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Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
FSA released final 2014 MYA for most of the major Midwest crops last week and as expected, none of these crops will qualify for a 2014 PLC payment. Corn ended at $3.70 per bushel which is exactly equal to the statutory reference price of $3.70. Soybeans ended at $10.10 which is $1.70 higher than the $8.40 reference price and sorghum ended at $4.03 which was 8 cents higher than the $3.95 reference price.
When you see nice round numbers such as $3.70, you sometimes wonder how accurate this number is. Was the real number closer to $3.66 and USDA just elected to round it up to $3.70. We will never know. The bottom line so far is that none of the crops with final prices will receive any PLC payments for the 2014 crop year other than peanuts which will receive a 4.75 cent per pound payment. The only remaining crops with projected PLC payments are:
We are still waiting for final yields to be released. In prior years these yields were released much earlier in the year. Rumors are the yields are delayed to account for sequestering issues and other budget considerations.
Here is a report from FSA showing the final and projected MYA prices for all covered crops.
Question is, Why do you jump thru these parasites hoops? No helping hand from USDA, all about control and protecting Elites "money" .
Time to do away with the USDA. They are nothing but deadbeats that manipulate grain prices downward in an attempt to ruin American agriculture.
I have said for several years that we let the government pay us to control our land. Now they took away the payment and still control our land. It's what we do in hopes of getting more money. I just hope the farmers that use the government payment in their cash flow to justify paying high cash rent loose even more money this year.