“The farm bill proposal offered by Conferees from the House Agriculture Committee today does not provide U.S. soybean farmers equity with producers of other program crops,” said Bart Ruth, President of the American Soybean Association (ASA). “ASA appreciates the sincere efforts of both House and Senate Conferees to complete this legislation in time to be effective with 2002 crops,” Ruth stated. “We call on Conferees to continue working in order to reach a compromise that is both fair and balanced for producers of all crops.”

Ruth, a soybean and corn producer from Rising City, Nebraska, made his comments after release of details of the latest House plan at a meeting of the full House-Senate Conference Committee. The commodities title proposes a marketing loan rate of $4.98/bu. for soybeans, compared to the previous offers of $4.97/Bu by the House and $5.12/Bu by the Senate. The proposed House target price for soybeans is $5.82/Bu, compared to previous offers of $5.76/Bu by the House and $6.02/Bu by the Senate. The proposed fixed payment is $0.42/Bu, the same as in the previous House offer and the midpoint of the declining scale of payments provided in the latest Senate proposal.

“ASA has made clear throughout the farm bill process that we are flexible on the level of each of the three support programs as long as soybeans are treated equitably with other crops,” Ruth continued. “We have clearly stated that the fixed payment for soybeans should be set at a higher level if our current loan rate is reduced.” Ruth added that, “The soybean target price and loan rate offered in the House plan are below the midpoint of the levels in both previous offers.”

While urging House Conferees to make further changes in the House’s commodity title proposal to treat soybean farmers equitably, Ruth expressed ASA’s support for the payment limitation provisions in the latest House proposal. The soybean leader concluded, “We urge House and Senate Conferees to continue their efforts to reach a final bill that can be implemented for 2002 crops.”