The headline in a recent Wall Street Journal editorial read: “Paying for ethanol at the pump and on the plate.” It caught our eye for the fact that it doesn’t even pass the commonsense test. Gas prices are way down and projected to stay that way. So, too, are corn prices.
A financially healthy rural economy requires a financially healthy farm production sector. And that sector relies on a safety net when catastrophic events happen. It is a modest investment considering the return, which is a stable and affordable national food and fiber supply.
We have a strong foundation for cultivating the next generation of farmers in the 2014 Farm Bill, but the law needs to be fully implemented for any of this to matter. Although it is on the books for five years, it is likely to be under attack during the annual appropriations process.