The Commodity Credit Corp. (CCC), a federal agency set up during the Great Depression would handle incremental payments, adding up to 12 billion dollars, to producers of soybeans, sorghum, corn, wheat, cotton, dairy and hogs. The USDA claims this help farmers handle the surplus commodities and develop new markets in the US and abroad.
Something to note is that the CCC can borrow tens of billions of dollars from the U.S. government to use for its programs and doesn’t require new congressional approval to fund the plan outlined by the administration.
The Trump administration plans to tap federal food purchase and distribution programs, including buying surplus commodities of some farm products such as fruits, nuts, rice, legumes, beef, pork and milk for distribution to food banks and other nutrition programs. And trade assistance provided to the agriculture industry through USDA’s Foreign Agriculture Service to help develop new export markets.
At the same time, the approval rating among farmers for Trump is dipping. He had their vote and a 70% approval rating early on, but this has dipped to a 35% approval rating that’s quickly slipping. Farmers traditionally do not want hand-outs. What do farmers want? An open market.