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.
Lucas Statement on Sommers Departure
Tamara Hinton, 202.225.0184
WASHINGTON – Today, Chairman Frank Lucas released the following statement in response to the announcement by the Commodity Futures Trading Commission (CFTC) that Commissioner Jill Sommers will be leaving the agency this year.
"Jill Sommers has been a voice of reason during a pivotal time in CFTC’s history and I am grateful for her service. She has advocated for a balanced approach to regulatory reform in the U.S. that is reasonable, thoughtful, and not disruptive to global markets. I appreciate her leadership in investigating the failure of MF Global and hope the Commission will continue her efforts when she leaves. And, her work as Chairman of the agency’s Global Markets Advisory Committee has highlighted the importance of the U.S. coordinating its reforms with the global community.
"In short, Jill is a friend of agriculture. Although I wish her well in all of her future endeavors, I can say with certainty she will be missed."