The current farm bill was first set to expire on September 30, 2023, and then extended and set to expire on September 30, 2024. That day has come and gone with no extension and no new bill to take its place. What does this mean for Illinois farmers?
The farm bill provides stability for farm families. Programs like crop insurance protect the crops from weather events or other catastrophes. Commodity programs protect enough of the farm family’s revenue to help them withstand a bad period and not lose the farm. Without a bill, Illinois farmers lose some of the stability they rely on.
This year, the unique situation is that the farm economy is poor. Commodity prices are low and farmers are expected to lose money on every acre they farm. The projection is that the overall farm economy will be worse next year than this year. The stability provided by the farm bill is essential – and the sooner, the better.
However, Illinois corn farmers are not interested in a farm bill that is not good policy. Whatever bill is passed, the programs should be regionally fair and respectful of all the different crops grown in the U.S. and all the management styles of those crops. The policy should also be built on crops that are grown today and not crops grown 20 years ago. Crops and acres shift over time, and a good farm bill will reflect those changes without driving those changes.
The impact of not having a farm bill will be minimal until the calendar rolls to 2025. Then, as farmers prepare for the crops they will plant in the spring, the lack of stability will be noticeable. Farmers are also aware that this farm bill is more realistically a food and farm bill on which hungry families all over America rely. Hopefully, Congress will soon agree on the future of farm and food policy to benefit us all.
