen after the FAA ordered flight reductions amid air traffic controller shortages tied to the ongoing government shutdown, dampening jet fuel and diesel demand.

Market direction remained driven by supply dynamics. U.S. crude inventories climbed by 5.2 million barrels last week, according to the Energy Information Administration, while gasoline and distillate stocks fell. OPEC+ reaffirmed plans to increase production by 137,000 barrels per day in December but said it will pause further hikes in early 2026 due to oversupply concerns.

Saudi Arabia’s price cuts for Asian buyers reflected the well-supplied market, even as sanctions on Russia and Iran continued to constrain shipments to China and India. China’s crude imports rose 2.3% in October from September and 8.2% year-over-year, signaling robust refinery activity. Meanwhile, Swiss trader Gunvor withdrew its bid for Lukoil’s foreign assets after U.S. officials opposed the deal — a sign Washington will maintain strict sanctions enforcement.

WEATHER

— NWS outlook: Frigid airmass brings sharply colder weather across the eastern two-thirds of the country and record low temperatures through the Southeast including all of Florida by Tuesday morning… …Snowy, very cold and windy from the Great Lakes to interior New England and west slopes of central Appalachians… …Critical fire weather across southern Texas into tonight