date:Feb 14, 2014
USDA's ten-year price projection for corn released Thursday shows that prices would be below the so-called reference price that would trigger payments to farmers under the farm bill's new Price Loss Coverage. The reference price for corn is $3.70 a bushel. The price in the 2014-15 marketing year, the first covered by the new law, is projected to be $3.65. When the national average prices drops below $3.70, PLC payments would be made on 85% of a farm's historical base acres and on a farm's histo