Farm Bill
With the government funding in place for now, work on a new farm bill can continue, with the same questions (timing, funding, Title 1 reform, etc.) still being unanswered.
As Congress drew closer to a government shutdown, the news pressured commodity prices. The drop in commodity prices happened despite what some viewed as a fairly bullish September Grains Stocks report for corn.
Members of Congress are currently in disagreement over how long it will take to get a new farm bill finished, which is why one ag economist fears it could take two years to finally see a new Farm Bill.
Farm Bill discussions and debates don’t pack as much drama for producers. According to JohnPhipps, there’s an unspoken realization that the Farm Bill doesn’t have the same influence on the farm economy it once did.
The 2023 farm bill may not be completed before it expires on September 30 but there is hope it could be done by year end.
Big moves in Washington in 2023 could impact your farm.
House Ag Committee Chairman G.T. Thompson, along with other members, is seeking additional funding sources for the bill, but that will likely be the biggest farm bill hurdle that may trip up lawmakers.
The majority of ag economists don’t expect a farm bill to be written by the upcoming deadline, but a few think it could happen by the end of the year, according to the most recent Ag Economists’ Monthly Monitor.
Dr. Carl Zulauf of Ohio State University, via a FarmDoc Daily article, proposes merging General CRP and Continuous CRP into a Site Specific CRP.
Erik Lichtenberg, University of Maryland professor, says Congress could reorient farm bill conservation funds for climate change, but it could cut into their support.