This is from July of 2007
Agriculture Secretary Mike Johanns on Thursday, announced new results of the recent opportunity given to Conservation Reserve Program (CRP) participants to re-enroll or extend their contracts, which are set to expire between 2007 and 2010. An estimated 23.9 million acres out of 28 million acres of eligible CRP contracts are expected to be re-enrolled. An estimated 4.1 million acres in CRP contracts will exit CRP between 2007 and 2010. Of the 4.1 million acres, approximately 1.4 million acres are located in major corn producing states. "The percentage of landowners choosing to remain in CRP is consistent with what we have seen in the past, despite speculation that re-enrollment would drop significantly due to high corn prices," said Johanns. "We are closely monitoring interest in CRP re-enrollment, planting projections and demand for commodities to determine the most appropriate future actions in administering the Conservation Reserve Program," Johanns said. I think most extensions were 5 year terms. Now that does not mean the Gov. would not step in and allow early outs in the future, but the environmental lobby would most likely have a cow. Not to mention LDPs and Counter Cyclicals cost the taxpayer a boat load more than an national average CRP rate of $44/acre. AGTrader you seem to be biased toward the bearish side and you may very well be right. I would caution you to be careful of finding only information which supports you current positions,I have been there and done that only to be run over by the freight train. Sometimes the softly stated subtle points are much more effective. |