With the increasing attention in Washington on income inequality, any focus in the future on what parts of agriculture have money and assets while concurrently receiving large subsidies will create a risk to that dynamic. Farm Subsidy Risk The last time agricultural commodity prices were this low was 2009/10. Moreover, the vast majority of soybean, corn and wheat farmers selected farm bill policy protection under the Agricultural Risk Coverage (ARC) program, a “shallow loss” revenue protection system that has been adjusting downward based on a rolling average of the previous five years of revenue, either at the county or individual farm level. This means that farmers’ income risk grows with every succeeding year in which the market is in...