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In the US, the biggest agricultural production and exporting country, the domestic production always exceeds the domestic demand. Under the this situation, the supply & demand balance and the price & income stabilization has been a long time top proritey challenge in the US. agricultural policy.The US. agricultural policy has evolved in response to the environmental changes in and out of US, but its impacts on the international agriculture and policies has been so huge that sometimes it has brought about strong criticism from abroads.The demand for the agricultural policy reform is also high domestically as well as internationally. But the agricultural policy reform has not made as much progress as expected. What has been hindering the U.S. policy reform? The purpose of this paper is to examine the development and problems of the farm commodity policy in the US. For this purpose, such topics as follows are discussed.(1) to make a brief overview of the transformation process of US. agricultural policy toward the supply & demand balance and the price & income stabilization,(2)to contemplate the domestic and international elements affecting the transformation process of US. agricultural policy, (3)to discuss the domestic elements hindering the US policy reform,(4)to examine the characeristics and problems of the farm commodity policy in the US.