WASHINGTON -- Legislation that will help protect agricultural lenders against the risk of crop failure was approved by the Senate last week.

The Senate-passed bill attempts to replace the current system of ad hoc disaster relief with low-cost federal crop insurance. Under the bill, farmers must purchase insurance in order to qualify for agricultural subsidies.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.