Missouri farmers received a rare bit of good news today, as the Trump Administration announced a market facilitation program that will replace at least some of the income lost to continuing trade disputes. The program, following a spring of historic flooding, delayed planting and depressed prices, will give many farmers the opportunity to farm another year. Although every farmer would rather receive income through a well-functioning market than through government subsidies, the payment will make a positive difference for Missouri agriculture.
There is some concern that due to the design of the program, farmers will be encouraged to plant more soybeans at a time when the soybean market is suffering from large carryovers. The USDA explicitly promised that the program will guard against distorting markets. We hope they are right.
Missouri Farm Bureau continues to stay engaged with our elected and appointed leaders about the impacts of tariffs on our members. We look forward to learning additional details as they are released in the coming days.
Missouri Farm Bureau President Blake Hurst