Farm Bill markup likely will begin soon in both the Senate and House Agricultural committees. Much of the focus for traditional program crops will be around three programs: a revenue program, a target price program, and a supplemental crop insurance program (see here for more detail). While the exact nature of the programs will depend on negotiations, what is almost certain is that the programs’ rationale will be risk management. Given a risk management focus, Farm Bill negotiations will need to debate and somehow resolve the following seven questions.
Question 1: Will support provided to some crops be greater than the support provided strictly by risk management considerations?