Yes. I would say that we have seen in recent years, and very acutely in the last five years or so, this mounting increase in geopolitical instability, creating a new set of risks for farmers, whether it's due to market closures, lost market access or non-tariff barriers to trade that create a new set of dynamics that were not there at the time. When these programs were designed, trade compliance at the WTO and countervail risk loomed very large. I think we have seen, in some respects, a move away from rules-based trade, which creates increased risk but also increased opportunity to potentially explore programs that can respond to that in a way that wasn't the case 20 years ago.
Similarly, the extremity and frequency of climate events have fundamentally changed. The idea that we now have 100-year events happening subsequently, year after year, is the new norm. I think programs like AgriStability, where you see a reference margin erode over that period and lose the ability to get support, highlight some of the reasons we need to take a closer look at the current risk landscape.
