Babcock, Bruce Alan; Hayes, Dermot; Kaus, Phillip - Center for Agricultural and Rural Development (CARD), … - 1998
As part of the Loan Deficiency Payment (LDP) program, when a county's posted county price (PCP) falls below the county's loan rate, the U.S. Department of Agriculture agrees to pay the producer the difference between the two. Because 1998 corn and soybean prices have fallen below the loan rate...