China’s commitments to dramatically increase its purchases of U.S. commodities have raised new questions for farmers as they face decisions about which farm bill program to enroll in and pencil out their finances and risk management for the year.
Agriculture Secretary Sonny Perdue is promising farmers that his department will play a key role in enforcing China's pledges to purchase $80 billion in U.S. agricultural commodities over the next two years.
In 2019, the attention of farm country was keenly focused on international trade developments, and the Trump administration’s efforts to lessen their blow on producers, according to an analysis of Agri-Pulse's website traffic throughout the year.
There’s no immediate relief in sight for American farmers, as corn stocks remain large and increased demand for U.S. crops remains elusive, ag economist Dan Basse of AgResource told attendees of the American Seed Trade Association conference in Chicago Tuesday.
The Trump administration’s trade assistance payments have become so critical to farm profits that some growers could take a hit to their income if the program is discontinued in 2020 because of a trade deal with China.
Net farm income is projected to rise more than 10% this year, but nearly one-third of producer earnings will come from a combination of crop insurance benefits and direct government payments, including the Trump administration's trade assistance.