Despite the effects of the pandemic and the trade war, U.S. farm income this year will be the highest since 2013 because of the largest federal payments ever — $46.5 billion, triple the usual amount, the government said on Wednesday. Think tank analysts said farm income would fall in 2021 with the expiration of Trump-era bailouts, but the drop-off will be lessened by the ongoing rally in commodity prices and increased ag exports.
Five weeks after saying he was hopeful China would import $36.6 billion of U.S. food, agricultural and seafood products this year, Agriculture Secretary Sonny Perdue is less certain the target will be met. A spate of sales to China during August and September has raised hopes in farm country that the goal, set in the "phase one" trade agreement, would be met despite a slow start.
Like school nutrition staff across the country, Marsha Wartick, food service director for the Ronan School District in tiny Ronan, Montana, spent the last six months feeding hungry kids and their families under a USDA emergency meals program. Now, as kids head back to school, Wartick is scrambling to react to mixed signals from the administration and hoping the emergency program is allowed to continue through the entire school year. (No paywall)
U.S. farm income, buoyed by record-setting farm subsidies this year, will sink in the new year with the disappearance of government payments to buffer the effects of the trade war and the coronavirus pandemic on agriculture, said the FAPRI think tank on Thursday. Farm groups and their allies in Congress are likely to seek billions of dollars in new federal assistance, said analysts.
The coronavirus "dealt an economically devastating hand to nearly the whole country," but job losses were smaller and shutdowns were shorter in rural America, said rural lender CoBank in a quarterly report. "Economic recovery may now favor rural communities for the first time in many years."(No paywall)
Farmers could combine environmental and economic sustainability through practices that lock carbon into the soil, but it's dauntingly difficult to enter the carbon sequestration market and get paid for it, said the leaders of the two largest U.S. farm groups on Wednesday.
Grocery delivery is nothing new, and it certainly has become much more common since the beginning of the Covid-19 pandemic. But for stores like Michigan Hometown Foods, which is the lone grocery in a town of 275 people, the process looks a lot different than it does in a larger city, as Stephanie Parker reports in FERN latest story.(No paywall)
The Department of Agriculture said Thursday it would provide up to $1 billion in loan guarantees to help rural businesses and farmers meet their working capital needs during the pandemic. The new program is patterned on the USDA's existing Business and Industry program but with a higher loan guarantee level and lower requirements for collateral. (No paywall)
If 2019 was stressful for farmers and ranchers, with low commodity prices and bad weather for crops, the coronavirus crisis is compounding the economic challenges this year, said three Federal Reserve banks in recently released quarterly reports. (No paywall)