You may have heard of some of the teams in the special interest division of the food fight: the Maple Syrup Leafs, the Popcornhuskers, and the Fightin’ Catfish. But as egregious as the specific handouts these teams – er – industries...
The insured price of 2012 corn is the average price during the month of Feb 2012 for the 2012 Dec futures contract. Revenue coverage also looks at the Nov 2012 average for the Dec contract and uses the higher of the two. The current price (July 2012) does not affect the insured price. The 2012 price does not affect any other year's price. The biggest part of the Federal Ag budget covers Food Stamps and other assistance programs.
Watch out! The pork-laden farm bill is coming to the People’s House. Just like in the Senate, the same special interests undermining their competitors and crying foul that someone else is getting a better handout will be out in full force to ensure the House of Representatives keeps the government trough filled to capacity, courtesy of the taxpayers.
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