Lot No. LOT-6650 · offered October 12, 2026

Agricultural PolicyLot sheet

Cotton, Shoffner and Wadlin Press Case for New U.S. Farm Bill

Sen. Tom Cotton, Arkansas Farm Bureau's Andy Shoffner and Wadlin argue U.S. agriculture needs a new farm bill, not another extension, as program reference prices lag input costs.

Market notes

  • Sen. Tom Cotton, Andy Shoffner and Wadlin have publicly weighed in on the need for a new U.S. farm bill, 5newsonline.com reports.
  • The call comes as U.S. farm policy continues to run on extensions of the 2018 farm bill rather than new five-year legislation.
  • The three voices argue updated commodity programs are needed because current support parameters lag modern production costs.
  • Arkansas, a major cotton, rice and soybean state, depends heavily on the commodity title a new farm bill would rewrite.

Sen. Tom Cotton, Arkansas Farm Bureau President Andy Shoffner and economist John Anderson—identified in the report as Wadlin among those weighing in—have all made the case that American agriculture needs a new farm bill rather than another stopgap extension, according to 5newsonline.com.

The three spoke to the practical stakes for growers: commodity support programs written under the 2018 law reference prices that no longer cover today's production costs, leaving row-crop margins exposed when market prices fall below the cost of inputs such as fertilizer, seed and crop protection chemicals.

What does the current standoff change for growers?

For practitioners, the absence of a new five-year bill means operating without an updated safety net. Reference prices (the price levels at which commodity programs trigger payments) and commodity loan rates remain fixed at levels set years ago, even though input inflation has moved sharply since then.

A short-term extension keeps programs running, but it freezes the formulas. Growers planning crop mixes, financing and hedging for the next season cannot count on stronger support levels that a new bill might set.

Who said what

The report describes a shared argument: the sector needs the certainty of full legislation, not repeated patches. Cotton brings the Senate perspective on the legislative timeline; Shoffner represents the state's producer membership; the third voice adds the analytical case for why current law no longer matches farm economics.

Arkansas matters here as a leading producer of cotton, rice and soybeans—crops whose growers depend heavily on the commodity title and crop insurance provisions that a farm bill reauthorizes.

Why the timeline matters

Congress has already stretched the 2018 farm bill well past its original expiration through successive extensions. Each delay pushes any new reference prices, conservation funding and insurance improvements further out, while growers face the same cost structure under old program parameters.

For input buyers and lenders, the uncertainty is itself a variable: financing decisions for the coming season rest on program rules that could change mid-year if a new bill finally moves.

The debate these three voices have joined comes down to whether lawmakers can complete a full bill in the current window—or whether producers will plan another season under rules written for a cost structure that no longer exists.

via Google News: Farm bill and ag policy (Source)

Filed under

  • farm-bill
  • reference-prices
  • crop-insurance
  • commodity-support
  • arkansas
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Rebecca Stone

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Market editor covering people, launches and day-to-day practice in Agribusiness coverage for industry professionals at Agribusiness Wire.

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