Table 2.  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.)                   2.75     2.37     2.36     2.42     2.44     2.55     2.61

Wheat ($/bu.)                  4.30     3.38     3.30     3.63     3.63     3.78     3.78

Cotton ($/lb.)               0.7133   0.6650   0.6458   0.6499   0.6667   0.6803   0.6857

Sorghum ($/bu.)                2.33     2.28     2.25     2.32     2.38     2.47     2.52

Soybeans ($/bu.)               6.85     6.23     5.83     5.80     5.92     5.98     6.08

Barley ($/bu.)                 2.71     2.36     2.25     2.31     2.39     2.44     2.43

Oats ($/bu.)                   1.93     1.52     1.36     1.38     1.39     1.41     1.43

Rice ($/cwt.)                  9.41     8.71     8.64     8.50     8.73     8.81     8.92

Soybean Meal ($/ton)         218.03   196.80   188.13   190.43   194.87   196.70   195.55

All Hay ($/ton)               92.43    86.39    83.56    83.17    82.73    80.60    79.15

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     1.76     1.77     1.78     1.77     1.82

Soybeans ($/bu.)               4.97     5.26     5.26     5.26     5.26     5.09     5.02

Barley ($/bu.)                 1.55     1.58     1.59     1.64     1.66     1.69     1.67

Oats ($/bu.)                   1.03     1.11     1.11     1.12     1.13     1.16     1.10

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

Contract Payment Rates

Corn ($/bu.)                 0.2508   0.2807   0.3762   0.3657   0.3344   0.2717   0.2612

Wheat ($/bu.)                0.5238   0.6126   0.6528   0.6327   0.5725   0.4620   0.4519

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

Sorghum ($/bu.)              0.3233   0.3265   0.4381   0.4172   0.3859   0.3129   0.3024

Barley ($/bu.)               0.1322   0.2595   0.2699   0.2491   0.2284   0.2284   0.1765

Oats ($/bu.)                 0.0000   0.0328   0.0328   0.0328   0.0328   0.0218   0.0218

Rice ($/cwt.)                2.7655   2.7257   2.9247   2.8352   2.5964   2.0990   2.0203
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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),
Cotton-$0.0185/lb. (1996), Sorghum-$0.195/bu. (1997), Barley-$0.20/bu. (1996),
Oats-$0.05/bu. (1996).