The Hagstrom Report

Agriculture News As It Happens

Prices too high for countercyclical payments

Prices were too high for the Agriculture Department to issue countercyclical payments on a range of commodities and peanuts in 2010 and for rice in 2009, USDA Farm Service Agency Administrator Jonathan Coppess announced today.

Coppess said USDA will not issue partial 2010-crop countercyclical payments to producers of wheat, corn, grain sorghum, barley, oats, upland cotton, long grain rice, medium grain rice, soybeans, sunflower seed, rapeseed, canola, safflower, flaxseed, mustard seed, crambe, sesame seed, dry peas, lentils, small chickpeas, large chickpeas, and peanuts.

In addition, USDA announced it will not issue final 2009-crop countercyclical payments for long grain rice and medium grain (including short grain) rice because their average market prices exceeded levels that would trigger these payments.