Table 6.  Implications of the 1996 Farm Bill and the January 1998 FAPRI Baseline on the Economic Viability of
Representative Farms Primarily Producing Wheat
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                       WAW1500   WAW4250   NDW1760   NDW4600   KSSC1495  KSSC3080  KSNW2325  KSNW4300  COW2700   COW4000
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Annual % Change in Real Net Worth (%)
1997-2002 Average        2.16      5.23      3.14      3.65     -1.12      4.47      4.37      2.98      5.31      4.05

Net Income Adjustment (NIA)
1997-2002 ($1,000)     -24.30   -251.39    -16.99   -103.20      5.08    -48.06    -51.66    -54.23    -65.43    -73.78

Net Income Adjustment (NIA)
1997-2002 (% Receipt    -6.38    -25.00     -6.79    -13.43      3.30    -12.36    -21.06    -12.16    -32.18    -21.97

Cost to Receipts Ratio (%)
1997-2002 Average       78.16     62.68     76.18     75.39     83.24     68.68     61.36     75.26     48.05     59.50

Govt Payments/Receipts (%)
1997-2002 Average        5.86      5.70      7.59      6.76     13.48     11.73      9.66     10.24      8.71      8.96

Total Cash Receipts ($1000)
               1997    353.40    940.12    257.23    780.35    152.19    382.20    292.14    439.02    211.82    335.88
               1998    368.17    983.12    247.72    747.84    152.34    383.92    259.57    437.57    205.58    329.94
               1999    373.85    983.95    250.67    757.96    152.32    386.93    223.35    442.42    205.02    329.72
               2000    392.54   1031.35    256.34    775.91    155.68    395.54    235.52    451.54    211.59    340.21
               2001    394.10   1038.13    257.18    780.20    154.37    393.26    233.88    448.19    210.52    338.26
               2002    403.27   1056.79    262.50    797.50    155.85    391.79    231.53    457.09    211.67    340.81
1997-2002 Average      380.89   1005.58    255.27    773.30    153.79    388.94    246.00    445.97    209.37    335.80

Net Cash Farm Income ($1000)
               1997     79.70    333.89     79.29    247.12     39.40    126.35    122.31    121.75    110.95    142.51
               1998     86.63    383.29     69.75    219.90     34.38    131.55    106.74    123.84    104.78    136.64
               1999     90.74    378.98     72.22    232.14     29.84    133.95     96.06    129.72    107.49    137.89
               2000    103.64    426.75     79.47    250.46     32.46    143.60    104.64    132.30    114.70    149.11
               2001     96.17    423.93     80.76    248.40     28.41    140.69    102.71    121.72    116.59    146.83
               2002    104.33    440.73     85.18    261.25     27.65    135.83    100.84    122.52    118.75    150.68
1997-2002 Average       93.54    397.93     77.78    243.21     32.02    135.33    105.55    125.31    112.21    143.94

Prob. of a Cash Flow Deficit (%)
               1997        59        34        42        39        64        46        39        41        18        19
               1998        58        20        52        47        80        48        42        45        29        21
               1999        63        27        47        55        88        57        45        40        40        34
               2000        69        24        61        42        89        58        25        62        35        19
               2001        74        30        64        43        95        47        46        42        14        27
               2002        65        27        60        44        96        50        51        60        19        34

Ending Cash Reserves ($1,000)
               1997     49.18    341.49     68.08    224.74     12.12     94.82     79.87     93.75     78.39    134.88
               1998     60.99    480.37     73.96    254.90    -10.97    116.01    105.89    126.57    100.50    175.56
               1999     68.18    603.65     85.50    285.90    -33.71    127.64    124.05    158.64    121.44    205.04
               2000     67.33    743.04     95.66    354.21    -59.23    154.83    157.04    174.06    144.27    257.79
               2001     59.05    860.06     98.21    411.15    -95.56    183.91    175.83    200.21    182.31    298.34
               2002     58.81   1000.91    111.25    473.06   -132.30    211.11    192.68    207.50    218.40    336.28
1997-2002 Average       60.59    671.59     88.78    333.99    -53.28    148.05    139.23    160.12    140.89    234.65

Prob. of Refinancing Deficits (%)
               1997        24         0        21        14        41        14        16        14         2         1
               1998        24         0        22        17        57        18        11        16         2         1
               1999        24         0        22        15        70        16         9        10         3         1
               2000        28         0        22        12        79        12         9        11         2         0
               2001        31         0        27        10        83        16         7        10         1         0
               2002        34         0        23        10        88        16         9        11         0         1

Nominal Net Worth ($1000)
               1997   1048.68   2951.57    487.22   1761.72    394.62    776.47    900.17   1174.52    885.34   1283.33
               1998   1102.96   3226.69    515.04   1873.79    404.68    833.65    968.23   1253.76    959.66   1377.66
               1999   1169.46   3510.07    548.60   2005.38    411.86    899.61   1044.16   1349.27   1044.69   1483.36
               2000   1227.94   3792.21    579.76   2120.82    417.52    960.20   1105.39   1417.81   1119.97   1576.41
               2001   1270.12   4046.57    605.34   2232.41    415.36   1023.01   1160.83   1465.34   1204.28   1658.69
               2002   1312.49   4292.10    630.89   2349.90    408.86   1077.96   1203.66   1500.12   1266.14   1735.23
1997-2002 Average     1188.61   3636.54    561.14   2057.34    408.82    928.48   1063.74   1360.14   1080.01   1519.11

Prob. of Losing Real Net Worth (%)
               1997        26         2        31        27        42        28        10        20         0         2
               1998        22         0        35        25        44        24         7        11         0         2
               1999        15         0        28        17        48         9         1         8         0         0
               2000        15         0        27        13        51         7         0         4         0         0
               2001        11         0        21        13        61         4         0         4         0         0
               2002        12         0        20         9        66         5         1         6         0         0
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