December 15, 2000
Crop insurance market price elections will be used to determine payment rates for the federal crop disaster program. Based on the formula used in recent years, you can assume the payment rate for qualifying 2000-crop disaster payments will be 65 percent of the crop insurance market price election. The payment rate for those without crop insurance will be 60 percent of the market price. Crop disaster payments will most likely be based on yield losses in excess of 35 percent of the normal yield. To figure your payment, multiply the payment rate by your qualifying yield losses times the number of acres in the farm unit. USDA is still working on final rules for the 2000-crop disaster program, so the formula is not yet set in concrete.
Source: Doane's Agricultural Report, Dec. 1, 2000
Don't look for big farm law changes
No major changes in farm policy are likely in 2001. The Republicans
retained a narrow majority in Congress, so the current farm law probably
won't be written until 2002. Congress is likely to approve another round
of emergency payments next year to supplement the regular AMTA payments.
Source: Doane's Agricultural Report, Nov. 10, 2000
Crop, livestock figures predicted
Corn for grain production is forecast at 10.1 billion bushels,
up 7 percent from 1999. Based on Nov. 1 conditions, yields are expected
to average 137.7 bushels per acre, up 3.9 bushels from a year ago. If
realized, this would be the largest production and second largest yield
on record.
All cotton production is forecast at 17.5 million 480-pound bales, up 3 percent from 1999. Lower production forecasts in Texas, Georgia, and Missouri were more than offset by increased production forecasts in Mississippi, Arkansas, Louisiana, North Carolina, Tennessee, and Virginia.
January/October red meat production was 38.6 billion
pounds, 1 percent higher than the comparable figure a year earlier. The
accumulated beef production was 2 percent higher than last year; veal
was down 3 percent; pork was down 2 percent;, and lamb and mutton was
down 4 percent.
Source: NASS, Livestock Slaughter & Crop Production,
Nov. 2000
Monsanto to restrict
biotech corn plantings
Monsanto Company will restrict plantings next year of one type of gene-altered
corn and delay sale of another until 2002 to avoid upsetting export markets.
A variety resistant to Roundup will be distributed for sale next year
only in areas where grain is seldom sold for export. The second is toxic
to the corn rootworm. It is not yet approved in Japan or Europe.
Source: Doane's Agricultural Report, December 1, 2000
