Just because the Farm Bill deadline got extended to the fall of 2024 doesn’t mean there’s a lot of extra time for discussion that according to Mary Kay Thatcher, Senior Manager of federal government and industry relations with Syngenta,
It only probably got us till about May of next year. If it if we try to pass it closer to the November election than that it just doesn’t happen. There’s too much politics tied up when you think about the fact that we also kick the can down the road on all these approps bills, some of which will, you know, have to come to fruition on January 19. Some on February 2, we’re not going to do anything else till we finish that. So we’re at a fairly small timeframe to be able to really get this done. And I would say there’s at least a 5050 chance it doesn’t get until 2025 instead of 2024.
That because of the upcoming election year making Farm Bill negotiations messy.
When you think about the fact that we also kick the can down the road on all these approps bills, some of which will, you know, have to come to fruition on January 19. Some on February 2, we’re not going to do anything else till we finish that. So we’re in a fairly small timeframe to be able to really get this done. And I would say there’s at least a 5050 chance it doesn’t get until 2025 instead of 2024
Crop insurance also an important part of the Farm Bill. She says a number of groups and companies are lining up to make sure it stays strong.
One thing that is really good is that the troops really have rallied around crop insurance, be it companies like mine or the lending institutions are farm groups about just how important it is and how important having a strong crop insurance program is to getting away from some of the ad hoc disaster assistance. While I think that assistance has absolutely been necessary, whether it’s through COVID or the tit for tat, trade, war, etc. That money doesn’t pay out very timely. Oftentimes it’s a couple of years after you have the disaster before it pays out. It never seems quite fair. They keep changing the rules on this is how we paid out this time. This is the next so crop insurance is such a predictable option. I think that continuing to have good support for that it’s going to be a really important safety net for farmers.