FarmPolicy

Senate Farm Bill- Reaction to Comm. Markup Continues

Philip Brasher reported in yesterday’s Des Moines Register that, “The Senate Agriculture Committee approved a farm bill Thursday that offers growers a new subsidy program designed to protect farm revenue in an era of higher crop prices.

“The optional program is a top priority for Midwest corn growers, who stand to get little from traditional crop subsidies that pay farmers when commodity prices fall but not when crops fail. The ethanol boom has kept commodity prices well above subsidy levels.”

(The Associated Press reported yesterday that, “Agriculture futures mostly rose Friday on the Chicago Board of Trade, as corn and soybean prices advanced. [W]heat for December delivery dipped 2 cents to close at $8 a bushel; December corn rose 5.75 cents to $3.72 a bushel; January soybeans rose 0.75 cent to $10.1325 a bushel.”)

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Posted by Keith Good • October, 27, 2007 • 7:53 am

Sen. Durbin on Farm Bill Markup

Ag Policy Soup, the FarmPolicy.com podcast has been updated.

Earlier this week, Illinois Senator Richard Durbin (D) joined Todd Gleason of the University of Illinois Extension Service to discuss the markup proposal of the 2007 Farm Bill that passed the Senate Agriculture Committee on Thursday.

In particular, Sen. Durbin focused on issues regarding an amendment offered during the Committee debate by Sen. Pat Roberts (R-Kansas) which altered the Average Crop Revenue (ACR) program. Sen. Durbin indicated that, “I go into this debate believing that my good friend Senator Roberts has taken a roller brush to a Rembrandt. We had a pretty good piece of legislation and the crop insurance industry didn’t like it and made some changes in it.”

Click here for complete audio details.

Keith Good

Posted by Keith Good • October, 27, 2007 • 3:04 am