Ag Assistance Announcement Happening on Tuesday

In an interview on CNBC, Treasury Secretary Scott Bessent said an announcement on an assistance package for farmers will be made on Tuesday. “American farmers overwhelmingly voted for President Trump, more than 90 percent; he loves the farmers,” said Bessent. “We have a great Secretary of Agriculture in Brooke Rollins, three of us were in the Oval (Wednesday) and you should expect some news on Tuesday on substantial support for our farmers, especially the soybean farmers. They’ve had President Trump’s back, and we’ve got their back.” Bessent said soybean farmers are unfortunately being used as pawns by the Chinese in the current trade negotiations. Trade agreements with other countries were cited as one way to fill that void. Bessent, who owns farmland in North Dakota, also brought up the big crop. “The harvest is so big that we may run out of storage so that’s also affecting prices.” In addition to financial assistance, Bessent said the Administration is also working on plans to address financing for the 2026 crop. Dow Jones Newswire is reporting the Trump Administration’s helping hand for agriculture will total at least $10 billion. However, the article said the discussion is ongoing and nothing has been set in stone.