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S. 1117: Quality Loss Adjustment Improvement for Farmers Act

This bill, titled the Quality Loss Adjustment Improvement for Farmers Act, proposes changes to the Federal Crop Insurance Act to improve how quality loss adjustments are handled for farmers. Here are the key components of the bill:

Periodic Reviews

The bill mandates that starting in 2025, the Corporation responsible for crop insurance will conduct a review of its quality loss adjustment procedures every five years. This review must be completed within one year after it starts. These reviews are intended to ensure that the procedures in place are effective and up-to-date.

Stakeholder Engagement

Each review will involve input from various industry stakeholders, which means that farmers and other local agricultural representatives will have an opportunity to share their perspectives and experiences regarding quality loss adjustments for their specific crops.

Reporting Requirements

After each review, the Corporation is required to submit a report to the Senate Committee on Agriculture, Nutrition, and Forestry and the House Committee on Agriculture, detailing:

  • Findings from the review.
  • Any changes to quality loss adjustment procedures that will be implemented as a result of the review.
  • Details of the stakeholder engagement processes that took place during the review.

Regional Discount Factors for Soybeans

The bill introduces provisions regarding discount factors for soybeans in the event of certain disaster declarations, such as:

  • A disaster declaration by the Secretary of Agriculture.
  • A major disaster declared by the President.
  • An emergency declared by the President.

When such a disaster declaration occurs, the Corporation will create a state or regional discount factor that reflects any quality discounts observed in the local or regional market prices for soybeans. This means that the value of soybean crops will be adjusted based on their quality and market conditions following such events.

Reporting on Discount Factors

Any discount factors established due to the above declarations will also need to be reported as part of the periodic reviews and included in the overall reporting process described earlier.

Summary of Changes

This legislation aims to enhance the quality loss adjustment process by instituting regular reviews, ensuring regional considerations are taken into account, and involving stakeholders in the decision-making process. Additionally, it addresses how quality issues for soybeans will be managed in the context of disaster scenarios.

Relevant Companies

  • DE - Deere & Company: As a major manufacturer of agricultural machinery, any changes in crop insurance policies affecting farmers could influence equipment purchases and leasing.
  • ADM - Archer-Daniels-Midland Company: A significant player in the agricultural sector, ADM may be impacted by the adjustments in soybean pricing and market conditions, which relate directly to their procurement and processing operations.
  • SYY - Sysco Corporation: Changes to the agricultural market dynamics, especially with respect to soybean products, may affect supply chains and pricing strategies.

This is an AI-generated summary of the bill text. There may be mistakes.

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Sponsors

1 sponsor

Actions

2 actions

Date Action
Mar. 25, 2025 Introduced in Senate
Mar. 25, 2025 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Corporate Lobbying

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Potentially Relevant Congressional Stock Trades

Estimated excess return of the underlying stock since the transaction
Politician Stock Transaction Filed Traded
Congress pfp
Jefferson Shreve R / House
SYY logo
SYY SYSCO CORPORATION COMMON STOCK
Sale $15,001 - $50,000
Apr 11, 2025 Mar 05, 2025 +6.16%
Congress pfp
Bruce Westerman R / House
DE logo
DE DEERE & COMPANY COMMON STOCK
Purchase $1,001 - $15,000
Apr 16, 2025 Mar 03, 2025 +6.92%
Congress pfp
Robert Bresnahan R / House
DE logo
DE DEERE & COMPANY COMMON STOCK
Purchase $15,001 - $50,000
Mar 27, 2025 Feb 25, 2025 +4.16%
Congress pfp
Rick W. Allen R / House
DE logo
DE DEERE & COMPANY COMMON STOCK
Sale $1,001 - $15,000
Sep 20, 2024 Aug 14, 2024 +31.87%
Congress pfp
Kathy E. Manning D / House
SYY logo
SYY SYSCO CORPORATION COMMON STOCK
Purchase $1,001 - $15,000
Aug 16, 2024 Jul 02, 2024 +5.72%
Congress pfp
Josh Gottheimer D / House
DE logo
DE DEERE & COMPANY COMMON STOCK
Sale $1,001 - $15,000
Jul 09, 2024 Jun 28, 2024 +24.24%
Congress pfp
Dan Newhouse R / House
DE logo
DE DEERE & COMPANY COMMON STOCK
Purchase $1,001 - $15,000
Apr 25, 2024 Apr 10, 2024 +7.35%
Congress pfp
Josh Gottheimer D / House
DE logo
DE DEERE & COMPANY COMMON STOCK
Sale $1,001 - $15,000
Mar 07, 2024 Feb 01, 2024 +7.22%
Congress pfp
Kathy E. Manning D / House
SYY logo
SYY SYSCO CORPORATION
Purchase $1,001 - $15,000
Feb 06, 2024 Jan 23, 2024 -13.60%
Congress pfp
Kathy E. Manning D / House
SYY logo
SYY SYSCO CORPORATION
Purchase $1,001 - $15,000
Feb 06, 2024 Jan 23, 2024 -13.60%
Congress pfp
Jared Moskowitz D / House
SYY logo
SYY SYSCO CORPORATION
Sale $1,001 - $15,000
Jan 22, 2024 Dec 28, 2023 -12.27%
Congress pfp
Jared Moskowitz D / House
SYY logo
SYY SYSCO CORPORATION
Sale $1,001 - $15,000
Jan 22, 2024 Dec 28, 2023 -12.27%
Congress pfp
John R. Curtis R / House
DE logo
DE DEERE & COMPANY
Sale $1,001 - $15,000
Dec 15, 2023 Dec 04, 2023 +7.25%
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Greg Stanton D / House
DE logo
DE DEERE & COMPANY
Sale $1,001 - $15,000
Nov 09, 2023 Oct 24, 2023 -3.32%
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Markwayne Mullin R / Senate
DE logo
DE Deere & Company Common Stock
Purchase $1,001 - $15,000
Nov 01, 2023 Oct 03, 2023 -3.64%
Congress pfp
Greg Stanton D / House
DE logo
DE DEERE & COMPANY
Purchase $1,001 - $15,000
Nov 09, 2023 Sep 26, 2023 -4.12%
Congress pfp
Markwayne Mullin R / Senate
DE logo
DE Deere & Company
Purchase $15,001 - $50,000
Oct 12, 2023 Sep 13, 2023 -5.53%
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Jared Moskowitz D / House
SYY logo
SYY SYSCO CORPORATION COMMON STOCK
Sale $1,001 - $15,000
Aug 21, 2024 Sep 01, 2023 -14.62%
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Earl Blumenauer D / House
SYY logo
SYY SYSCO CORPORATION
Purchase $1,001 - $15,000
Sep 06, 2023 Aug 24, 2023 -17.88%
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Earl Blumenauer D / House
SYY logo
SYY SYSCO CORPORATION
Purchase $1,001 - $15,000
Sep 06, 2023 Aug 23, 2023 -16.89%
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Daniel S. Goldman D / House
SYY logo
SYY SYSCO CORPORATION
Sale $1,001 - $15,000
Aug 13, 2023 Jul 12, 2023 -20.92%
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Daniel S. Goldman D / House
ADM logo
ADM ARCHER-DANIELS-MIDLAND COMPANY
Sale $50,001 - $100,000
Aug 13, 2023 Jul 12, 2023 -57.35%
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Josh Gottheimer D / House
DE logo
DE DEERE & COMPANY
Sale $1,001 - $15,000
Aug 21, 2023 Jul 07, 2023 -8.56%
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Jonathan L. Jackson D / House
DE logo
DE DEERE & COMPANY
Sale $15,001 - $50,000
Jul 07, 2023 Jun 23, 2023 -9.32%
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John R. Curtis R / House
SYY logo
SYY SYSCO CORPORATION
Sale $1,001 - $15,000
Aug 07, 2023 Jun 21, 2023 -21.81%
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Zoe Lofgren D / House
DE logo
DE UNITEDHEALTH GROUP INCORPORATED COMMON STOCK
Sale $1,001 - $15,000
Jun 06, 2023 May 26, 2023 +1.15%
Congress pfp
Josh Gottheimer D / House
DE logo
DE DEERE & COMPANY
Sale $1,001 - $15,000
Jun 11, 2023 May 19, 2023 -1.48%
Congress pfp
Josh Gottheimer D / House
DE logo
DE DEERE & COMPANY
Sale $1,001 - $15,000
Jun 11, 2023 May 05, 2023 -9.06%