Ragland Calls for Tariff Relief and Biofuel Policy Support
Caleb Ragland, president of the American Soybean Association and a soybean farmer from Magnolia, Kentucky, testified before the U.S. Senate Judiciary Committee during a hearing titled “Pressure Cooker: Competition Issues in the Seed & Fertilizer Industries.”
Ragland highlighted the financial challenges U.S. soybean farmers are facing, noting that high production costs and reduced market prices are severely impacting profitability. “Commodity prices have fallen by an average of 50% since 2022, at the same time farm production costs continue to skyrocket,” Ragland said. “Soybean farmers are expected to net a $109 per acre market loss on their crop this year.”
Ragland emphasized that rising input costs - including seed, fertilizer, pesticides, fuel, and equipment - are among the most significant threats to farm sustainability. “Farm profitability for row crops like soybeans will continue to remain in peril if input costs remain static at current levels,” Ragland stated.
Ragland called on Congress and the administration to act swiftly to reduce production costs and prevent further family farm closures. He proposed three key policy actions: removing tariffs on critical farm inputs, finalizing biofuel policies such as RFS and 45Z credit guidance to expand soy markets, and providing targeted financial assistance to farmers facing severe market losses.