Source: American Soybean Association

The American Soybean Association last week expressed disappointment in the Obama administration's proposals to cut funding for key farm programs, federal crop insurance and the Market Access Program.

"ASA opposed similar proposals by the administration last year that would have reopened the 2008 farm bill and undercut long-term economic decisions by soybean producers," said ASA President Rob Joslin, a soybean producer from Sidney, Ohio. "They were bad ideas then, and they are bad ideas now. Agriculture spending, not including nutrition programs, is projected to account for just over one-half of one percent of next year's $3.8 trillion budget. Cutting the farm safety net to achieve minimal savings would jeopardize an industry that continues to be a key driver for U.S. economic recovery and export growth."

Original press release.