Posted by Gerald J. on April 18, 2008 at 11:54:34 from (4.254.66.182):
In Reply to: LDP progam posted by Dandy Don on April 18, 2008 at 11:40:10:
If the market price in your county is below the county's target price, you can be paid a Loan Defficiency Payment equal to the difference on all grain that you own. You can apply earlier for grain to be sold out of the field and you get the LDP of the day of harvest. So LDP program sets a minimum county price. The market and target prices are set by a committee in your county, not necessarily based on CBOT and local elevators. It is possible to have contracted grain for a higher price than the county target, yet to collect LDP on the price of the day, not based on what you contracted for.
In 2005 I contracted corn at mid summer for $2.14. LDP price $1.95. On the day I delivered my corn the county market price was $1.45. So I got 50 cents LDP and a cash price of $2.64 for that corn. It usually hadn't worked that good. Maybe a dime a bushel up based on daily variations.
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