Corn has been big business in recent years, with prices peaking at more than $8 a bushel, up from years of $1.50 to $3 per bushel. But as the corn boom begins to fade, and prices are expected to drop below $5 a bushel, corn growers and the businesses that benefited from the boom -- those who sell seed, fertilizer, chemicals, equipment -- see their profits fall, some wonder if the threat of such low potential prices might prompt crop farmers and their lenders to push lawmakers to pass a new Farm Bill, reports Agri-Pulse, a Washington newsletter. Corn prices have dropped 40 percent since last year.
On Tuesday American Farm Bureau Federation president Bob Stallman "urged farmers and ranchers to keep sending Congress the message that agriculture needs a new, five-year Farm Bill, and called talked of a one-year extension of the current Farm Bill a 'cop out,'" Agri-Pulse writes. Yet, several congressional offices say "they get more phone calls and letters from conservative groups opposed to the farm bill than from farmers, ranchers and the agribusiness community who support the bill. If there is a nervousness about the lower price scenarios, it's not yet translated into much political activity."Agri-Pulse is subscription only, but a free trial is available by clicking here.
On Tuesday American Farm Bureau Federation president Bob Stallman "urged farmers and ranchers to keep sending Congress the message that agriculture needs a new, five-year Farm Bill, and called talked of a one-year extension of the current Farm Bill a 'cop out,'" Agri-Pulse writes. Yet, several congressional offices say "they get more phone calls and letters from conservative groups opposed to the farm bill than from farmers, ranchers and the agribusiness community who support the bill. If there is a nervousness about the lower price scenarios, it's not yet translated into much political activity."Agri-Pulse is subscription only, but a free trial is available by clicking here.
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