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Currently there is no farm program at all - it is being debated in Congress, has been extended several times over winter to cover the food stamp & other social welfare programs, but not applicable to farmers. Most of the bills Congress is looking at the President says he will veto, and then back to start over, so.... There is nothing out there right now. It expired last crop year.
The old farm bill had 3 seperate programs for grain farmers. The LDP you mention is one of them.
The govt, in it's wisdom, figures out a low-ball grain target price. If grain falls below that price, you can sign up for LDP, and get the difference between the actual price of grain and the target price. You must have already harvested the grain, but you do not need to sell it on the day you claim the LDP. It's been 2 years since there has been much of an LDP for any crops. I think very early crops of beans in 06 got a nickel or so for the beans if you could claim it early. Again, that was the old program. There is much talk of keeping an LDP in the new farm bill, but as of today, there is nothing at all. LDP would sort of be like a minimum wage for you. It's so low it's laughable, but it's all the govt offers. In your case your employer has to pay you minimum wage or cut your job. Since farmers sell to international markets, the govt takes over that 'minumum wage' payment. Would you really be happy to be working for minumum wage???? --->Paul
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