1. 1 Wheat, Corn, Sorghum, Cotton Rice & Soybean Kim Anderson Oklahoma State University

2. 2 Wheat

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7. 7 Wheat Summary  Planted/harvested acres lower 62.2/59.6  52.4/50.3  Price trend slightly higher $2.86/$3.09  3.23  Loan rate set @ ~$2.75  Direct payment set @ 52¢  Target price set @ ~$3.92 65¢$3.75

8. 8 Corn

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13. 13 Corn Summary  Planted/harvested acres higher 78.3\78.8  71/71.9  Price trend slightly higher $2.05/$2.14  $2.23  Loan rate set @ ~$1.95  Direct payment set @ 28¢  Target price set @ ~$2.63 40¢$2.52

14. 14 Sorghum

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19. 19 Sorghum Summary  Planted/harvested acres steady 9.5/9.5  8.0/8.3  Price trend slightly higher $1.92/$2.01  $2.09  Loan rate set @ ~$1.90/Bu.  Direct payment set @ 35¢  Target price set @ ~$2.57 32¢$2.47

20. 20 Cotton

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25. 25 Cotton Summary  Planted/harvested acres stable 14.6/14.6  12.6/13.3  Price trend slightly higher 45.10¢/46.64¢  51.4 ¢  Loan rate set @ 52¢  Direct payment set @ 6.67¢  Target price set @ 72.4¢ 13.73¢69.34 ¢

26. 26 Rice

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31. 31 Rice Summary  Planted/harvested acres stable 3.3/3.3  3.3/3.2  Price trend lower but inc. $6.03/$5.18  $5.53  Loan rate set @ $6.50/cwt  Direct payment set @ $2.35/cwt  Target price set @ $10.50 $1.65$9.90

32. 32 Soybeans

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37. 37 Soybean Summary  Planted/harvested acres stable 73.6/73.5  72/72.2  Price trend slightly higher $4.81/$4.95-$5.20  Loan rate set @ ~$4.96  Direct payment set @ 44¢  Target price set @ $5.80 40¢$5.67

38. 38 Peanuts

39. 39  Potential price guarantee $474/Tn  Loan rate set @ ~$355/Tn Peanut Summary  Acres move to areas with rotation and water  Direct payment set @ $36/Tn  Target price set @ $495/Tn $104$474

40. 40 Kim Anderson Oklahoma State University http://agecon.okstate.edu/faculty.asp

41. 41 Commodity2004 Loan Rate2002 Loan Rate Corn1.951.98 Wheat2.752.80 Cotton.52 Soybeans4.965.03 Sorghum1.901.93 Peanuts355.00

42. 42 CommodityFixed Payment Corn.28 Wheat.52 Cotton.0667 Soybeans.44 Sorghum.35 Peanuts.36

43. 43 2002-032004-07 CommodityTargetPrice Corn2.602.63 Wheat3.863.92 Cotton.724 Soybeans5.80 Sorghum2.542.57 Peanuts4.95