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By David Morgan, Andy Sullivan, Steve Holland and Nolan D. McCaskill WASHINGTON (Reuters) -The White House on Monday backed off President Donald Trump's assertion that government employees were already being laid off due to the shutdown, but warned job losses could result as the standoff looked set to stretch into a seventh day. The Republican-led Senate for a fifth time rejected dueling measures to fund federal agencies, with insufficient support for both a Republican proposal to fund operations through November 21 and a Democratic version that would also extend healthcare subsidies due to expire at the end of the year. Trump told reporters at the White House that he would be open to a deal on the subsidies, which help 24 million people buy health insurance through the Affordable Care Act – a law that Republicans bitterly opposed for years. Shoring up the expiring subsidies has been Democrats' main demand and primary reason for voting against the Republican plan. But on the sixth day of the shutdown, the Republican president and top Senate Democrat Chuck Schumer could not even agree whether the two sides were talking, with Trump saying there were negotiations ongoing and Schumer saying there weren't. The Republican-led House of Representatives was not in session, and House Speaker Mike Johnson said he had no plans to reopen it until the government was funded. The standoff has frozen about $1.7 trillion in funds for agency operations, which amounts to roughly one-quarter of annual federal spending. Much of the remainder goes to health and retirement programs and interest payments on the growing $37.88 trillion debt. BACKTRACKING ON LAYOFFS During the shutdown's first week, the Trump administration has cut off some federal funds to Democratic-led cities and states and continued to raise the specter of mass firings, though none appeared to be forthcoming. Previous shutdowns have not forced the government to fire any workers, though hundreds of thousands are typically told not to work.  Trump said on Sunday night that layoffs were taking place "right now," but White House Press Secretary Karoline Leavitt said on Monday he had been referring to those furloughed since Congress allowed funding to expire on October 1.   The White House budget office "is continuing to work with agencies on who, unfortunately, is going to have to be laid off if this shutdown continues," she said at a news briefing. Labor unions representing federal workers have sued to prevent that from happening, arguing that such layoffs would violate a law that includes criminal penalties. The administration has already frozen at least $28 billion in infrastructure funds for New York, California and Illinois — all home to sizable Democratic populations and critics of the president. But Democratic leaders showed no sign of knuckling under to the White House's hardball tactics, which have caused unease among some centrist Republicans who fear the approach could make the impasse harder to overcome. The partial shutdown, the 15th since 1981, was on track to stand alone as the fourth-longest in U.S. history on Tuesday, exceeding the six-day length of a 1995 shutdown. The longest shutdown lasted 35 days in 2018-2019, during Trump's first term in office. While border guards, airport security screeners and other "essential" employees remained on the job without pay, other government activities ground to a halt. The Federal Register, which typically lists more than 100 proposed regulations and other notices daily, only showed four entries on Monday morning.  Pressure to end the standoff could mount next week, when 1.3 million troops and other military workers are due to miss their paychecks for the first time since the shutdown began. Air travel could be another factor. More of the nation's 13,000 air traffic controllers have been calling in sick since the shutdown began, which could lead to flight delays, Transportation Secretary Sean Duffy said. Lawmakers resolved the last shutdown in 2019 after absences of controllers and airport security screeners spiked. Republicans hold a 53-47 Senate majority but need the votes of at least eight Democrats to meet the chamber's 60-vote threshold for most legislation, since Republican Senator Rand Paul opposes the stopgap funding measure. So far only two Democrats and an independent who caucuses with them have crossed the aisle. Some Democrats want a deal on healthcare subsidies in place before open enrollment for next year begins on November 1.  Johnson said a solution could not be reached quickly.  "We've got probably 100 ideas for reforms on the table, but I can't snap my fingers this afternoon and make that happen," he said on the Hugh Hewitt radio show. (Reporting by Doina Chiacu, Andy Sullivan, Jeff Mason, David Morgan and Nolan D. McCaskill; Editing by Scott Malone and Cynthia Osterman)

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By Adwitiya Srivastava (Reuters) -Australia's corporate regulator on Tuesday approved Cboe Global Markets' application to operate as a listing market in the country, enabling it to compete directly with the Australian Securities Exchange (ASX) and others. Shares of bourse operator ASX fell as much as 1.7% to A$57.850 in early trade, to hit its lowest level since mid-June 2024. Cboe Australia, the local unit of the Chicago-headquartered operator, launched in 2011 and can now list new companies, offering domestic investors increased access to investment options such as initial public offerings and dual-listed foreign entities. "This move will provide more choice for companies to list in Australia, build more links to offshore markets and create more options for investors," ASIC Chair Joe Longo said in a statement. Cboe did not immediately respond to request for comment. Heightened competition in Australian equities markets has already led to reduced trading costs and broader access to products like exchange-traded funds (ETFs), the regulator highlighted. Cboe Australia currently has 20% of Australia's equity market turnover, representing almost A$2 billion ($1.32 billion) of trades each day, ASIC said. "Cboe Australia’s new listing powers could force the ASX to sharpen its pencil when it comes to fees, so any lowering of trading costs would be a positive outcome for consumers," said Tim Waterer, chief market analyst at KCM Trade. "Albeit that this could be a gradual rather than instant process." The move comes amid ongoing regulatory scrutiny of the ASX’s ability to maintain stable and secure market infrastructure. In June, ASIC launched a broad investigation into the country's main stock exchange operator, following years of tension over a failed software upgrade and recurring trade-processing glitches. Following this approval, there are now four markets, including Cboe, licensed to list securities in Australia, ASX, National Stock Exchange of Australia (NSX) and Sydney Stock Exchange (SSX), the regulator said. ($1 = 1.5119 Australian dollars) (Reporting by Adwitiya Srivastava in Bengaluru; Editing by Shailesh Kuber and Sam Holmes)

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(Reuters) -Rio Tinto said on Tuesday it along with its joint venture partners Mitsui Iron Ore and Nippon Steel will invest $733 million to develop new iron ore deposits at the West Angelas hub in Western Australia's Pilbara region. Rio Tinto, which will contribute $389 million, said the West Angelas Sustaining project will maintain the hub's annual production capacity at 35 million tonnes, extending mining operations for several years. The construction will create about 600 jobs, while around 950 full-time roles will be sustained once the project becomes operational. Autonomous trucking of ore is set to begin in 2027. Mining major Rio added the project forms part of a suite of replacement iron ore developments across Pilbara, supporting a total capacity of around 130 million tonnes per annum. The West Angelas hub has been a critical part of Rio Tinto's operations since 2002. Beyond this project, Rio Tinto is advancing a pre-feasibility study for Rhodes Ridge, targeting an initial capacity of up to 40 million tonnes per annum and first ore by 2030. Shares of Rio Tinto rose 0.9% to A$124.72, outperforming the broader benchmark index , which edged 0.1% lower as of 2329 GMT. The miner also recently opened the $2 billion Western Range iron ore mine in partnership with China Baowu Steel Group, aimed at sustaining output from its Paraburdoo hub in the Pilbara for up to two decades. (Reporting by Roshan Thomas in Bengaluru; Editing by Shailesh Kuber)

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By Stephen Culp NEW YORK (Reuters) -The S&P 500 and the Nasdaq advanced on Monday, as artificial intelligence-related dealmaking boosted investor sentiment even as the U.S. government shutdown extended through its sixth day. The Nasdaq and the S&P 500 reached record closing highs, while the blue-chip Dow inched lower. Chips took the lead after AMD said it would supply AI chips to OpenAI in a deal that could generate tens of billions of dollars in yearly revenue and would allow the ChatGPT creator to buy a stake of up to 10% in the chipmaker. AMD surged 23.7%, while the broader Philadelphia Semiconductor Index rose 2.9%. "The market is seeing some strength in areas like technology and consumer discretionary and it's flying in the face of the government shutdown," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. "The market is still interested in the AI trade and the companies that support and use it." "It's a wave and waves don't go on forever; it will eventually crest and decline," Pavlik added. "But where are we this cycle of the wave? It's impossible to know." The federal government remained shuttered for the sixth day as lawmakers idled in a partisan impasse. The shutdown has postponed the release of key economic indicators, forcing investors to rely on secondary, non-government data to gauge the timing and extent of Federal Reserve interest rate cuts. Monetary policymakers have cautioned against rushing to lower the Federal Funds target rate as inflation remains high, while others believe signs of softness in the labor market merit rate cuts. Financial markets have priced in an all-but-certain 94.6% chance of a 25 basis point interest rate reduction at the conclusion of the Fed's October meeting. Without new U.S. government data this week, market participants are monitoring reports on outstanding consumer credit, mortgage demand and the University of Michigan's preliminary take on October consumer sentiment. The Dow Jones Industrial Average fell 63.31 points, or 0.14%, to 46,694.97, the S&P 500 gained 24.49 points, or 0.36%, to 6,740.28 and the Nasdaq Composite gained 161.16 points, or 0.71%, to 22,941.67.  Among the 11 major sectors of the S&P 500, consumer discretionary led the gainers, while real estate suffered the steepest percentage decline. Next week, third-quarter earnings will provide market catalysts as the reporting season gets underway with results from large U.S. banks. Analysts estimate aggregate year-on-year S&P 500 earnings growth of 8.8% for the July-to-September period, up 0.8 percentage points from projections at the beginning of the third quarter, according to LSEG data. Tesla advanced 5.5% after the electric carmaker teased an event scheduled for Tuesday on social media platform X over the weekend. TD Cowen cut its Starbucks price target, citing a weakening labor market affecting Generation Z, sending the coffee chain's shares down 5.0%. Bitcoin breached the $125,000 mark on Sunday, sending crypto-related firms Coinbase, Strategy, Riot Platforms and MARA Holdings all gained ground. Regional bank Comerica gained 13.7% after Fifth Third said it will buy the company in an all-stock deal valued at $10.9 billion. Verizon shares dipped 5.1% after the telecommunications company named former PayPal boss Dan Schulman as its new chief executive officer. Advancing issues outnumbered decliners by a 1.05-to-1 ratio on the NYSE. There were 665 new highs and 75 new lows on the NYSE. On the Nasdaq, 2,602 stocks rose and 2,062 fell as advancing issues outnumbered decliners by a 1.26-to-1 ratio.  The S&P 500 posted 46 new 52-week highs and nine new lows while the Nasdaq Composite recorded 187 new highs and 58 new lows. Volume on U.S. exchanges was 19.69 billion shares, compared with the 19.17 billion average for the full session over the last 20 trading days. (Reporting by Stephen Culp; Additional Reporting by Niket Nishant and Sukriti Gupta in Bengaluru; Editing by Richard Chang)

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(Refiles to clarify number of flights in paragraph 4, to more than 4,000 from more than 4,00) By Doyinsola Oladipo and David Shepardson NEWARK/WASHINGTON (Reuters) -The Federal Aviation Administration said staffing issues were causing delays at several airports including Newark and Denver on Monday, just hours after the top U.S. transportation official said air traffic controllers calling in sick had risen slightly since the government shutdown began. Some 13,000 air traffic controllers and about 50,000 Transportation Security Administration officers must still turn up for work during the shutdown. They are not being paid and controllers are set to miss their first paycheck on October 14. Transportation Secretary Sean Duffy said that at times, air traffic staffing has been cut by 50% in some areas since the shutdown started last week. The FAA said air traffic control staffing issues are impacting flights at numerous airports including Newark, Phoenix, Denver, Las Vegas and Burbank. FlightAware said more than 4,000 flights in the U.S. on Monday have been delayed, including 29% arriving flights at Denver, 19% of Newark flights and 15% of Las Vegas flights. Weather issues are also impacting flights. President Donald Trump has made transportation a focal point in a government shutdown battle with the Democrats, cutting off more than $28 billion of aid for climate programs, subways, tunnels and mass transit in Democratic-leaning states including New York and Illinois. Delays will result from the reduced staffing, Duffy said, adding that if sick calls increase, air traffic flow will be cut to a rate that maintains air safety. Duffy and the president of the National Air Traffic Controllers Association spoke at a press conference at Newark Liberty International Airport to discuss the effects of the shutdown. The airport is one of three serving the heavily Democratic-leaning New York metropolitan area and is a major United Airlines hub. Duffy noted controllers are worried. "They're thinking about, am I going to get a paycheck?," Duffy said, adding that some are asking themselves: "Do I have to take a second job and drive Uber when I'm already exhausted from doing a job that's already stressful?" The union on Monday reminded workers, "participating in a job action could result in removal from federal service" and that it is illegal. "It is more important than ever that we rise to the occasion and continue delivering the consistent, high-level of public service we provide every day," the union told members. "We cannot stress enough that it is essential to avoid any actions that could reflect poorly on you, our union, or our professions." In 2019, during a 35-day shutdown, the number of absences by controllers and Transportation Security Administration officers rose as workers missed paychecks, extending checkpoint wait times at some airports. Authorities were forced to slow air traffic in New York, which put pressure on lawmakers to quickly end the standoff. Then-House Speaker Nancy Pelosi, a Democrat, said at the time the shutdown was "pushing our airspace to the breaking point." Airline trade group Airlines for America, which represents United, Delta Air Lines, American Airlines and Southwest Airlines, warned that during a funding lapse "the system may need to slow down, reducing efficiency" and impacting travelers. A persistent shortage of controllers has delayed flights and many are working mandatory overtime and six-day weeks. The FAA is about 3,500 air traffic controllers short of targeted staffing levels.   (Reporting by David Shepardson; Editing by Bill Berkrot, Nick Zieminski, Chris Reese and Lincoln Feast.)

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SYDNEY (Reuters) -A measure of Australian consumer sentiment slid for a second straight month in October as concerns about family finances returned amid speculation interest rates might not fall any further, a survey showed on Tuesday. A Westpac-Melbourne Institute survey showed its main index of consumer sentiment dropped 3.5% to 92.1, having fallen 3.1% in September. The reading under 100 means pessimists increasingly outnumber optimists. Sentiment had been slowly picking up mid-year as the Reserve Bank of Australia cut interest rates three times and inflation looked to be cooling. However, the RBA last week skipped a chance to cut again and cautioned that inflation was running a little higher than expected, putting in doubt further policy easing. The shift in mood showed in the survey's measure of family finances compared to a year earlier which fell 4.8%, while the outlook for the next 12 months sank 9.9%. The economic outlook for the next year fell 2.5%, while that for five years nudged up 1.4%. In a potential blow to retailers, the index of whether it was a good time to buy a major household item fell 1.1% to 97.2. (Reporting by Wayne Cole; Editing by Jacqueline Wong)

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By Doyinsola Oladipo and David Shepardson NEWARK/WASHINGTON (Reuters) -The Federal Aviation Administration said staffing issues were causing delays at several airports including Newark and Denver on Monday, just hours after the top U.S. transportation official said air traffic controllers calling in sick had risen slightly since the government shutdown began. Some 13,000 air traffic controllers and about 50,000 Transportation Security Administration officers must still turn up for work during the shutdown. They are not being paid and controllers are set to miss their first paycheck on October 14. Transportation Secretary Sean Duffy said that at times, air traffic staffing has been cut by 50% in some areas since the shutdown started last week. The FAA said air traffic control staffing issues are impacting flights at numerous airports including Newark, Phoenix, Denver, Las Vegas and Burbank. FlightAware said more than 4,00 flights in the U.S. on Monday have been delayed, including 29% arriving flights at Denver, 19% of Newark flights and 15% of Las Vegas flights. Weather issues are also impacting flights. President Donald Trump has made transportation a focal point in a government shutdown battle with the Democrats, cutting off more than $28 billion of aid for climate programs, subways, tunnels and mass transit in Democratic-leaning states including New York and Illinois. Delays will result from the reduced staffing, Duffy said, adding that if sick calls increase, air traffic flow will be cut to a rate that maintains air safety. Duffy and the president of the National Air Traffic Controllers Association spoke at a press conference at Newark Liberty International Airport to discuss the effects of the shutdown. The airport is one of three serving the heavily Democratic-leaning New York metropolitan area and is a major United Airlines hub. Duffy noted controllers are worried. "They're thinking about, am I going to get a paycheck?," Duffy said, adding that some are asking themselves: "Do I have to take a second job and drive Uber when I'm already exhausted from doing a job that's already stressful?" The union on Monday reminded workers, "participating in a job action could result in removal from federal service" and that it is illegal. "It is more important than ever that we rise to the occasion and continue delivering the consistent, high-level of public service we provide every day," the union told members. "We cannot stress enough that it is essential to avoid any actions that could reflect poorly on you, our union, or our professions." In 2019, during a 35-day shutdown, the number of absences by controllers and Transportation Security Administration officers rose as workers missed paychecks, extending checkpoint wait times at some airports. Authorities were forced to slow air traffic in New York, which put pressure on lawmakers to quickly end the standoff. Then-House Speaker Nancy Pelosi, a Democrat, said at the time the shutdown was "pushing our airspace to the breaking point." Airline trade group Airlines for America, which represents United, Delta Air Lines, American Airlines and Southwest Airlines, warned that during a funding lapse "the system may need to slow down, reducing efficiency" and impacting travelers. A persistent shortage of controllers has delayed flights and many are working mandatory overtime and six-day weeks. The FAA is about 3,500 air traffic controllers short of targeted staffing levels.   (Reporting by David Shepardson; Editing by Bill Berkrot, Nick Zieminski, Chris Reese and Lincoln Feast.)

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By Leah Douglas and Bo Erickson WASHINGTON (Reuters) -The Trump administration is expected to announce a plan as soon as Tuesday to bail out U.S. farmers stung by trade disputes and big harvests, with the initial outlay potentially totaling up to $15 billion, according to sources familiar with the matter. The plan, however, could be difficult to roll out as an ongoing government shutdown prevents the kind of Congressional action needed to approve such a large payout, and existing government reserves fall short, the sources said. Farmers generally support President Donald Trump but have pressed his administration for trade deals as China continues to spurn U.S. soybean purchases amid tit-for-tat tariffs, and a record corn harvest threatens to sink farmer profits. Republican lawmakers have warned farmers face "financial calamity" if they do not receive aid by the end of the year. Treasury Secretary Scott Bessent said last week that the White House would announce aid for farmers on Tuesday. Three sources told Reuters they expected the administration to announce the package this week. One of those sources said the bailout would total somewhere between $10 billion and $15 billion, and would be a necessary bridge to get farmers through the harvest months and could be followed by additional aid. The funds would go to soybean farmers affected by the China trade spat, as well as other types of commodity farmers, though the exact details were not yet determined, that source said. A U.S. Department of Agriculture spokesperson said farmers are benefiting from lower taxes, trade deals and updates to farm programs included in Trump's July tax-cut and spending bill.  "President Trump has made it clear he will not leave farmers behind, so USDA will continue to assess the farm economy and explore the need for further assistance, however, there is nothing new to share at this time," the spokesperson said. National Economic Council Director Kevin Hassett on Monday said the White House had held several meetings on farmer aid in the past two weeks. "We're taking big measures and those big measures are going to be public really, really soon," he said on CNBC.  SHUTDOWN COMPLICATES AID PLAN     Trump has said repeatedly that the administration will use tariff income to pay for farmer aid. But such direct payments to farmers are statutorily capped at $350 million, a fraction of the sum being discussed, and can only be adjusted by Congress.  That adjustment is difficult to achieve while the federal government is shut down, two of the sources said. Another option is to draw down funds from the Commodity Credit Corporation, a financing mechanism at the USDA that is typically refilled each year in autumn, but has not been refilled because of the shutdown, said Jonathan Coppess, associate professor at the University of Illinois Urbana-Champaign. During Trump's first term, he used the CCC to pay farmers more than $23 billion in trade aid, about a $3 billion overpayment, according to the Government Accountability Office. The remaining funds currently in the CCC are likely insufficient to pay for the package being discussed, Coppess said.  Farmers are already set to receive near-record government payments of more than $40 billion this year, fueled by disaster and economic aid passed by Congress last year. (Reporting by Leah Douglas and Bo Erickson in Washington; Editing by Bill Berkrot)

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By Ann Saphir (Reuters) -Kansas City Federal Reserve Bank President Jeff Schmid on Monday signaled he is disinclined to cut interest rates further, arguing that as the Fed navigates between the twin risks of overly tight and overly easy policy, it should stay focused on the danger of too-high inflation.  Schmid voted for the Fed's September quarter-percentage-point interest-rate reduction, calling it appropriate risk management given the cooling in the labor market. But his hesitation about easing policy further shows the difficulty Fed Chair Jerome Powell faces in building a consensus for the Fed's next rate-setting decision later this month. At least a couple of other Fed policymakers have voiced concern that further rate cuts could reignite inflation, including Dallas Fed's Lorie Logan and Cleveland Fed's Beth Hammack. Meanwhile, the Fed's newest governor, Stephen Miran, dissented last month and has made half a dozen public appearances since then calling for sharply lowering rates over the next couple of meetings. Though Miran is alone in that view, several other Fed policymakers, including Vice Chair for Supervision Michelle Bowman and San Francisco Fed President Mary Daly, do support some further rate cuts to head off more weakening in the labor market. Recent data has shown monthly job gains have plummeted. In a nod to those concerns, Schmid told the CFA Society Kansas City that he believes businesses are delaying hiring while they deal with the uncertainties of President Donald Trump's tariff policies and try to work through the implications of artificial intelligence for their future labor needs.  Still, he said, a wide range of indicators – including an unemployment rate of 4.3% – suggest the job market overall remains healthy. Meanwhile, inflation remains too high, he said, with services inflation looking to have settled in at around 3.5% in recent months, well above the Fed's 2% target for inflation.  "One worrying sign is that price increases are also becoming more widespread," Schmid told the CFA Society Kansas City, noting that by August almost 80% of categories tracked in official inflation statistics had increasing prices, up from 70% at the start of the year. "Overall, I am anticipating a relatively muted effect of tariffs on inflation, but I view that as a sign that policy is appropriately calibrated rather than a sign that the policy rate should be aggressively lowered." Schmid noted that Fed policymakers face tradeoffs – if they cut rates to boost the labor market, there is a risk of higher inflation, but if they set rates high enough to lower inflation, that could push up unemployment. It is a balancing act that Fed Chair Powell has also noted. "Constraints lead to difficult decisions over how to balance competing objectives, and the Fed has been tasked with these difficult decisions when it comes to inflation and employment," Schmid said on Monday. "In balancing this constraint, my view is that the Fed must maintain its credibility on inflation," he said, using bold font in his prepared remarks to emphasize the word "must."   The economy has momentum, Schmid said, and AI-related software spending has bolstered business investment, which usually weakens when interest rates are high. Equity markets are near records, and corporate bond spreads are narrow, he noted.  "Overall, given the state of the economy and financial markets, I view the current stance of policy as only slightly restrictive, which I think is the right place to be," Schmid said.  Financial markets are currently pricing in a high likelihood of another quarter-point interest-rate cut at the Fed's next two meetings, in October and December.  (Reporting by Ann Saphir in Berkeley, California; Editing by Matthew Lewis)

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By Leah Douglas and Bo Erickson WASHINGTON (Reuters) -The Trump administration is expected to announce a plan as soon as Tuesday to bail out U.S. farmers stung by trade disputes and big harvests, with the initial outlay potentially totaling up to $15 billion, according to sources familiar with the matter. The plan, however, could be difficult to roll out as an ongoing government shutdown prevents the kind of Congressional action needed to approve such a large payout, and existing government reserves fall short, the sources said. Farmers generally support President Donald Trump but have pressed his administration for trade deals as China continues to spurn U.S. soybean purchases amid tit-for-tat tariffs, and a record corn harvest threatens to sink farmer profits. Republican lawmakers have warned farmers face "financial calamity" if they do not receive aid by the end of the year. Treasury Secretary Scott Bessent said last week that the White House would announce aid for farmers on Tuesday. Three sources told Reuters they expected the administration to announce the package this week. One of those sources said the bailout would total somewhere between $10 billion and $15 billion, and would be a necessary bridge to get farmers through the harvest months and could be followed by additional aid. The funds would go to soybean farmers affected by the China trade spat, as well as other types of commodity farmers, though the exact details were not yet determined, that source said. A U.S. Department of Agriculture spokesperson said farmers are benefiting from lower taxes, trade deals and updates to farm programs included in Trump's July tax-cut and spending bill.  "President Trump has made it clear he will not leave farmers behind, so USDA will continue to assess the farm economy and explore the need for further assistance, however, there is nothing new to share at this time," the spokesperson said. National Economic Council Director Kevin Hassett on Monday said the White House had held several meetings on farmer aid in the past two weeks. "We're taking big measures and those big measures are going to be public really, really soon," he said on CNBC.  SHUTDOWN COMPLICATES AID PLAN     Trump has said repeatedly that the administration will use tariff income to pay for farmer aid. But such direct payments to farmers are statutorily capped at $350 million, a fraction of the sum being discussed, and can only be adjusted by Congress.  That adjustment is difficult to achieve while the federal government is shut down, two of the sources said. Another option is to draw down funds from the Commodity Credit Corporation, a financing mechanism at the USDA that is typically refilled each year in autumn, but has not been refilled because of the shutdown, said Jonathan Coppess, associate professor at the University of Illinois Urbana-Champaign. During Trump's first term, he used the CCC to pay farmers more than $23 billion in trade aid, about a $3 billion overpayment, according to the Government Accountability Office. The remaining funds currently in the CCC are likely insufficient to pay for the package being discussed, Coppess said.  Farmers are already set to receive near-record government payments of more than $40 billion this year, fueled by disaster and economic aid passed by Congress last year. (Reporting by Leah Douglas and Bo Erickson in Washington; Editing by Bill Berkrot)

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