The end of the year means the beginning of new policies in 2025. With the election of President Trump, changes could be in store for U.S. agriculture.

Join High Plains Farm Credit President and CEO, Kevin Swayne, as he explores trade policy and the ag economy in this edition of President’s Insights.

The strong U.S. dollar—already challenging for exports—could amplify difficulties if tariffs increase. A robust dollar makes U.S. products more expensive abroad, discouraging buyers and driving down prices for key crops. Moreover, geopolitical uncertainty, like the ongoing Russia-Ukraine conflict, adds complexity to global grain flows.

Higher operating costs due to tariffs on imported inputs such as fertilizers and machinery could worsen profitability challenges. For instance, elevated fertilizer prices during trade disruptions have historically pressured farmers, especially in regions like the Midwest.

To mitigate risks, farmers may need to diversify markets, adopt cost-saving technologies, or pivot toward crops with stronger domestic demand. Policy support, such as adjustments in the Farm Bill or programs like the Market Facilitation Program could provide critical financial support to offset farmers’ losses.

High Plains Farm Credit has already engaged with agricultural leaders to stress the need for predictable trade policies and additional support for agriculture. Collaboration between the Administration and the agricultural sector could help avoid prolonged disruptions while fostering innovation. As uncertainty looms, Kansas farmers should remain vigilant, leveraging available resources and staying informed about policy developments to navigate this complex landscape.

As we close out 2024, we reflect with gratitude on the opportunity to serve you and our rural communities at High Plains Farm Credit. On behalf of our Board of Directors and Employees, I wish you and your loved ones a Blessed, Joyous, and Merry Christmas. We look forward to continuing to achieve success together and being your trusted partner in 2025 and beyond.

Merry Christmas and Happy New Year!