The Regional Distribution of Farm-Level Impacts from Acreage Set-Asides
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The Center for Agricultural and Rural Development (CARD) conducts innovative public policy and economic research on agricultural, environmental, and food issues. CARD uniquely combines academic excellence with engagement and anticipatory thinking to inform and benefit society.
CARD researchers develop and apply economic theory, quantitative methods, and interdisciplinary approaches to create relevant knowledge. Communication efforts target state and federal policymakers; the research community; agricultural, food, and environmental groups; individual decision-makers; and international audiences.
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Abstract
The question of whether the United States should once again authorize acreage set-asides will be addressed now that Congress has decided to hold hearings about a possible early rewrite of farm policy. Questions about the impact of acreage set-asides on farm income and national policy goals will need to be answered. This paper takes an initial look at three pertinent questions: (1) What impact will acreage set-asides have on the prices of corn, soybeans, and wheat? (2) What would be the differential farm-level impacts of set-asides across regions? And (3) How might acreage controls work with existing marketing loans?