Table 1. Comparison of Crop Prices, Loan Rates and Net Contract Payment Rates, 1996-2002.
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                        1996        1997       1998        1999       2000       2001       2002
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Crop Prices

Corn ($/bu.)            2.70        2.59       2.46        2.41       2.45       2.49       2.56

Wheat ($/bu.)           4.30        3.56       3.30        3.43       3.52       3.66       3.73

Cotton ($/lb.)        0.6930      0.6894     0.6610      0.6606     0.6664     0.6724     0.6789

Sorghum ($/bu.)         2.34        2.30       2.33        2.27       2.34       2.38       2.45

Soybeans ($/bu.)        7.38        6.45       5.98        5.95       5.92       6.08       6.12

Barley ($/bu.)          2.74        2.41       2.34        2.32       2.42       2.43       2.46

Oats ($/bu.)            1.96        1.60       1.60        1.58       1.61       1.63       1.66

Rice ($/cwt.)           9.90        9.68       9.37        9.34       9.34       9.36       9.41

Soybean Meal ($/ton)  258.90      200.35     188.88      187.94     187.20     190.87     195.00

All Hay ($/ton)        93.00       98.87      93.38       92.53      93.54      94.68      95.78

Loan Rates

Corn ($/bu.)            1.89        1.89       1.89        1.89       1.89       1.89       1.89

Wheat ($/bu.)           2.58        2.58       2.58        2.58       2.58       2.58       2.58

Cotton ($/lb.)        0.5192      0.5192     0.5192      0.5192     0.5192     0.5192     0.5192

Sorghum ($/bu.)         1.81        1.74       1.74        1.75       1.75       1.74       1.77

Soybeans ($/bu.)        4.97        5.26       5.26        5.26       5.26       5.21       5.10

Barley ($/bu.)          1.55        1.58       1.54        1.54       1.54       1.54       1.54

Oats ($/bu.)            1.03        1.11       1.11        1.15       1.19       1.25       1.22

Rice ($/cwt.)           6.50        6.50       6.50        6.50       6.50       6.50       6.50

Net Contract Payment Rates

Corn ($/bu.)            0.25        0.28       0.38        0.37       0.33       0.27       0.26

Wheat ($/bu.)           0.52        0.61       0.65        0.63       0.57       0.46       0.45

Cotton ($/lb.)        0.0703      0.0725     0.0772      0.0745     0.0682     0.0553     0.0536

Sorghum ($/bu.)         0.32        0.33       0.44        0.42       0.39       0.31       0.30

Barley ($/bu.)          0.13        0.26       0.27        0.25       0.23       0.23       0.18

Oats ($/bu.)            0.00        0.03       0.03        0.03       0.03       0.02       0.02

Rice ($/cwt.)           2.77        2.73       2.92        2.84       2.60       2.10       2.02
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Source: Food and Agricultural Policy Research Institute (FAPRI) at the University of Missouri-Columbia
and Iowa State University.