FarmPolicy

April 29, 2017

Bloomberg Video: 2014 Corn Surplus Up 164% Vs. 2013

May 10 (Bloomberg) — “Bloomberg’s Alan Bjerga reports on the corn surplus. He speaks with Alix Steel on Bloomberg Television’s ‘Lunch Money.'” (Source: Bloomberg)

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Farm Bill; Appropriations Hearing; Ag Economy; and, EPA

Farm Bill Developments

David Rogers reported yesterday at Politico that, “A new drafted Farm Bill, released by the Senate Agriculture Committee late Thursday [full draft, summary], reflects concessions to powerful pork and beef lobbies as well as an effort to secure Southern Republican votes with target prices for rice and peanut producers.

“The Midwest Corn Belt would retain its costly new Agricultural Risk Coverage program—which was the mainstay of the commodity title approved last summer by the Senate in the last Congress. But the ARC payments have been trimmed back modestly and more importantly, the standard index changed from a five-month average market price to the 12-month average.

“This should reduce the costs to the government based on a typical marketing year. But even more importantly, it will also push ARC payments into the next fiscal year since the average 12-month marketing price for corn, for example, won’t be known until past Sept 30.”

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