This week’s Open Mic guest is Kip Eideberg, Senior Vice-President Government and Industry Relations for the Association of Equipment Manufacturers.  Like the industries they serve, equipment manufacturers are familiar with the cyclical turns in farming, forestry, construction and mining. Eideberg says higher interest rates, a lack of trade agreements and sluggish economies around the globe and in the U.S. are proving challenging for the customers to make capital purchases. Eideberg is hopeful Congress will bring a new farm bill in the Lame Duck session or at least early next year. He says tax policy will also be critical next year as both industry  and customers need amended policy on deductions for research as well as depreciation.

This week’s Open Mic guest is Randy Russell, President of the Russell Group. The race for the White House and leadership of the 119th Congress is coming down to the wire. The majority of polls show very narrow margins, but Russell suggests some trends may be developing as indicators of a Harris or Trump administration. Russell says history could be made in this Congressional election but control of the House of Representatives may not be known for several days after Nov. 5. Disaster assistance will likely be on the Lame Duck agenda and perhaps an economic assistance package for farmers, however, Russell says a new five year farm bill will likely be added to an already stacked legislative agenda in 2025.

This week’s Open Mic guest is Dan Basse, President of AgResource Company. With over 45 years of experience in the global grain market, Basse has seen cyclical swings in commodity prices and farm income many times before. Unlike years gone by, the United States farmer is no longer the primary supplier of grains to the international market and is politically and financially being squeezed out of what were once promising markets. Basse says price is no longer the primary driver of export sales and future administrations may be forced to use strong trade policy to open doors for farmers.  Basse says the renewable fuels industry as well as airlines need regulatory certainty to secure their share of a promising demand base for their crops.

This week’s Open Mic guest is former House Agriculture Committee Chairman Collin Peterson.  The Minnesota Democrat is concerned how misinformation in the campaign for the White House is impacting voters across the nation. Peterson believes there’s still time for the Congress to approve a new farm bill, but admits the results of the election could determine the political will for approving new policy.  Peterson says the respective agriculture committee’s can approve final language of the bill, but will need the leaders of Congress to approve additional funds to pay for needed updates in both farm and nutrition programs.

This week’s Open Mic guest is Mike Seyfert, President and CEO of the National Grain and Feed Association. Most in the ag industry were relieved that dockworkers were back on the job following an agreement on wages that allowed East Coast and Gulf ports to reopen last week. Seyfert says container shipments are an integral factor in meeting global customers demands for a number of U.S. agricultural products. Prior to his tenure at NGFA, Seyfert had an extensive career on Capitol Hill. He recognizes the challenges of  seeing a farm bill approved by the end of the year, but says the industry needs new policy now.