KDSN RADIO News
Senator Grassley says most Iowa farmers will qualify for bailout
Iowa Senator Chuck Grassley says the $12-billion farmer bailout program President Trump announced Monday is much-needed and he predicts a great many farmers in Iowa will qualify for it.
Grassley says this is quite similar to the help the president offered farmers in 2020 when trade trouble with China impacted U.S. agricultural markets.
Grassley keeps a very close eye on the daily movements of commodity markets.
“Yesterday’s prices in Shell Rock, Iowa, were about $4.11 for corn, still losing money on corn,” Grassley says. “The price of soybeans was down yesterday, I think about 12-cents, and at 10-something, farmers are still losing probably a dollar-and-a-half, a dollar-75.”
Grassley’s son, Robin, raises corn, soybeans and livestock on the family farmstead in New Hartford. The Republican says they had a good crop in Butler County this season, but input costs were up 25-percent, so he says they’re in the same financial boat as most other farmers.
“The last two years, I haven’t been farming with Robin 50-50, like you might call crop share,” Grassley says. “He pays me cash rent, so whether he applies for this aid or not, that’s his business. I’m not going to say anything about that.”
Grassley says the program is for farmers who are facing severe losses due to high input costs, falling commodity prices, and international trade troubles.
“The president ran on a platform of tariffs, and for the most part, his tariff programs are working out pretty good for the economy, generally,” Grassley says, “but when you have programs that are working out, sometimes they have harmful affects and these tariffs are having a harmful effect on farmers’ income.”
The Farmer Bridge Assistance Program will make payments available to farmers who raise 20 different crops, including corn and soybeans, with the checks expected in late February. Applications need to be in to USDA by December 19th.
