By Jamie Martin
American Soybean Association President Caleb Ragland, a soybean producer from Magnolia, Kentucky, appeared before the U.S. Senate Judiciary Committee for a hearing titled “Pressure Cooker: Competition Issues in the Seed & Fertilizer Industries.”
Ragland described the economic pressure on soybean farmers due to escalating input prices and declining commodity values. “Commodity prices have fallen by an average of 50% since 2022, at the same time farm production costs continue to skyrocket,” Ragland said. “Soybean farmers are expected to net a $109 per acre market loss on their crop this year.”
Ragland pointed out that inflation in essential farm inputs - from fertilizer and seed to fuel and machinery - has created one of the most serious threats to the viability of U.S. row crop farms. “Farm profitability for row crops like soybeans will continue to remain in peril if input costs remain static at current levels,” Ragland warned.
Ragland urged lawmakers to address the crisis through immediate relief measures. His recommendations included removing tariffs on vital inputs, clarifying federal biofuel policies to support domestic soy markets, and offering direct aid to farmers struggling with steep market losses and negative basis trends.
Photo Credit: gettyimages-gilaxia
Categories: National