Volume XX No.33: August 14, 2015
It’s August, which means the 185 million acres of corn and soybeans planted across the nation are well on their way to harvest. It also means that regardless of how the weather fares into the fall, farmers and ranchers are set to reap billions of taxpayer dollars. This is because the farm bill passed last year pretty much guarantees that regardless of the weather, every year is a fiscal disaster for taxpayers.
Producers in drought-ravaged California and the West are notably facing difficulties, but the bulk of farmers raising the bulk of crops are expected to do well. The United States Department of Agriculture (USDA) just projected harvests of most crops, including corn and soybeans which are the two most popular, are expected to be a tad shy of last year’s record harvests. Prices may dip a bit, but it’s pretty much business-as-usual and what everyone expected when they planted in the spring.
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