Farm Economy
The opportunity to participate comes available at a crucial time, as growers are experiencing low commodity prices, high input costs and a variety of trade uncertainties.
The March Ag Economists’ Monthly Monitor found 62% of ag economists think the row crop side of agriculture is currently in a recession, and 85% think the situation will accelerate consolidation on farms and among agribusinesses.
Not only is USDA releasing its first survey-based acreage report of the year, but it’s the week President Trump is set to unleash reciprocal tariffs. Market analysts warn it could be an explosive week in the markets, and farmers should prepare.
A small group of farmers had the chance to meet with Health and Human Services Secretary Robert F. Kennedy Jr.'s team last week. They described the conversation as enlightening and eye-opening, but their biggest takeaway was how open Kennedy’s team was to hearing their point of view.
The senior senator from Iowa wants E15 approved for year-round use, fair and tariff-free trade, plus more action and a lot less talk regarding tax cuts and budget reconciliation efforts in the Senate.
With tariffs and trade in focus again, a recent AgWeb poll asked farmers if they support President Donald Trump’s use of tariffs as a negotiating strategy.
The majority of respondents in the March Ag Economists’ Monthly Monitor agree the U.S. is currently in a trade war, but who wins? Ag economists say it’s not the U.S., Canada or Mexico but rather Brazil that could come out on top.
Even with an improved outlook,Ever.Ag chief economist Lee Schulz says his forecast points to another tough reality: producers won’t get back to break-even levels on their balance sheets until August of this year, a testament to just how steep losses were in 2023.
President Trump’s new tariffs on imports from Canada, Mexico and China have gone into effect. While the economic consequences are unknown, Secretary of Agriculture Brooke Rollins has promised to have a plan ready for farmers, if needed.
The look at corn and soybean acreage under current conditions will be among the key focal points during the event, but it will also be key to see how USDA paints an export outlook with so much uncertainty surrounding tariffs and trade.