The financial industry has aimed its lobbying efforts at an unusual target: the Senate Agriculture Committee, which is considering legislation to reform the market for derivatives.

Businesses and people affiliated with the financial sector have given Agriculture Committee members about $22.8 million this election cycle -- about twice what the senators have received from the agricultural industry, according to the Center for Responsive Politics.

Sen. Blanche Lincoln (D-Ark.) introduced a bill last week that would restrict banks' ability to directly trade those securities. They contributed to the recent financial crisis after banks invented financial instruments to package high-risk mortgages.

Though the banks typically focus their attention on the banking and financial services committees, the Agriculture Committee became involved in the derivatives issue because of their longtime involvement in futures contracts, which allow farmers to protect against price fluctuations before harvest.

The industry groups that typically lobby the Agriculture Committee, which want stricter regulation of the financial sector, have been put off by the influx of money.

"Of course I'm going to be concerned, because they are big-money companies," said Paul Cicio, president of the Industrial Energy Consumers of America. "I think a lot of members of Congress are just getting up to speed on how these markets work ... but this is incredibly important, and it's important to get it right" (Lichtblau/Wyatt, New York Times, April 19). -- GN