Minnesota's ag commissioner calls $12 billion farm bailout a necessary band-aid

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.

A band-aid, is what many view the $11 billion in federal aid for row crop farmers and another billion for other crop farmers who are looking into an emerging farm crisis.

U.S. President Donald Trump on Monday unveiled a $12 billion aid package for American farmers hurt by trade disruptions, many of whom face the financial trenches as they plan for next year's crop. Trump said the bailout will come from tariff revenues despite facing billions in lost sales from his trade war with China.

Trump announced the aid at a roundtable at the White House alongside Treasury Secretary Scott Bessent, Agriculture Secretary Brooke Rollins and members of Congress. Growers of corn, cotton, sorghum, soybeans, rice, cattle, wheat and potatoes attended the roundtable, a White House official said.

Speaking a few hours after the announcement, Minnesota Agriculture Commissioner Thom Petersen called the bailout, which is considered taxable income, "needed and welcome."

"It covers Minnesota's big grain crops -- we're in the top five in corn and soybeans, and definitely with the soybean market being here," Petersen said. "But also wheat, and we've also had more farmers plant oats in Minnesota, and those farmers need assistance, and we're glad to see canola covered in there as well."

The additional billion dollars for specialty crops, which Petersen said came together last minute thanks to hard work by legislators, was very welcome news for the state.

"I think the administration listened," Petersen said. "A lot of times for Minnesota, we get overlooked on (speciality crops), but we have a lot of fruit and vegetable farmers, and apple growers, especially."

Also welcome news for Minnesota was that sugarbeet producers were included in the aid. American Crystal Sugar on Dec. 4, announced that net sugarbeet payments per ton for 2025 will be far less than payments in r