January 20, 2020

Farm Bill; Biofuels; Budget; and Regulations

Categories: Budget /Ethanol /Farm Bill

Farm Bill Issues

Joanie Stiers reported yesterday at The Register-Mail Online (Galesburg, Il.) that, “The No. 1 farm bill issue for David Serven’s family farm is crop insurance.

“‘The risk level that is there today that our grandfathers never saw before is immense,’ said Serven, a fourth-generation corn and soybean farmer in southern Knox County. ‘Crop insurance to me is the safety net we need to keep there.’

“The current farm bill expires at the end of this year, and the ongoing discussion about future U.S. farm policy comes at an interesting time. The agriculture economy is strong and the government faces a growing deficit that will prompt significant cuts. Meanwhile farmers contend with an unseen level of financial risk to produce Illinois’ major commodities: Record land values, historically high costs for everything from fertilizer to seed, and increased pressure to ‘pre-pay’ for those inputs one or two years ahead of a crop’s harvest. The crop market proves highly volatile, with large market swings in a shorter period of time.”