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Farm lobby says third round of trade aid may be needed


If political gridlock lingers in the air during the 2020 election cycle, farmers may need a third round of government aid to stay afloat, Reuters reports. Farmers have struggled this year as top U.S. soybean buyer China curtails purchases. The Trump administration has pledged as much as $28 billion in support for agriculture in two separate rounds after initially proposing a one-time payout of $12 billion. Funding is coming from the Commodity Credit Corp., formed during the Great Depression, but the group can only borrow a total of $30 billion from the U.S. Treasury, leading the Farm Bureau to question whether sufficient funds will be available.

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