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Hoeven says CCC funds will get replenished

Some in the ag industry have expressed concern that funds for the USDA’s Commodity Credit Corporation weren’t replenished in U.S. House-passed continuing resolution. 

But John Hoeven, chairman of the Senate Ag Appropriations Subcommittee, says he’s not worried and it will get replenished at the end of the (fiscal) year. 

“If you look at a cash flow month-by-month it gets down as $4 to $5 billion out of the $30 billion. We’re looking right now to figure out for anything we’d need to do, like with the Market Facilitation Program to support tariffs, timing the cash flow so we can determine what we need and accomplish it.”

The CCC is available to the ag secretary to implement programs, including ad-hoc trade relief, which is expected if the trade war impacts ag prices. Hoeven tells Brownfield he’s been talking with Ag Secretary Brooke Rollins about the former MFP.

Hoeven also says he’s optimistic Congress can avoid a government shutdown this week.