Commodity Programs: Impact of Support Provisions on Selected Commodity Prices
DIANE Publishing, Jun 1, 1997 - 52 pages
Addresses questions that are concerned with how remaining support provisions affect U.S. commodity prices in comparison with world prices: (1) Do marketing loan provisions prevent loan rates from acting as price floors and do they allow U.S. prices to fall to levels that are closer to world prices? (2) What effect would lower loan rates have on the relationship between U.S. and world prices? (3) How would a lower loan rate affect step 2 payments for cotton exports and what impact have recent changes in the timing of payments had on the program's effectiveness? (4) What steps could make the peanut and sugar programs more market-oriented?
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additional peanuts adjusted world price agricultural economists alternative repayment rates buyers cents per pound commodities under loan cotton and rice crop year 1994 Detailed Analyses downward effect effect on U.S. exporters Farm Service Agency feedgrains flaxseed forfeitures government-paid storage higher than adjusted higher U.S. prices loan deficiency payments lower loan rates lower U.S. prices lowering the loan market conditions market factors market price marketing loan benefits marketing loan gains marketing loan provisions national poundage quota nonrecourse loans oilseeds option value peanut and sugar peanut program peanut quota percent posted county price premium price prevent the loan price data price floors price in Northern price of U.S. price support Prices for Cotton producers receive program features Provisions on U.S. quantity of peanuts quota support price rates from serving raw cane sugar reduce U.S. serving as price step 2 payments storage costs sugar program tariff-rate import quota U.S. prices higher usda's wheat
Page 12 - Program: Changes Are Needed to Make the Program Responsive to Market Forces (GAO/RCED-93-18, Feb. 8, 1993) relates to additional areas of GAO concern.
Page 23 - Director, Office of Management and Budget; and other interested parties. We will also make copies available to others upon request.
Page 23 - August 1996 in accordance with generally accepted government auditing standards. A detailed discussion of our scope and methodology...
Page 3 - Sugar Program: Changing Domestic and International Conditions Require Program Changes (GAO/RCED-93-84, Apr. 16, 1993) relates to additional areas of GAO concern.
Page 13 - ... Congress in 1934 to institute a program to control the domestic supply of peanuts and protect producers' incomes. Although the peanut program has been amended several times, the program continues to control the domestic supply — now, through a national poundage quota system and restrictions on imports. Generally, only producers holding a portion of the assigned quota may sell their peanuts domestically (as quota peanuts), while producers without quota must export theirs (as additional peanuts)....
Page 13 - buy-back," additional peanuts, which are usually exported or crushed for oil and meal at prices lower than the quota support price, can be purchased for use in the domestic market if US prices start to rise significantly.