Sometimes you dont get exactly what you want for Christmas, but good manners prevent you from saying so.
Such is the case with Americas farmers, who on Monday learned they can receive a second stipend from the USDA to help buffer lost sales because of the five-month-old tariff wars between the U.S. and, primarily, China and Mexico.
Grain, dairy and hog operators can now apply for a second $125,000 installment. The funds are limited to operations whose adjusted gross incomes are less than $900,000.
The second bailout is $9.6 billion, on top of Septembers $4.7 billion. Of the second installment, $7.2 billion is available to soybean farmers.
Because of the tariffs, China has purchased less than 3 percent of U.S. soybean exports, down from 60 percent.
Farmers are cautiously optimistic that sales have recently resumed, though most predict it will be too little, too late.
THE FEDS have also agreed to help farmers by purchasing $1.2 billion worth of food commodities, which it will distribute to the Emergency Food Assistance Program and child nutrition programs.
THOUGH the bailout is enormous, it doesnt come close to easing the pain that farmers are feeling from lost sales. When adjusted for inflation, net farm income for 2018 is projected to be down by $11 billion, or 14.1 percent, from 2017 levels, the third-lowest over the last two decades behind only 2002 and 2016.
The halcyon days of 2014 are slipping further and further into the distance. Today, farmers incomes are down 46 percent from the record highs of just four years ago.
THE FARM BILL of last week is a silver lining. Good for the next five years, it guarantees crop subsidies and crop insurance.
Still, what Kansas farmers need most is a strong export market, and theyre hoping the presidents tactics can deliver.
