Plans To Double LDP Cap Again
The caps on loan deficiency payments and marketing loan gains are likely to be doubled to $150,000 again for fiscal year 2002, as they were the past two years.
Rep. Jo Ann Emerson, R-Mo., told BridgeNews recently that she intends to attach legislation that would raise the caps to the fiscal 2002 agriculture appropriations bill.
Emerson said she was "optimistic" she would be successful in as she was in fiscal 2001. She said House authorizing officials assured her that there was plenty of support for raising the caps.
Editors note: Richard Brock, Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.
To see more market perspectives, visit Brock's Web site at www.brockreport.com.