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U.S. Farm Profit on Track for Seven-Year High After Trump Aid

  • Government payouts double to record on pandemic, trade spats
  • Aid accounts for 39% of $119.6 billion in net farm income
A Soybean Harvest As Futures Extend Drop Below $10
Photographer: Daniel Acker/Bloomberg

U.S. farm profit in 2020 will rise to a seven-year high after government-aid payments doubled amid the coronavirus pandemic and trade disputes, the Department of Agriculture said.

President Donald Trump regularly promoted his farm-aid initiatives as he appealed to his rural political base. He announced a second round of coronavirus relief for farmers at a campaign rally in the battleground state of Wisconsin seven weeks before the election.