Mitt Romney Touts Agriculture Plan for Rural America

Oct 10, 2012

Romney Talks Ag Policy in Iowa

Mitt Romney made a campaign stop on a farm near Des Moines, Iowa on Tuesday to outline his white paper on agriculture policy. The GOP presidential nominee made his pitch in an attempt to solidify his vote with rural voters. Romney addressed a crowd of about 1,200 people and stressed his four main talking points outlined in the 16-page white paper: reforming taxes for farmers, purse new trade agreements for agriculture goods, reduce regulatory burdens on farmers and replace current energy policy in order to achieve energy independence by 2020.

During Romney’s speech he criticized Obama on his agriculture track record and for not supporting farmers and ranchers when they needed it most. “We already ask our farmers and ranchers to cope with natural disasters,” Romney said. “They should not also have to battle a man-made disaster of taxes and regulations from Washington. Our economic recovery must also be a rural recovery, and my plan for a stronger middle class will ensure that our agricultural sector grows and thrives.”

The former Massachusetts governor’s hopes that his plan for American agriculture puts him at stark contrast with that of his opponent Barack Obama, accusing Obama for not doing enough to support agriculture. Iowa will be a battleground state and will be important to both candidates.

Video: Let’s NOT Make U S Soybeans Great Again!

Trump cancels Xi meeting in South Korea at the end of the month as China has become hostile on rare earth minerals. We would not be surprised if Trump were to retaliate again with 145% tariff on China on the Nov. 10th pause deadline. China has pulled the rug under U.S. farmers again.
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The approved U.S. $12 - $13 billion for of U.S. farmers could also be delayed. It would help improve basis as they delay selling bushels.
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South America is 9.15% planted on soybeans.
The latest news on 2025 U.S. yields is that even if farmers applied 2 fungicide passes to protect against Southern Rust yields are still lower by 10-15 bpa.
There were rumors this week that the narrowing in the soybean futures spreads and basis could be China buying U.S,. soybeans under the radar?
A peace deal in Isreal/Gaza means lower crude oil futures as funds remove the geo-political risk premiums.
A potential meeting between Brazil’s Lula and Trump could see the 50% tariff removed on beef imports and weigh on cattle futures down the road.
The 2025 U.S. Midwest drought is very concerning as we end 2025.