Sounds like another Bail
From Uncle is coming.
Another 15% added cash payment for / on top of the PP payment.
Also some more Cash for other classes.
And sounds like IF corn test weight is 49 ( or 47 ) lbs Uncle writes the yield appraisel down by 50% and pays for it too.
Uncle is trying some it seems.
Re: Sounds like another Bail
They should. Last year they reduced our PP limit from 70% to 60% on corn and 65% on beans. For us guys that farm a lot of heavier river bottom soils it is important to have the 70% buy up option but we had that removed last year. Glad they are willing to extend some grace as I have 1,000 acres PP this year because our levee broke May 31.
Re: I thought everything was ....
What, I thought everything was just hunky-dory down on the farm, farmers rolling in dough?
How many million acres of soybeans aren't going to fill pods, to say nothing of even set pods before mid-Oct. It won't matter what the price of soybeans is if you don't make a crop.
How many million acres of wet immature low test weight corn will there be? Anything below 52 lbs/bushel and ethanol plants can't use it even if there was a market for ethanol which there isn't.