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Corn farmers need more than a penny

The Trump administration has announced a new trade mitigation program.

John Torres, the government and industry affairs director with the Ohio Corn and Wheat Growers Association, says while they’re appreciative, farmers would prefer to restore market activity between the U.S. and foreign trading partners.

“At the end of the day farmers need access to open markets and access to our customers we spent a generation building,” he says.

But, he says payments must be recalculated this time because a penny per bushel isn’t enough for corn farmers.

“Forty-seven cents that we projected in the first round is probably more in line, but since that period we’ve lost even more market share and had even more damage,” he says. “So, in our estimation, 47 cents a bushel is probably the floor at what we should be looking at going forward.”

Torres says the first round didn’t take into consideration the market implication of co-products that impact corn farmers like DDGs and ethanol.

Audio: John Torres, Ohio Corn and Wheat Growers Association