2024 held a lot of uncertainty, and this year may not be much different. CoBank economists say the rural economy is in trouble, and the future is still unknown.
They say rural industries are often more exposed to federal policy than other industries. They also point to the November election and say there are a lot of variables with the incoming Administration.
CoBank’s Knowledge Exchange says 2025 is not yet fully defined, but says they are focused on export markets and labor, as they could be major players as the year pushes on.
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Tariffs are pushing up input costs, with fertilizer prices rising $100 per ton and machinery costs climbing due to steel and parts duties.
Year-round sales of E-15 are another major topic on Capitol Hill, which, according to Rep. Adrian Smith (R-NE), is one issue up for debate this session with significant bipartisan support.
Lawmakers have until September 30 to shore up federal spending for next year, or risk a government shutdown. The Farm Bill is also set to expire the same day.
American Soybean Association President Caleb Ragland joins us to share his reaction to September’s WASDE and discuss the trade uncertainty between China and his industry.
Harvested acres are estimated at 90.0 million, making this year’s corn crop one of the largest since the 1930s.
