Ag outlook dour, wrong time to cut farm supports

In preview of issues for the 2018 farm bill, the leaders of the two largest U.S. farm groups argued against cuts in farm subsidies as the agricultural sector endures years of low commodity prices and income that is a fraction of the record set in 2013 at the end of a seven-year boom.

Corn, soy, wheat growers opt for farm law’s revenue subsidy

Told to choose between traditional subsidies and a new-era revenue subsidy, corn and soybean farmers overwhelming opted for the revenue plan, the government announced. Growers were expected to choose the Agriculture Risk Coverage plan, analysts said, because it will provide larger payments than traditional subsidies triggered by low prices over the life of the 2014 farm law.