Table 3. Projected Fixed Payment Rates (Net of 1995 Deficiency Repayments) and Loan Rates
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1996 1997 1998 1999 2000 2001 2002
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Net Fixed Payment Rates
Corn ($/bu.) 0.2654 0.3088 0.3972 0.3832 0.3506 0.2823 0.2739
Wheat ($/bu.) 0.5636 0.6501 0.6883 0.6649 0.6088 0.4901 0.4756
Cotton ($/lb.) 0.0744 0.0764 0.0813 0.0785 0.0719 0.0578 0.0561
Sorghum ($/bu.) 0.1799 0.1891 0.2467 0.2374 0.2169 0.1747 0.1695
Barley ($/bu.) 0.1420 0.2815 0.2906 0.2790 0.2542 0.2046 0.1986
Oats ($/bu.) 0.0000 0.0398 0.0419 0.0405 0.0371 0.0298 0.0289
Rice ($/cwt.) 2.7869 2.7445 2.9522 2.8536 2.6169 2.1166 2.0556
Loan Rates
Corn ($/bu.) 1.89 1.89 1.89 1.89 1.89 1.89 1.87
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 ($/bu.) 1.80 1.80 1.80 1.80 1.80 1.80 1.78
Soybeans ($/bu.) 4.97 5.23 5.26 5.24 5.24 4.97 4.92
Barley ($/bu.) 1.54 1.54 1.54 1.54 1.54 1.54 1.52
Oats ($/bu.) 0.97 0.97 0.97 0.97 0.97 0.97 0.96
Rice ($/cwt.) 6.50 6.50 6.50 6.50 6.50 6.50 6.50
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Source: Food and Agricultural Policy Research Institute (FAPRI) at the University
of Missouri-Columbia and Iowa State University. The deficiency repayment rates are:
Corn-$0.20/bu.(1997), Wheat-$0.35/bu. (1996), Sorghum-$0.195/bu. (1997), Barley-$0.20/bu.
(1996), Oats-$0.05/bu. (1996).