Bronaugh Supports White House Plan to boost Acres
Asked about some of the criticism of subsidies (higher loan rates and subsidy to double crop wheat/soybeans) proposed by the White House, USDA Deputy Secretary Jewel Bronaugh told Politico USDA wants to “support our farmers and ranchers in being productive” amid “concern[s] about food availability… To be able to increase the availability of soybeans and wheat in our major commodities, both here in the United States and all over the world, is going to be critical not only from a nutrition security standpoint, but also from an ability to support our producers here in the United States,” Bronaugh said.
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Asked why crops like soybeans would require subsidies into next year, Bronaugh said prices could dip in the next year — even though ag economists expect prices to remain high through 2023. “We always want them to be able to, through their prices, to be able to survive in terms of our major commodities,” Bronaugh told Politico. “But the reality of the history of so many years [is that] they have needed more support. And so, we as necessary will continue to support them, because that’s what they’re going to need to be sustainable.”
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Comments: New-crop soybeans and wheat are currently considerably above the loan rate levels under the White House plan designed to attract more wheat and soybean plantings. Of note, Politico said a USDA spokesperson says the department was involved in designing the programs. USDA Secretary Tom Vilsack has yet to specifically comment on the acreage-boosting plans but will likely be asked to comment on this topic during a Senate hearing Tuesday.