American farmers may benefit doubly during efforts to end the Sino-U.S. trade war, suggested President Trump over the weekend. They will get billions of dollars in payments intended to mitigate the impact of the trade war on the agricultural sector, and China will buy "a tremendous amount" of U.S. food and ag exports while bilateral negotiations are ongoing.
The farm safety net offers many strands of support to farmers swamped by a historically slow planting season, but the strands pull in different directions, says associate professor Bradley Lubben, of the University of Nebraska. "The complexity for producer decision-making is compounded," he said, when potential Trump tariff payments and disaster aid are woven into traditional crop subsidies and crop insurance.
Agriculture Secretary Sonny Perdue said he'll have a decision "sooner rather than later" — maybe by Friday or maybe next week in Iowa with the president — on whether unplanted cropland will be eligible for Trump tariff payments this year. The USDA initially said unplanted land would not be eligible for the up to $14.5 billion in trade-mitigation payments, but the huge amount of flooded land in the Midwest prompted a second look at the question.
In a new lawsuit, environmental advocates say a Colorado beef-packing plant owned by JBS has been dumping polluted wastewater into a river for years. The suit comes as the Brazilian company is under fire for taking millions in President Trump's tariff bailout payments. (No paywall)
President Trump announced a $16-billion aid package on Thursday to buffer the impact of the trade war on farmers and ranchers this year. Speaking separately to reporters, Agriculture Secretary Sonny Perdue said billions of dollars of additional aid may flow in the future.
Mired by a rainy and chilly spring, U.S. farmers may soon give up on planting corn in rain-soaked parts of the Farm Belt because it is getting too late for money-making yields, said economist Scott Irwin of the University of Illinois. "I truly believe we are in 'black swan' territory as far as late corn planting is concerned," he said over the weekend, using a term popularized during the financial crisis a decade ago.