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Balanced Reporting. Trusted Insights.
Sunday, April 13, 2025
A possible relief package for farmers is in play as lawmakers return to Washington the first time since Donald Trump's sweeping victory, and Senate Republicans are set to elect a leader who will be critical to carrying out the president-elect's legislative agenda.
While campaigning in Michigan Wednesday, GOP vice presidential candidate JD Vance talked up a couple of ways to lower food prices – firing the agriculture secretary and increasing oil and natural gas production. He seemed to get mixed up on who’s running USDA, however.
Some farm groups are calling on Congress to allow farmers to reallocate the base acreage they have enrolled in farm programs, a move that could allow growers to increase their potential government payments.
Farmer sentiment improved in April with commodity prices spiking amid Russia’s war in Ukraine, but producers increasingly worry about the steep increases in input costs, a monthly survey shows.
Russia’s invasion of Ukraine could raise grain prices as much as 20% while boosting fertilizer prices another 13% and further inflating food costs, the UN Food and Agriculture Organization warns.
U.S. farmers are already suffering from high fertilizer costs, and Agriculture Secretary Tom Vilsack on Thursday warned suppliers not to try to take advantage of the chaos from the Russian invasion of Ukraine by raising prices.
