BISMARCK, N.D. (AP) — North Dakota’s largest farm group is pushing for adjustments to crop insurance payments to protect farmers from international trade retaliations.
The Bismarck Tribune reports that the U.S. House and Senate versions of a new Farm Bill are heading to conference committee. The North Dakota Farmers Union sees the bill as an opportunity to raise reference prices for price loss coverage crop insurance plans.
The insurance plan provides payments when a commodity’s marketing year average price falls below the reference price set by Congress in the 2014 Farm Bill.
Farmers are facing an unfriendly market as negotiations for new agreements with U.S. trade partners continue to flounder. Canada announced new tariffs earlier this week and China imposed $34 billion in retaliatory tariffs on U.S. products Friday.