Bankers: Farmers Want Trade Not Handouts

Dan Industry News Release, Trade

Following the president’s announcement of a $12 billion trade assistance package to farmers, the nation’s bankers echoed farmer sentiments, saying producers want free trade and not handouts.

bankersA Farm Journal report quotes ag lender Alan Hoskins as saying it’s far too soon to know how beneficial the aid will be. Hoskins did say one thing is clear; it’s not what farmers want. “They want to be able to turn a profit by selling their grain,” Hoskins says, “and not by getting government handouts.” Hoskins says cash flow is going to be very tight this year, which will lead to some difficult conversations between producers and lenders. However, he says it’s not something to be feared by producers, but rather it’s an opportunity to sit down and work together to figure out something that will benefit farmers.

Illinois producer Michael Cox tells Farm Journal that the aid package is just a temporary fix, at best, because there are too many questions about the program. Hoskins says many farmers are wide open to market volatility at this point and those payments will come in handy.

From the National Association of Farm Broadcasting News Service.