There’s speculation over how the compromise Wall Street/financial reform bill in Congress would affect agriculture, if it passes. Iowa Senator Chuck Grassley says he doesn’t believe it’ll be harmful,
“I don’t think for the family farmer who uses hedging by itself is going to have any negative impact,” said Grassley.
Grassley says the measure won’t erase the volatility of ag futures markets but would likely have a positive impact on the overall marketplace.
“It’s going to take some volatility out of it obviously because we are going to know from day to day through the clearing house how much marketing there is and trading there is in derivatives and we have never known that,” said Grassley.
The unchecked derivatives market is seen as a contributor to the nation’s financial crisis but not everyone wants it highly regulated.
Grassley says he’ll announce later this week how he intends to vote on the financial reform legislation.
Latest: 
