Joco Today

On April 12, 2024, U.S. Senator Roger Marshall, M.D., participated in a discussion with RFD-TV at the 2024 Agricultural Commodity Futures Conference (AgCon) in Overland Park, Kansas. The conference, hosted by the Commodity Futures Trading Commission and Kansas State University, focuses on agribusiness, research opportunities, the farm economy, commodity costs, and the fluctuating futures markets.

Senator Marshall emphasized the significance of risk management tools provided by the Commodity Futures Trading Commission (CFTC) for agricultural producers. He stated, "It is great to have the CFTC here where they’re actually interacting with the producers. They’re so important as far as it goes to overseeing the futures markets, which are vitally important to my producers."

Reflecting on the unpredictable nature of farming, Senator Marshall highlighted the value of utilizing tools like crop insurance, Title One programs, ARC and PLC programs, and the CFTC for risk management. He stressed the importance of educating producers on leveraging these tools to secure operation loans and manage risks effectively.

Furthermore, Senator Marshall expressed his enthusiasm for extending CFTC resources to community banks, ag credit institutions, and Co Ops to enhance understanding and provide better guidance to agricultural stakeholders.

Addressing the challenges facing the agricultural economy, particularly in the current geopolitical climate, Senator Marshall underscored the impact of global conflicts on commodity prices. He emphasized the importance of maintaining peace and stability to safeguard market opportunities for farmers.

Regarding trade agreements and policy decisions, Senator Marshall raised concerns about the Biden Administration's approach, citing the lack of progress in negotiating trade deals and addressing key agricultural issues. He called for a focus on improving trade agreements, supporting farmers, and prioritizing initiatives that benefit the agricultural sector.

In conclusion, Senator Roger Marshall's participation at the AgCon event highlighted the critical role of risk management tools and the need for proactive measures to address challenges facing the agricultural industry.