Farm Bill Angst The House and Senate Agriculture Committees are moving closer to an agreed compromise on the farm bill's new commodity, which would accommodate the House side's desire for target prices offset by a reduced Senate shallow loss provision. However, at least one trade policy expert worries that a simple extension of the 2008 Act would be a safer option from an international standpoint. This is because the shift from green box direct payments to amber box insurance subsidies is likely to invite challenge from WTO partners. It remains unclear whether extension of the 2008 Act or the modified House-Senate proposals would be acceptable to Brazil under the cotton case, though it seems unlikely. Food Safety Standards The U.S. has...

TAGS – Softs, Asia, North America