The United States agriculture economy is facing numerous headwinds as the final quarter of the year approaches. Commodity prices are on the decline year over year, USDA is forecasting a record ag trade deficit, ag equipment manufacturers are laying off workers, and farmers are facing a lot of uncertainty with a new and updated farm bill appearing unlikely.
United States Senator Chuck Grassley (R-IA) says that he expects another one-year extension of the 2018 farm bill. He says that the farm bill gives farmers a level of security, but without an updated farm bill it isn’t enough protection.
Grassley says that Iowa’s farmers have better protected themselves from a downward turn in commodity prices.
He says that farmers are in a better spot now to deal with financial difficulties in agriculture than they were during the farm crisis of the 1980s.
Senator Grassley made his comments on Tuesday during his weekly ag press conference with farm broadcasters and reporters.
