CENTENNIAL, Colo. — The Agriculture Department recently announced commodity support payments for the 2016/17 crop year at $8 billion. This is in line with program payments made for the 2015 crop year and is above payments made for the 2014 crop year. This announcement follows USDA’s Farm Service Agency announcement of 2016/17 marketing year average prices for corn and soybeans. The wheat marketing year average price was announced at the end of June 2017. The marketing year average prices for corn, soybeans, and wheat were $3.36, $9.47 and $3.89 per bushel, respectively.
Based on these marketing year average prices, USDA recently released county-level Agriculture Risk Coverage-County Option program payment data for major field crops including corn, soybeans, and wheat. The information provided demonstrates how ARC-CO helps growers manage revenue risk by making program payments based on an average revenue guarantee – protecting both prices and yields.
— Colorado Farm Bureau
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