February 25, 2020

Farm Bill Issues; Ag Economy; Dairy Issue; and Biofuels

Farm Bill: New Proposals

A news release yesterday from the American Soybean Association stated that, “The American Soybean Association today released its proposal for the 2012 Farm Bill, ‘Risk Management for America’s Farmers.’ ‘This proposal will help farmers manage the risks they face from adverse weather, crop disease, and volatile commodity markets,’ stated ASA President Alan Kemper, a soybean producer from Lafayette, Ind. ‘ASA believes the current farm program safety net can be made more effective, efficient, and defensible by reallocating baseline funding to this revenue-based program that improves risk management and complements crop insurance,’ Kemper added. Because the proposal would replace current farm programs, this proposal would also result in savings that help agriculture contribute its fair share to deficit reduction.

“The ‘Risk Management for America’s Farmers’ program, or ‘RMAF,’ would partially protect revenue losses by farmers of soybeans and other program commodities that result from low prices or reduced yields for their crops. The program would establish commodity-specific revenue benchmarks for individual farmers based on historical yields and prices, and compensate them for part of the difference when current-year revenue for a commodity on their farm falls below a percentage of the benchmark. All planted and prevented planted acres would be covered under the plan. The program would complement the existing crop insurance program used by most farmers, which ASA strongly supports and believes should be continued.”