On Thursday, June 9th, the U.S. House Agriculture Committee held a hearing to consider the crop insurance and commodity titles of the farm bill. The hearing featured witnesses focused on risk management in farming and how current programs are serving American farmers. Witnesses highlighted changes in economic factors, including commodity prices and input costs, since the completion of the current farm bill in 2018. They also considered the need of supplemental ad-hoc aid through the life of the current farm bill to provide assistance where the farm bill was insufficient. A common theme was that the farm bill requires updates to better reflect the market conditions of today.
Among the witnesses was Dr. Ron Rainey, an economist with the University of Arkansas. He outlined economic conditions facing southern agriculture. Rainey serves as Assistant Vice President of the Division of Agriculture and Center Director for the Southern Risk Management Education Center.