Though it's impossible to predict the future, a handful of issues are already contenders for the top issues facing agriculture in the coming year. Brent Gloy and David Widmar write for Agricultural Economic Insights. Here are a few on their "Top 11.5" list:
Farm income and Market Facilitation Program: "Ad hoc MFP payments in 2018 and 2019 have propped up farm incomes, but no such program is currently in play for 2020."
On the heels of farm income, farm finances will also be a top issue in 2020. "As we noted in 2019, the challenges in the farm economy go deeper than farm income," Gloy and Widmar write. "Specifically, the trends toward higher debt and lower working capital reveals an unfavorable trend on producers’ balance sheets. Will farm balance sheets stabilize in 2020?"
Other items on the list include the trade war with China, the U.S. economy, weather, and political issues. That last one encompasses a lot, Gloy and Widmar write: "USMCA. Impeachment. Tensions in the Middle East. Farm workforce modernization legislation. The EPA and RFS. Oh, and an election. There is a lot for lawmakers to get themselves distracted by in 2020. The biggest questions for agriculture – at least at this point – surround USMCA and the Phase 1 trade deal getting across the finish line. We also would not be surprised if farm policy and MFP get attention during the plethora of upcoming political debates."
Widmar and Gloy included a light-hearted entry for #11.5: What's up with those mysterious drones in Colorado and Nebraska?
No comments:
Post a Comment