Famer Sentiment Higher and Biden to Administer Coronavirus Funds

Famer Sentiment Higher and Biden to Administer Coronavirus Funds

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**After a dry autumn and early winter, the odds of California receiving average precipitation this water year stand between 10% and 30%.

That’s the estimate from climate experts, who say that storms forecast for early to mid-January could bring some improvement to Northern California.

Farmers say they’re making contingency plans for tight water supplies while hoping additional storms will boost the Sierra snowpack and reservoir storage.

**Farmer sentiment improved modestly in December as the Ag Economy Barometer rose 7 points from November to a reading of 174.

agrimarketing.com reports, December's sentiment improvement still left the barometer 9 points below October.

Both of the barometer's sub-indices, the Index of Current Conditions and the Index of Future Expectations, were higher in December although the current conditions improvement was three-times the size of the future expectations increase.


**Given the time necessary to convert legislation into action, the Biden administration will oversee the payment of most or all of the $13 billion in agricultural aid included in the latest coronavirus package

Ag Undersecretary Bill Northey tells agriculture.com, there’s still a chance some funds could flow before the end of January, or before the administration change January 20th.

Farmers would receive payments of $20 an acre, roughly $5 billion in all, on crops that suffered at least a 5% price decline during a specified period.


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