Still, it’s not as if farmers are throwing roses for the outgoing Biden administration. Spending accelerated on farm programs to curb climate change, but the Democratic president’s link to inflation drew farmers’ ire as prices on fertilizer and diesel skyrocketed. Meanwhile, though crop prices spiked following Russia’s invasion of Ukraine in 2022, grain values are now low.
And there’s been no new trade deal in years, with economic nationalism on the rise, industry officials say.
“[We] saw some deals started under [George W.] Bush that were finalized under the Obama administration, but over the last decade we’ve seen a change in how the U.S. approaches trade,” said Devin Hoffarth, market development and industry relations director for the Minnesota Corn Growers Association. “A lot less of these deals are happening. Quite frankly, the negotiations just aren’t being had.”
All of this has left farmers feeling uneasy.
Earlier this month, in a strip mall meeting room in Dilworth, just east of Fargo, at a small grains conference put on by groups including the University of Minnesota Extension and Minnesota Wheat, a PowerPoint slide from an Alexandria investor noted corn prices cratered toward $3 a bushel under Trump.
Hjelle remembers the time well — and the U.S. Department of Agriculture payments that arrived to offset his losses.