The cost of fertilizer is up; crop prices are down. Farmers have struggled through drought, and ranchers sold off huge swaths of their herd.To top it all off, Congress has yet to pass a new iteration of the Farm Bill, which expires in a matter of days. And it likely won’t take action on the wideranging legislation, which offers everything from nutritional assistance to farm disaster recovery aid, until late this year.The slow action on the legislation isn’t unusual, but as farm income continues to slide, producers are struggling to make ends meet. Tim Gibbons, communications director for the Missouri Rural Crisis Center, noted it currently costs more to raise a bushel of corn than farmers make when they sell it.The prices farmers receive for major grain crops such as corn and soybeans are down 20 to 40% from highs set in 2022 in the months after Russia invaded Ukraine, according to U.S. Department of Agriculture data. But that spike was an aberration, Gibbons said.“We haven’t had really high prices for decades … that really support farmers over the long term,” Gibbons said, “so that not only can they stay on the farm, but pass that farm on to the next generations.”Researchers at the University of Missouri expect farm income to drop by 35% by next year, compared to a high in 2022. While they still expect income to remain above what farmers saw between 2015 and 2020, it’s a steep drop.“Farmers will have a tighter situation … than they experienced in the last three years, and they’ll have to be much more cognizant about having a very strategic marketing plan in order to make a good cash flow,” said Bob Maltsburger, a senior research economist at the Food & Agricultural Policy Research Institute at the university.The “bleak” state of the farm economy — as U.S. Sen. Jerry Moran, a Kansas Republican, put it — has agricultural groups and heartland lawmakers clamoring for an updated Farm Bill. But partisan gridlock in Washington, D.C., and tension over what programs to prioritize in the enormous bill have made it difficult for lawmakers to find common ground.“We need a Farm Bill in place,” Moran said on the Senate floor earlier this month, “even if it’s the current one, but the current one is insufficient to meet the needs of the disaster that is occurring in the incomes of farmers across the country.”The Farm ...
