The U.S. government is considering establishing the 2002 soybean loan rate
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Last Update: 2002-01-07
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Source: Internet
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Author: User
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Introduction: for American farmers, the most concerned is the loan rate in 2002, among which the soybean loan rate is the most worrying The central question of concern is: will the USDA reduce the soybean loan rate below the level of $5.26 per bushel that has been in effect since 1997? This fact has become a hot topic in American politics Some USDA officials and agricultural economists believe that the loan rate of soybean is obviously too high compared with corn and wheat, which leads to the annual increase of soybean production But the opposite view, the soybean growers' group and some politicians in the Bush administration, is that the current soybean loan rate should be maintained On Tuesday, sparks told subscribers that USDA Secretary Ann Veneman expects to release loan rates for soybeans soon Some USDA officials believe that the soybean loan rate should be reduced to US $5.09 If the current soybean loan rate rules are followed, the theoretical minimum soybean loan rate can be reduced to US $4.92 Sparks suggests that the government may be waiting to see if Congress can pass an agriculture bill in time to include 2002 crops According to the new agriculture bill, the house of Representatives approved the soybean loan subsidy rate at 4.92 US dollars (including the direct subsidy of 42 cents per bushel), and the Senate's dashchle Harkin version proposed the agricultural loan rate at 5.20 US dollars, including the direct subsidy of 55 US cents per bushel.
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