Western Kentucky Soybean Farmer Jed Clark, like many Ohio Valley farmers, is in a tighter financial situation because tariffs from the trade war and market forces have depressed crop prices.
“We’ve had a collapse in our grain markets,” Clark said. “We’re seeing some of the lowest commodity prices for wheat we’ve seen in a long time.”
The Trump administration’s budget proposal for fiscal year 2020 would cut U.S. Department of Agriculture funding by 15 percent. That includes a proposal to reduce the amount of subsidies farmers receive to afford crop insurance, which can cost thousands of dollars depending on the crop. Farmers would have to pay for 52 percent of their crop insurance instead of 38 percent.