I’m looking forward to hearing more about the Commission’s efforts to harmonize its rules with foreign regulators, create margin rules as a protection in the un-cleared swaps market, address cybersecurity and automated trading, and improve data collection.

The topic of today’s hearing is very timely, given what’s happening across the countryside right now. Commodity prices have fallen, and will likely continue to fall, and land values continue to increase. This has a lot of farmers asking if they will have access to the financing they need for the next planting season.

The Administration deserves credit for listening to our concerns and now needs to immediately start work on the numbers and get the program back on track.

A strong agriculture sector and stable food supply is critical to national security. And agriculture has an important role to play when it comes to our country’s national security interests, something I don’t think a lot of people really understand.

There are a lot of interesting things happening with big data and agriculture. These all have the potential to provide huge benefits to not just farmers, but consumers, and the economy as a whole.

I'm pleased that we can follow up on what I thought was a good discussion in June. As I said then, I think we need to keep a close eye on how other countries subsidize agriculture. This is especially important to keep in mind during our debates on the farm safety net. We need a level playing field if we are going to be competitive in a global market.

I support removing restrictions on the export of crude oil from the United States and urge my colleagues to vote in support of H.R. 702.

Given that USDA and HHS are still reviewing comments, we’re probably getting ahead of ourselves here. But I do hope that today’s testimony can shed more light on the process to establish new guidelines and what they will actually mean for our constituents.

The bill and proposed amendments before us will provide legal certainty to end users using the swaps market to hedge legitimate business risks. As we all know, end users had nothing to do with the financial crisis and should not be regulated as such.

We are focusing on stakeholder perspectives today and I think the groups before us should all be commended for the work that they do around the globe. The partnerships with private organizations, millers and shippers have allowed the United States to deliver more than $80 billion in international food aid since World War II.