Soybean, corn, sunflower, canola growers press House on farm bill
The groups spoke to a potential amendment from Rep. Bob Gibbs (R-Ohio) that would address their concerns by setting reference prices at a percentage of recent average market prices, which do not exceed production costs. The Gibbs amendment would also provide for payments on historical crop acreage bases rather than on current-year plantings. “These changes would make the PLC program more market-oriented and significantly reduce the risk of distorting planting decisions and production,” argued the groups. “They would also reduce the likelihood of the program violating U.S. commitments under the WTO. Moreover, they would achieve an estimated $10 billion in savings in addition to the Committee bill.”
A full transcript of the letter is available by clicking here.