World lacks drive to reform agricultural supports
More than $500 billion is spent annually around the world on "often ineffective and trade-distorting support to farmers," says the Organization for Economic Cooperation and Development. In an annual report, the OECD said, "little progress has been seen this decade in reforming agricultural support policies."
Farmers could see “very low returns” on corn and soybeans
Midwestern farmers are likely to see “very low returns” from corn and soybean crops this year, said economist Gary Schnitkey of the University of Illinois as spring planting gets under way. When overhead costs such as seed, fertilizer, equipment and insurance are counted, returns per acre …
Across the board, farm groups ask Congress for more farm bill money
The continuing slump in the farm economy and shortcomings in the U.S. farm program make it imperative for Congress to provide additional funding for the 2018 farm bill, said a powerhouse bloc of farm groups. Their appeal to congressional budget and appropriations leaders came two weeks after the House Agriculture Committee asked for more money so it could plug holes in the farm safety net.
New farm bill should be based on need, not cost, says House chairman
The four-year slump in farm income is creating "real potential for a crisis in rural America," said House Agriculture chairman Michael Conaway at the first House hearing for the 2018 farm bill. "A good farm bill," he said, "will require resources," meaning money to offset low commodity prices and unfair subsidies overseas.
Conaway sees no sign of improvement in farm income slump
Leaders of the House Agriculture Committee said they aim to enact the new farm bill on time in 2018, "the first time in 16 years we will have done that," according to chairman Michael Conaway. The Texas Republican said the slump in farm income that began in 2013 "shows no signs of letting up."