Agriculture

Farmers could face tough 2014

The outlook for global agriculture is darkening in 2014 after a record year this year.

The Financial Times reports that falling grain prices and a retreat on the renewable fuels mandate in the United States has farmers worried.

Corn price drops are leading the trend. 

The dim outlook comes as Congress is struggling to finish a bill guaranteeing farm subsidies for five years.

Falling grain prices could balloon the cost of the target-priced based subsidies in the farm bill, budget hawks have warned.