ASA Urges Conferees to Accept Senate Soybean Support Provisions and Conclude Farm Bill

April 18, 2002...St. Louis, MO…“The American Soybean Association urges the farm bill Conference to adopt the revised soybean support provisions offered by Senate Agriculture Committee Conferees today, which provide U.S. soybean farmers greater equity with producers of other program crops,” said Bart Ruth, President of the American Soybean Association (ASA).  “ASA calls on House and Senate Conferees to complete this legislation, without further delay, in order to be effective with 2002 crops,” Ruth stated.

Ruth, a soybean and corn producer from Rising City, Nebraska, made his comments after release of the revised Senate proposal, which followed rejection by Senate Democrats of a counteroffer by House Conferees earlier today.   The Senate is proposing a marketing loan rate of $5.04/bu. for soybeans, compared to its previous offer of $5.12/bu. and the latest House proposal of  $4.98/Bu   The proposed Senate target price for soybeans is $5.90/Bu, compared to its previous offer of $6.02/Bu and $5.82/Bu by the House.  The proposed soybean fixed payment declines from $0.60 to $0.40/Bu over five years, up from the range of $0.50 to $0.34/Bu previously proposed by the Senate, and from the $0.42/Bu offered by the House.

“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 said. “The Senate provisions respond to our request 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 offered in the Senate plan is slightly above the midpoint of the levels in both previous Senate and House offers.”

While urging House Conferees to accept the Senate’s revised soybean support provisions, Ruth expressed ASA’s support for the payment limitation provisions in the latest House proposal. The soybean leader concluded that, “House and Senate Conferees must complete action quickly to ensure the final bill can be implemented for 2002 crops. The bulk of U.S. corn and soybean planting will take place within the next few weeks, and harvest of some crops in the South is only weeks away as well. The need to conclude the farm bill conference is urgent.”

For more information contact:
Bart Ruth, 402-542-2181, bdruth@alltel.net
John Gordley, ASA Washington Representative, 202-969-7040, mailto:jgordley@gordley.com
Bob Callanan, Communications Director, bcallanan@soy.org 314-754-1291
American Soybean Association
12125 Woodcrest Executive Drive, Suite 100, St. Louis, MO 63141
Phone: 314-576-1770, Fax: 314-576-2786