Why the United States may be over-investing in agribusiness in the face of low oil prices

AUSTIN, Texas — The United States is not over-consuming agricultural commodities and its government could not afford to ignore the global downturn, President Donald Trump said in a Wednesday speech.

Trump said he was convinced that an increase in the supply of agricultural commodities, especially corn and soybeans, was not possible in the near future.

But the U.S. government had to respond to the current climate by “keeping prices low, investing wisely, and buying into the future,” Trump said.

Trump was speaking at the American Farm Bureau Federation conference, where he reiterated the administration’s plan to use the 2017 farm bill to buy back and refinance some farm-equipment stocks.

The Farm Bill would allow for the government to buy up to $7 billion worth of agricultural equipment in 2018.

Trump said the farm bill would provide an economic boost to farmers and the nation’s ranchers by “pushing down prices on the commodity we need to grow our agriculture and our nation.”

Trump’s proposal to buy agricultural equipment has long been part of the Farm Bill.

But last week, the White House said the 2018 farm bill wouldn’t be used for buying agricultural equipment.

Instead, the Farm Bureau would be responsible for selling the equipment to state and local governments.

The Farm Bureau and other industry groups have long pushed the U-turn on buying agricultural products.

The group had warned that the 2017 Farm Bill’s agricultural products provisions could force companies to lay off millions of workers.

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