Producers have had a very uncertain year. The lack of the Farm Bill, trade wars, and low prices have been eroding away at the confidence of farmers and ranchers. However, some things have changed. Is it enough to bolster the spirits of producers heading to the polls Tuesday?
We have seen progress on trade. A trade agreement was signed with South Korea. Japan and the European Union have agreed to build frameworks for trade, and the United States-Mexico-Canada Agreement (USMCA) has been agreed upon to replace the North American Free Trade Agreement (NAFTA). It still needs to be ratified by the legislative bodies of all three member countries. There is even a glimmer of hope as President Trump has agreed to a meeting and dinner with Chinese President Xi, later this month.
American Farm Bureau Executive Director Dale Moore says the outlook has drastically changed in the past weeks.
Another positive for producers has been the administration?s easing of the regulatory burdens, such as Waters of the U.S. and allowing year-round sales of E15.
While there are foundational agreements with many countries, trade is still weighing on the markets.
The outlook may seem a bit better than a few weeks ago. However, we are not out of the woods by any means. Is slight progress going to be enough to keep the support of farmers at the polls on Tuesday? We will find out.
