Farm Bill Conference Wednesday

The House-Senate conference committee charged with coming up with a compromise farm bill will hold its first formal meeting on Wednesday afternoon, according to a press release from the House Committee on Agriculture.

Staff-level discussions on consolidating the two bills began two weeks ago and have made progress toward a compromise, but none of the major issues, such as crop subsidy rates, have been resolved.

Leaders of the committee still hope to complete work on the compromise bill before Congress leaves on March 22 for a two-week recess, however, it is thought Congress could pass a farm bill as late as mid-April and still have it apply to this year's crop.

"I am convinced we can and must work to have an agreement within reach for the 2002 crop year – and for producers, the need grows more critical each day," says House Agriculture Committee Larry Combest, R-Texas, who will serve as Conference Chairman.

Editors note: Richard Brock, Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.

To see more market perspectives, visit Brock's Web site at www.brockreport.com.