Lawmakers and farm groups are renewing calls for additional federal assistance as low crop prices and elevated production costs continue to pressure farm incomes across the United States. Corn and soybean prices have fallen sharply from the highs seen earlier this decade, while expenses for land, equipment, labor and interest rates remain elevated. Agricultural economists at several universities have projected another year of tight or negative margins for many row-crop producers. Congress approved economic assistance for producers earlier this year, but industry groups argue that additional support may be needed if market conditions fail to improve. The American Farm Bureau Federation and commodity organizations have also continued to push for updates to farm safety-net programs, saying current reference prices under commodity programs no longer reflect modern production costs. The Congressional Budget Office recently projected federal farm support spending could rise substantially if additional aid measures are approved amid continued economic stress in the agricultural sector.
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