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Shining Light on Farm & Food Policy for 20 Years.
Tuesday, February 25, 2025
House GOP leaders this week will try to hold their narrow majority together on a sweeping budget blueprint that would require at least $1.5 trillion in spending cuts, which face resistance from some moderate Republicans as well as some in the Senate GOP.
Farmer sentiment improved slightly in January as corn and soybean prices turned upward, according to the latest Purdue University-CME Group Ag Economy Barometer.
Taxpayer support for disaster aid for farmers remains significantly higher than it is for making payments to farmers as compensation for lower prices, and support for trade compensation is increasing, according to a quarterly survey.
Farmer sentiment declined in December although producers remain optimistic that economic conditions will improve over the next several years, according to the monthly Purdue University-CME Group Ag Economy Barometer.
Growers will still lose money on their 2024 corn and soybean crops despite the economic assistance payments approved by Congress in December, according to an analysis.
Texas farmers will receive about 10% of the $9.7 billion in market relief payments that Congress authorized in its year-end funding bill, according to a University of Missouri analysis. Iowa, Illinois and Kansas will collectively receive another 25% of the total.
The future of $31 billion in disaster relief and economic assistance for farmers was in doubt night after Elon Musk and then, Donald Trump, threatened the political future of any Republicans who voted for the 1,500-page bill that contains the funding. The Senate cleared a water resources bill intended to increase funding for inland waterway projects.
Democrats on the House and Senate Agriculture committees are proposing $10 billion in market relief for farmers as the parties spar over an extension of the 2018 farm bill, Agri-Pulse has learned. House GOP leaders, however, have so far objected to the method used to cover the cost of the farm payments.
USDA’s latest forecast for farm earnings estimates that net farm income will be down 6.3% this year to $140.7 billion, when adjusted for inflation. USDA estimates net cash farm income will be 3.5% lower this year at $158.8 billion.