Soy Growers Urge Protection of Crop Insurance

Soy growers are urging Congress to protect crop insurance and not reopen the 2014 Farm Bill.

In letters sent this week to House and Senate Budget and Appropriations committees and U.S. Department of Agriculture (USDA) Secretary Designate Sonny Perdue, the American Soybean Association (ASA) and several ag organizations underscored the importance of crop insurance to farmers, lenders and all of rural America.

The groups stated the 2014 Farm Bill already made large cuts to the farm safety net and now the Congressional Budget Office (CBO) is projecting crop insurance to come in more than $20 million under budget.

“In these challenging economic times, it is federal crop insurance that offers lenders the assurances they need to continue to provide capital to America’s hard-working farmers and ranchers,” the groups state in the letters.

The groups added that crop insurance allows producers to customize their policies to their individual needs and the 2014 Farm Bill should not be reopened to achieve additional budget savings.

“Moreover, even in the context of the 2018 Farm Bill, cuts to crop insurance during this difficult time for rural America should be avoided,” the groups state in the letters. “Farmers and lawmakers agree that crop insurance is a linchpin of the farm safety net and is crucial to the economic security of rural America.”

Click here to read the letters.