The American Soybean Association asked the USDA to announce the soybean loan rate as soon as possible

Introduction: according to the American Soybean Association, it's time for the U.S Department of agriculture to announce the loan rate of soybean crops in 2002 In fact, in a December 18 letter to U.S Agriculture Secretary Veneman, the American Soybean Association said it was time to know the key data The American Soybean Association first asked the United States Department of agriculture to take action on the crop loan rate in 2002 on October 17, 2001 Leaders of the Soybean Association raised the issue again at a meeting of the Ministry of agriculture on October 30th At the time, J.B Penn, the U.S Undersecretary of agriculture, told the soybean association that the U.S Department of agriculture would release the loan rate level in early December But it did not The American Soybean Association strongly called on the Secretary of agriculture to announce the loan rate for 2002, because the new agricultural bill may not replace the 1996 federal Agricultural Reform Act (1996 fair act) before planting soybeans The soybean association also asked the Minister of agriculture to maintain the consistency of the policy of the Ministry of agriculture, keeping the soybean loan rate in 2002 at the current level of $5.26 per bushel in 2001 In a letter to minister wienemann, the American Soybean Association wrote that farmers and those who lend to them need to know the level of safety nets for soybean and other crops in 2002, the last year that the fair act of 1996 will continue to take effect Further delay in the publication will increase uncertainties and lead to more misunderstandings when farmers make planting decisions in the coming weeks Bart Ruth, President of the soybean association from Nebraska, said that because farmers are not sure whether the next farm bill will take effect on crops in 2002, farmers and their borrowers need to know as early as possible what the farm projects will be next year, the last year when the fair bill will take effect When Congress resumes work in 2002, Ruth said, it is likely that an agriculture bill acceptable to the government will be passed soon, which will have an impact on crops in 2002 However, it is also possible that the act will not be completed until the end of next year, which means that the fair act will continue to take effect on crops in 2002 Ruth said that since it has been two months since this issue was raised, the soybean price has been at a historical low, and the Brazilian currency real has depreciated significantly, which continues to distort Brazil's soybean production and trade Therefore, the only protection provided by the current reduction to American soybean farmers is No Timely (author:) share to feed Weibo share to: