Supporting U.S. Agriculture under World Trade Organization Rules
For the fourth straight year, market prices for Midwest crops are low. Central Iowa soybean prices hover around $4.00 per bushel. Corn prices are around $1.80 per bushel, and wheat markets remain stuck at below $3.00 per bushel. What to do about these low prices has occupied a great deal of Congress’s time as it attempts to craft new farm legislation. Nearly all farm bill proposals would continue to provide farmers levels of support much higher than those offered by the market.