Farmers think Congress should seek cuts in agricultural spending but protect growers from volatile prices and low yields by retaining a safety net when it writes a new farm law this year, a Reuters survey found.

The random survey of 462 farmers and ranchers at the American Farm Bureau Federation's annual meeting in Honolulu found 39.4% want the current program to continue, with some cuts.

A total of 36.4% of respondents say they would support converting the safety net to a revenue-insurance system.

The current farm law, which entered force in 2008, includes a combination of direct payments to farmers, subsidies triggered by low prices, and government-subsidized crop insurance.

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