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Farm Bill Delayed, Experts Discuss Crop Insurance, Risk Management

This year's farm bill has been delayed until after the election, but it is exp

The U.S. farming industry generates tens of billions of dollars in revenue annually, and every year, the federal government passes a new bill concerning the nation's agriculture policies. Recently experts gathered at Ohio State University to discuss possible changes in this year's

The U.S. farming industry generates tens of billions of dollars in revenue annually, and every year, the federal government passes a new bill concerning the nation's agriculture policies. Recently experts gathered at Ohio State University to discuss possible changes in this year's legislation.

Though many had expected the farm bill to pass before the end of September, gridlock in Congress has delayed its passage until after the November general election. A stop-gap measure has been enacted that will continue 2012 levels of spending for at least six months, but according to farm policy expert Carl Zulauf who spoke at the OSU event, the situation is nothing to worry about.

"It's more common than not common that the Farm Bill expires before another one is approved," he was quoted as saying by AG Professional.

Whenever it passes, the new legislation is expected to address the rising cost of crop insurance and other risk management issues faced by the agriculture industry. According to Zulauf, crop insurance costs now exceed $5 billion annually. This year's nationwide drought has also brought the issue of crop insurance front and center.