Senate Farm Bill Vote Wednesday.
The U.S. Senate is scheduled to vote on the farm bill Wednesday (5/8) with six hours of debate scheduled to precede that vote. Republicans demanded a lengthy debate of the bill, saying they wanted time to point out its flaws.
At this point, there seems little doubt that the Senate will pass the farm bill. But several Republican senators from farm states have been sharply critical of the compromise bill.
Iowa Republican Charles Grassley has said he is adamantly opposed to the legislation because it does not contain an effective cap on government subsidy payments or a ban on packer ownership of livestock.
Republicans Richard Lugar of Indiana and Conrad Burns of Montana may also vote against it. Lugar has warned that the bill will encourage overproduction and crush market prices for grain. Burns is mad because the bill failed to provide disaster aid for the northern Plains.
Six hours have been reserved for debate of the farm bill Tuesday and Wednesday. A vote will be held when debate ends, Senate Majority Leader Tom Daschle said.
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.