Leaders of the House and Senate Agriculture committees hope to roll out their new farm bill Tuesday with an eye to getting it passed by the House and Senate by next week.
The lead negotiators are expressing confidence that the bill will have sufficient support in both the House and Senate.
In an Agri-Pulse Open Mic interview, National Farmers Union President Roger Johnson says his group will support the bill even though it won’t provide as much assistance as farmers need. “It’s a whole lot better than not having a farm bill,” he said.
NFU had called for raising reference prices in the Price Loss Coverage program to provide bigger payments to farmers, but that was never in the cards because of the cost. There will be an escalator clause in the bill to raise reference prices if commodity prices climb significantly higher and stay there for several years.
But the top Democrat on the House Agriculture Committee, Collin Peterson, says the corn price would have to rise to at least $6 a bushel for its reference price to be increased.
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