Net returns over variable costs would be $344 an acre for corn and $273 for soybeans based on expenses nationwide.
Although Trump declared that the USMCA “is a very, very big deal for our farmers,” a study says U.S. farm exports will fall by $1.8 billion due to retaliatory tariffs by Mexico and Canada.
Three Senate races, seven House races, and three statewide referendums could dramatically change the food and agriculture policy landscape after Tuesday’s midterms.
When the Trump administration announced the farm bailout just before Labor Day, officials said payment of a second round would depend on the state of trade relations.
President Trump told cabinet officers on Wednesday “to come back with a 5-percent cut for our next meeting."
The U.S. meat industry and its emerging competitors in the field of lab-grown meat struck a truce in a letter to the White House.
Hurricane Michael, which brought 155-mile-per-hour winds and could dump several inches of rain on the region, was threatening crops and livestock from the Florida Panhandle to North Carolina.
Governor Roy Cooper earmarked $235 million for agriculture out of a proposed $1.5 billion in state spending for recovery from Hurricane Florence “and future storm resiliency” on Wednesday.
The pact should aid the flow of wheat, poultry, eggs and dairy exports, said President Trump, adding that for U.S. negotiators, “Dairy was a deal-breaker.”
The U.S.-Mexico-Canada agreement that will succeed NAFTA includes the elimination of Canada’s Class 7 dairy price system and greater U.S. access to the Canadian dairy market.