Washington (Platts)--28Apr2008

Key negotiators on US Senate-House of Representatives conference
committee have tentatively worked out a core farm bill that contains
provisions to boost the US Commodity Futures Trading Commission's oversight of
electronic markets and push development of ethanol and other renewable fuels,
Senator Tom Harkin said Friday.

The Iowa Democrat, who is chairman of both the Senate Committee on
Agriculture, Nutrition and Forestry and the farm bill conference committee,
said negotiators have agreed to a core bill utilizing $10 billion above the
$280 billion in baseline funding.

Specific details and funding still need to be worked through and must
still be ratified by the full conference committee.

The deal will be considered on Monday, when the conference committee
reconvenes, Harkin said.

"Today the principal farm bill negotiators came together to reach a
tentative agreement on the agriculture policy that will make the final farm
bill a strong one," Harkin said in a statement.

Among other items, the bill "invests heavily in renewable energy and will
help bring the promise of cellulosic biofuels to reality by providing grants
and loans to move from corn ethanol to other renewable feedstocks," Harkin
added.

--Jessica Marron, jessica_marron@platts.com