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Congress Urges Role for USDA in Approval of Farmland Sales to Foreign Buyers

Weekly Market Briefs

By Hil Anderson (hil@hedge-plus.com)

September 28th, 2022 Edition

 

The ongoing alarm over security at the proposed Fufeng Group corn mill in North Dakota has a group of lawmakers in Washington urging a larger role for the USDA in overseeing rural land purchases by foreign buyers.

More than 50 Republican members of the House of Representatives sent a letter this week to the USDA and to the secretaries of Defense and the Treasury warning that China and other adversarial nations could be using the Fufeng project and other seemingly innocent purchases of U.S. farmland to spy on nearby military bases. The letter also raised the possibility that similar real-estate deals could pose an unspecified threat to the nation’s food supply.

“Acquisitions of this magnitude pose a threat not only to our national security but also to our food security,” said the letter, which was written by Rep. Carlos Gimenez, R-Fla., the ranking Republican on the House Committee on Homeland Security.

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