Farm earnings are broadly expected to ease this year, although USDA's latest farm income forecast projects skyrocketing prices for key commodities will help offset a steep drop in government payments and increases in production costs.
The Biden administration’s climate policy is still a work in progress, especially when it comes to agriculture. But we have a better idea of where the Senate could be headed, and the implications could extend into the next farm bill.
The outgoing Trump administration is tapping unspent USDA funding to provide coronavirus relief to contract producers for the first time while providing supplemental payments to hog farms. USDA also is adjusting payments calculations for many producers who have already received Coronavirus Food Assistance Program payments.
Lawmakers have their focus on impeachment for now, but Democratic leaders are likely to try to pivot quickly over the next weeks as President-elect Joe Biden takes office. Climate policy as well as immigration and tax reform will be on the agenda for the Senate.
The Agriculture Department is working to get some new coronavirus relief assistance to farmers as soon as possible, but much of the work may not be completed before President-elect Joe Biden takes office in two weeks.