Lot No. LOT-2808 · offered October 14, 2026

Agricultural PolicyLot sheet

Farm Bill Stalemate Returns as Congress Splits Over Reauthorization

The 2018 farm bill expired on September 30, 2023, ending a five-year run that cost an estimated $867 billion. Eighteen months later, Congress remains divided over its replacement, leaving producers to plant under extended law.

Market notes

  • The 2018 farm bill expired on September 30, 2023, after a five-year run.
  • The Congressional Budget Office scored the 2018 farm bill at an estimated $867 billion over a decade.
  • The 2018 law set reference prices at $5.50 per bushel for wheat, $3.70 for corn, $8.40 for soybeans, and $535 per ton for peanuts.
  • Title IV (SNAP) accounts for more than three-quarters of total farm bill spending, making it the largest single line item.
  • Net farm income peaked at roughly $162 billion in 2022, according to USDA estimates, and is projected to fall from that level.

The 2018 farm bill expired on September 30, 2023, ending a five-year run that cost an estimated $867 billion over a decade, according to the Congressional Budget Office. Eighteen months later, no replacement has passed.

A headline in Tahlequah Daily Press declares: "DIVISION AGAIN: Farm bill deeply divides Congress." The word "again" carries weight. Stalemates over farm bill passage are not new to the chamber. This one has now outlasted one full growing season.

What does this change for farmers?

Producers locked in their 2025 planting decisions without knowing whether federal reference prices, premium subsidies, and conservation contracts would hold through harvest. The 2018 law set wheat reference prices at $5.50 per bushel, corn at $3.70, soybeans at $8.40, and peanuts at $535 per ton. Those numbers anchor roughly $5 billion a year in Price Loss Coverage and Agriculture Risk Coverage payments, a cushion paid to growers when the marketing year average price falls below the benchmark. The mechanism matters most when cash receipts tighten, as they have in 2024 and 2025.

How large is the underlying program?

The 2018 bill ran 807 pages. It authorized programs across twelve titles. Title I covers commodity supports. Title IV funds the Supplemental Nutrition Assistance Program, which historically accounts for more than three-quarters of total farm bill spending. Title XI governs federal crop insurance, with premium subsidies often running above 60 percent of the policy cost for most covered crops. The combined price tag of these three titles alone exceeds $1 trillion over a typical five-year window when nutrition assistance is included, which is why CBO scores farm bills against a ten-year budget baseline that often masks the true scope of any single authorization.

Where do the divisions fall?

Southern growers tend to defend cotton and peanut programs. Midwest corn and soybean operations prioritize crop insurance and reference price triggers. Urban members typically join nutrition title negotiations. Environmental members press for conservation funding. Those cross-coalition bargains built the 2018 law and its predecessors, and they will likely shape any successor that emerges from the current standoff.

Oklahoma agriculture depends heavily on cotton, wheat, peanuts, and cattle. Each carries a distinct farm bill title. Producers in eastern Oklahoma face particular uncertainty, given the state's concentration of peanut acreage and the program's price-trigger structure that activates at $535 per ton, a level not adjusted since the law's passage.

What are producers watching for next?

Net farm income is projected to fall from its 2022 peak of roughly $162 billion, according to USDA estimates. Input costs remain elevated from 2022 highs. Commodity prices have softened across major row crops. A multi-year program rewrite carries more upside, and more downside, than another short-term patch, and the headline in Tahlequah Daily Press suggests lawmakers have not yet bridged the gap.

Whether Congress can resolve the stalemate that produced the headline will shape the next five years of farm policy.

via Google News: Farm bill and ag policy (Source)

Filed under

  • farm-bill
  • crop-insurance
  • commodity-programs
  • reference-prices
  • plc-and-arc
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Marcus Bennett

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Senior reporter covering regulation, policy and their impact on Agribusiness coverage for industry professionals at Agribusiness Wire.

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