date:Feb 14, 2014
rical yields, which farmers can update under the new law.
In the following years, USDA sees prices dropping quite a bit below that reference price, bottoming out at 3.30 a bushel in 2015-16 and staying below $3.70 a bushel for the life of the farm bill. Corn would be at $3.60 a bushel in the 2018-19 marketing year, if USDA's projection turns out to be an accurate forecast.
USDA's projection for soybean prices doesn't show them dropping below the PLC reference price of $8.40 a bushel. After bot