Agriculture panel leaders reach deal for extending farm bill

Top leaders on both the Senate and House Agriculture committees announced a deal on Sunday to extend the 2008 farm bill by a year, a deal that could avoid a surge in market prices for milk and other commodities.

The measure, which still has to be approved by votes in both chambers of Congress, would give lawmakers another year to iron out a long-term deal. The 2008 farm bill expired on Sept. 30, but a failure to have a law in place would have its biggest impact on the agricultural sector next year beginning with milk.