Chairman Frank Lucas issued the following statement welcoming the news that the U.S. Department of Agriculture (USDA) will move forward with implementing the Actual Production History (APH) adjustment for 2015 spring-planted crops. This crop insurance provision in the Agricultural Act of 2014 allows yield adjustments when losses are widespread and beyond the control of producers.
In Case You Missed It: Lucas Calls for Information on MF Global Bankruptcy
Tamara Hinton, 202.225.0184
WASHINGTON – House Agriculture Committee Chairman Frank D. Lucas was interviewed for Bloomberg Television's Street Smart program on tomorrow's hearing on the MF Global Bankruptcy. Lucas emphasized the importance of restoring confidence in the futures markets after customer funds were reported missing. The hearing will give Members of the Agriculture Committee the opportunity to examine the facts surrounding MF Global's collapse, shed light on the current situation, and monitor the investigation into missing customer funds.
The full interview is available here.