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Or sign-in if you have an account.Donald Trump has promised that Iran’s rebuilding after the war could be a boon for American farmers. Photo by SAUL LOEB/AFP via Getty ImagesPresident Donald Trump had a surprise for the farmers he invited to dinner at the White House on Thursday: a request to Congress for US$11.1 billion in assistance that would amount to the second bailout of the year for the beleaguered agriculture sector.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe appeal to Congress is part of a supplemental funding package that includes defence spending. It seeks US$10 billion in assistance for growers of crops such as corn, soybeans and rice, along with US$1.1 billion for Florida producers affected by winter storms late in 2025 and earlier in 2026.The aid request was one of several items rolled out by the administration this week to woo farmers, who have formed a key part of the president’s political constituency but have been hurt by the backlash to some of his more controversial actions, including imposing sweeping global tariffs and launching a war with Israel against Iran.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againLate Thursday, the White House released an executive order that aims to bolster regenerative agriculture, and at the dinner, Trump promised that Iran’s rebuilding after the war could be a boon for American farmers.“The Islamic Republic of Iran, they’re having a hard time with food, and we’re going to be taking some of their money, and we’ll spend it, and we’re going to be buying wheat and soybeans,” Trump said at a Rose Garden dinner.“That process is going to be starting pretty soon. It’s going to be pretty big too. I think it’s going to be very big.”It all comes as the Iran war resulted in soaring costs for fuel and fertilizer, further squeezing farmers already dealing with Trump’s tariff regime that crimped United States crop exports to the world’s top buyer China and also raised prices for imported raw materials.The new aid request follows a separate US$12 billion package, first announced in December, that started paying out earlier this year. Taken together, the two packages would be roughly equal to the US$23 billion in payments to farms for losses linked to international trade disruptions during Trump’s first term.“It is no secret that farm country is struggling, and this temporary economic support will go a long way to provide farmers with economic stability,” said Scott Metzger, an Ohio grower and president of the American Soybean Association.However, Nebraska farmer Ben Steffen said the aid is appreciated but only helps so much.“The last time they sent us some relief like this, we got a check for what amounted to US$25 an acre,” he said, a fraction of his budget to raise corn. “That US$25 is gone in a whisper.”Steffen said a much broader approach is needed to solve the challenges producers are up against. “We need a trade policy that’s coherent, that’s consistent,” he said.While oil and fertilizer prices have been falling amid hopes for the Strait of Hormuz reopening, and China has started buying American soybeans again, many farmers need higher crop prices to turn a profit. Prices for corn, the biggest U.S. crop, dropped to just US$4.315 a bushel for the autumn harvest, a fresh contract low Thursday before prices turned higher.The dinner and the announcement marked the latest move by the president to actively court American growers, a key voting bloc, before midterm elections. He has hosted farmers on various occasions, holding a “celebration of agriculture”— complete with a gold-coloured tractor on the White House lawn — in March.Crop insurance coverage was expanded as part of Trump’s One Big Beautiful Bill, and the administration has also pointed to US$30 billion in ad hoc assistance since January 2025.Cordt Holub, a fourth generation Iowa farmer who grows corn and soybeans, sat next to Trump when he announced the US$12 billion in farm aid last year. Pressures from high costs to run farms and comparably low crop prices haven’t improved, he said.“If things weren’t affordable then, they’re actually a little less affordable now,” said Holub, who pointed out that in the last few months “corn prices have plummeted,” soybean prices are also down, and fertilizer and seeds are still expensive.While the aid comes amid what Holub called “red flags” in the farm economy, he remained supportive of Trump’s trade efforts. “On the rural front, there’s optimism that if there’s somebody to get it done, it would be him, because he did it before,” Holub said, referencing Trump’s Phase One deal with China during his first administration.Sentiment about current conditions among U.S. farmers recently fell to the lowest levels since Trump returned to office in January 2025, according to the Purdue University and CME Group’s index. Bankruptcies for Midwestern farm operations were up 60 per cent in the first quarter, according to Bloomberg Intelligence.In Florida, freezes earlier this year caused an estimated US$3.1 billion in losses for growers of strawberries, tomatoes, bell peppers and other food products, according to the Florida Department of Agriculture.The request to Congress also included an ask for “an urgent and needed fix that codifies the permanent, year-round sale” of higher-ethanol E15 gasoline, in a nod to corn farmers as they seek new sources of demand.Most conventional gasoline currently sold in the U.S. contains about 10 per cent ethanol, made primarily with corn, with federal limits on fuel volatility generally blocking widespread summertime sales of a higher 15 per cent blend.Trump has repeatedly said he’s in favour of expanding E15 availability, and, like former President Joe Biden, his administration has issued emergency waivers to enable summertime sales. Yet more than a decade of congressional efforts to permanently authorize year-round E15 sales have failed in the face of oil industry opposition.The government aid “is a small Band-Aid for a larger bleed out,” said Nebraska farmer Tim Gregerson. “To stop this larger bleed out, we need E15 year-round passed,” he said. “Give us year-round E15, that will help.”—With assistance from Jennifer A. Dlouhy and John Harney. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.