There is no shortage of adages about the consequences of ignoring a serious problem.  They all agree that a serious problem doesn’t just go away but gets worse, and delays in addressing the issue only make the solution all the harder to come by.  

Fresh off the 2024 election, there are certainly political lessons that might be learned about the importance of rural America.  

Yet, some pols continue to ignore the needs of rural America altogether, while others simply take core constituents for granted.  

Both are seriously mistaken.  

But putting aside the political repercussions for any tin-eared pols and focusing solely on substance, one message from the American electorate is clear:  mind the store.

Thankfully, there are congressional leaders in the House and Senate on both sides of the political aisle who are reminding lawmakers of the need to mind the store right this moment as it relates to the U.S. agriculture economy.    

They rightly warn that our agricultural economy is steadily eroding in a way that could quickly become dangerous.  

According to USDA’s latest report, farm families producing crops grown across the country are facing a staggering economic loss per acre in 2024, ranging from $97 to $373.

In all but five states, the loss per acre for farm families exceeds $100.

In aggregate, this year’s net farm income losses include $11.59 billion for corn farmers, $5.79 billion for soybean farmers, $5.06 billion for wheat farmers, $4.17 billion for cotton farmers, $1.49 billion for sorghum farmers, and $407 million each for producers of rice and peanuts.  And the list goes on.    

What’s more, warning signs indicate that 2025 will be no better due to depressed prices, high costs of production, and the predatory trade practices of countries, such as China and Brazil.

Related Articles

With net cash farm income already down by a third from just two years ago, the U.S. opening up a record agricultural trade deficit of $45.5 billion, costs of production far outpacing commodity prices, and farm sector debt reaching an all-time high, highly respected agricultural economists have been warning Washington of the looming crisis.  Just last week, Joe Outlaw of the Agricultural and Food Policy Center at Texas A&M University expounded on this topic and declared, “It’s time to hit the panic button.”  

The last time the farm safety net under the farm bill was updated was in 2014, based on 2012 costs of production data – that’s data from 13 years ago.  But with the farm bill reauthorization stalled for the second year in a row, all the pressure is now on Congress to act by providing absolutely critical relief to America’s farm families in end-of-the-year must-pass legislation.     

Although the secretary of agriculture has billions of dollars at his disposal to head off the crisis hurting U.S. farm and ranch families, the Secretary has deployed these resources that are meant to help farm and ranch families toward other things.      

Meanwhile, some pols on both sides of the political aisle feed their fancies on ideologically driven ideas for food and agriculture in this country rather than on common-sense goals the lion’s share of Americans expect of keeping food safe, affordable, and abundant, something our farm and ranch families have achieved in a manner that is unrivaled in world history.

Just three years ago, America was a mere two weeks away from a protein shortage crisis due to the pandemic and a myriad of resulting supply chain issues.  This shortage would certainly have materialized but for the heroic efforts of our nation’s farm and ranch families.  How soon some forget.      

Right now, the meat and potatoes issues facing rural America are the severe economic struggles of the hard-working families that keep us all fed, clothed, and fueled.  

If Washington does not listen to key leaders of agriculture in Congress and the farm economy falls hard, as experts are predicting it will absent meaningful and timely action, it will capsize a lot of farm families from across the country, drag down the U.S. economy, bog down next year’s legislative agenda, and not so gently remind pols of their main mandate to mind the store.

The time is now to act on meaningful relief for our nation’s farm families. 

Jeff Harrison is senior counsel for Combest, Sell & Associates LLC, a multi-client agricultural advocacy firm.