Deciphering the Farm Bill
Deciphering the Farm Bill. I'm Greg Martin with today's Line On Agriculture.
So now that the farm bill has been signed there are a lot of folks scratching their heads wondering what to do now. Chris Clayton, DTN Ag Policy Analyst says farmers will have to make a choice.
CLAYTON: Particularly I think for commodity producers they're going to have to spend some time and understand how these commodity programs are going to work for them now because you're going to have to make a decision this year on a commodity program. Whether you want a target price program or a program that protects your revenue to a certain extent.
There are also options for the options.
CLAYTON: You have this option if you pick the target one program you get to buy an insurance policy next year that you otherwise wouldn't get a chance if you picked the first program. So you have to walk through these decisions later this year on picking a commodity program and that is going to effect decision that you make for the rest of this farm bill on crop insurance.
It will lock that decision in for the remainder of the five year bill. But no one knows yet what the rules for these programs will be yet.
CLAYTON: USDA is going to have to write a lot of rules on explaining how some of these situations are going to work.
Tomorrow we will talk more with DTN's Chris Clayton on some of the other issues surrounding the 2014 Farm Bill and its implementation.
That's today's Line On Agriculture. I'm Greg Martin on the Ag Information Network.
