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Issue 38
June 2001
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Prairie Grains is the official publication of the Minnesota Association of Wheat Growers, North Dakota Grain Growers Association and South Dakota Wheat, Inc.
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Copyright Prairie Grains Magazine
June 2001
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U.S. Wheat Program Summary
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Crop Year 1/
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Pro-
ductio n (mil bu)
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National Average
Support Price
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Ave. Price to Farmers
($ per bushel)
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Value of Producti on
(million $)
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Government Pymts (million$)
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Target Price
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Pymt Rate
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Loan Rate
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---------($ per bushel)---------
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1960 2/
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1354.7
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1.78
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1.74
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2361.2
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1961
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1232.4
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1.79
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1.83
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2254.7
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1962
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1092.0
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2.00
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2.04
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2225.7
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285.5
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Division
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1963
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1146.8
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2.00 3/
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.18 4/
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1.825/
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1.85 (2.03) 6/
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2125.3
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242.6
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Div & Price Sup.
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1964
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1283.4
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2.00 7/
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.70 8
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.25 9/ 1.305/
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1.37 (1.80) 6/
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1757.0
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442.9
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Div & Certificates
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1965
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1315.6
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2.00 7/
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.75 8
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.30 9 1.255/
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1.35 (1.79) 6/
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1774.5
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509.2
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Div & Certificates
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1966
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1304.9
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2.57 7/
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1.32 8
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1.25 5/
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1.63 (2.22) 6/
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2129.9
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681.3
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Div & Certificates
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1967
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1507.6
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2.61 7/
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1.36 8
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1.255/
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1.39 (1.87) 6/
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2090.1
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727.1
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Certificates
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1968
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1556.7
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2.63 7/
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1.38 8
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1.255/
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1.24 (1.79) 6/
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1929.1
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746.0
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Certificates
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1969
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1442.7
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2.77 7/
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1.52 8
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1.25 5/
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1.25 (1.89) 6/
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1795.7
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855.9
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Div & Certificates
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1970
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1351.6
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2.82 7/
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1.57 8
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1.255/
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1.33 (2.08) 6/
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1803.2
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871.0
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Div & Certificates
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1971
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1618.6
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2.93 7/
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1.63 10/
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1.25 5/
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1.34 (1.88) 6/
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2167.8
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885.7
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Div & Certificates
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1972
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1546.2
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3.027/
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1.34 10/
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1.25 5/
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1.76 (2.23) 6/
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2706.1
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858.7
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Div & Certificates
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1973
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1710.8
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3.39 7/
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.68 10/
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1.25 5/
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3.95 (4.17) 6/
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6744.6
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478.2
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Div & Certificates
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1974
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1781.9
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2.0511/
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--
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1.37 5/
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4.09 --
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7287.3
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101.5
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Disaster
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1975
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2126.9
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2.0511/
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--
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1.37 5/
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3.56 --
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7549.8
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51.2
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Disaster
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1976
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2148.8
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2.2911/
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--
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2.25 5/
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2.73 --
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5867.8
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143.4
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Disaster
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1977
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2045.5
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2.9012/
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.65 13/
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2.25 5/
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2.33 --
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4764.6
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1157.2
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Def. & Disaster
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1978
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1775.5
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3.4014/
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.52 13/
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2.35.5/
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2.97
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5280.6
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719.3
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Def/Hay&Grz,Dis
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1979 15/
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2134.1
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3.40 14/
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--
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2.50 5/
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3.80
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8109.0
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72.3
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Disaster
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1980
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2380.9
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3.08/3.63 16/ | --
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3.00/3.30 17/
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3.99
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9303.0
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228.2
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Disaster
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1981
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2785.4
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3.81 14/
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.15 13/
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3.20/3.5017/
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3.69
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10172.0
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635.2
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Deficiency & Dis
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1982
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2765.0
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4.0514/
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.50 13/
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3.55/4.00 17/
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3.45
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9489.0
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488.8
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Deficiency & Dis
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1983
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2419.8
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4.3014/
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.65 13/
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3.65/3.65 17/
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3.51
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10883.0 18/
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1079.5
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Def & Div. & Dis.
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1984
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2594.8
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4.38 14/
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1.00 13/
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3.30 5/
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3.39
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9246.0 18/
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1555.9
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Def & Diversion
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1985
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2424.1
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4.38 14/
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1.08 13/
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3.305/
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3.08
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7371.0
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2188.0
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Def & Diversion
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1986
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2090.6
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4.38 14/
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1.98 13/
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2.40 5/
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2.42
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5042.0
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3672.4
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Def & Diversion
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1987
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2107.7
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4.3814/
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1.81 13/
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2.28 5/
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2.57
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5498.0
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3287.0
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Deficiency
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1988
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1812.2
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4.2314/
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.69 13/
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2.215/
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3.72
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6741.0
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1688.0
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Def & Disaster
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1989
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2036.6
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4.1014/
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.32 13/
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2.065/
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3.72
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7542.0
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1046.0
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Def & Disaster
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1990
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2729.8
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4.0014/
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1.28 13/
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1.955/
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2.61
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7184.0
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2420.3
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Deficiency
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1991
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1980.1
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4.00 14/
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1.35 13/
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2.04 5/
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3.00
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5957.0
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2246.1
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Deficiency
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1992
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2466.8
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4.0014/
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.81 13/
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2.215/
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3.24
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7984.0
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1370.5
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Deficiency
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1993
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2396.4
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4.0014/
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1.03 13/
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2.455/
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3.26
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7812.0
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1900.1
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Deficiency
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1994
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2321.0
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4.00 14/
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.61 13/
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2.58 5/
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3.45
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8007.0
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1145.5
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Deficiency
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1995
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2182.7
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4.0014/
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.00 13/
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2.58 5/
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4.55
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9787.0
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265.8
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Deficiency
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1996 19/
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2277.4
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N/A
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.874
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2.58 5/
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4.30
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9782.0
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1940.5
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PFC, LDP, MLG
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1997
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2481.5
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N/A
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.631
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2.58 5/
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3.38
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8287.0
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1412.5
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PFC, LDP, MLG
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1998 20/
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2547.3
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N/A
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.663
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2.58
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2.65
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6781.0
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2717.6
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PFC, LDP, MLG, MLA
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1999 21/
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2299.0
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N/A
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.637
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2.58
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2.48
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5702.0
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3830.3
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PFC, LDP, MLG, MLA
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2000 22/
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2239.2
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N/A
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.588
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2.58
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2.55
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5710.0
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3593.3
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PFC, LDP, MLG, MLA
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1 For statistics for 1933 through 1959, see Wheat Commodity Fact Sheet for 1979.
2 For 1960 through 1963
crops, support outside the commercial area was 75 percent of the rate reflecting the U.S. average level.
3 Total Support.
4 Price support payment
5 Loan rate.
6 Blended average price to program participants, reflecting national average price received by farmers and the
marketing certificate value average for participants total production.
7 Support for wheat used for domestic food.
8 Domestic marketing certificate value.
9 Export marketing certificate value.
10 The marketing certificate payment rate was the difference between the price received by farmers the first 5 months (July - November) of the marketing year and 100 percent of wheat parity on July 1. An advance payment equal to 75 percent of the estimated face value of the certificate was made to eligible producers.
11 Established target price, guaranteed on production from allotment acreage.
12 Established target price on planted allotment acreage; established target price on unplanted allotment acreage was $2.47.
13 Deficiency payment; 1996 and forward, contract rate.
14 Established target price.
15 Beginning
with 1979, marketing average prices are being used in lieu of season average prices.
16 Target price $3.63 if planted within NCA; $3.08, if exceeded NCA.
17 Loan rate for regular loans/loan rate for wheat in the farmer-owned reserve.
18 Includes estimated value of PIK compensation.
19 1996-97 include production flexibility contract payments, loan deficiency payments, and marketing loan gains.
20 1998-2000 include production flexibility contract payments, loan deficiency payments, marketing loan gains, and market loss assistance payments.
21 Preliminary
22 Forecast based on October WASDE
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U.S. Wheat Production Survey
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Crop Year
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Acreage Planted Millions acres
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Acreage harvested Million Acres
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Yield Bu. (Per harvested ac.)
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Production
Million bushels
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1960
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54.9
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51.9
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26.1
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1354.7
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1961
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55.7
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51.6
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23.9
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1232.4
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1962
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49.3
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43.7
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25.0
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1092.0
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1963
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53.4
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45.5
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25.2
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1146.8
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1964
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55.7
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49.8
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25.8
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1283.4
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1965
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57.4
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49.6
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26.5
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1315.6
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1966
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54.1
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49.6
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26.3
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1304.9
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1967
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67.3
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58.4
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25.8
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1507.6
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1968
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61.9
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54.8
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28.4
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1556.7
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1969
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53.5
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47.1
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30.6
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1442.7
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1970
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48.7
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43.6
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31.0
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1351.6
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1971
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53.8
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47.7
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33.9
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1618.6
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1972
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54.9
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47.3
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32.7
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1546.2
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1973
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59.3
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54.1
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31.6
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1710.8
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1974
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71.0
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65.4
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27.3
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1781.9
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1975
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74.9
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69.5
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30.6
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2126.9
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1976
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80.4
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70.9
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30.3
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2148.8
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1977
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75.4
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66.7
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30.7
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2045.5
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1978
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66.0
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56.5
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31.4
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1775.5
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1979
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71.4
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62.5
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34.2
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2134.1
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1980
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80.8
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71.1
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33.5
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2380.9
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1981
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88.3
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80.6
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34.5
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2785.4
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1982
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86.2
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77.9
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35.5
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2765.0
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1983
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76.4
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61.4
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39.4
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2419.8
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1984
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79.2
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66.9
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38.8
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2594.8
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1985
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75.5
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64.7
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37.5
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2424.1
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1986
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72.0
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60.7
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34.4
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2090.6
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1987
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65.8
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55.9
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37.7
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2107.7
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1988
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65.5
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53.2
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34.1
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1812.2
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1989
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76.6
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62.2
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32.7
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2036.6
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1990
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77.0
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69.1
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39.5
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2729.8
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1991
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69.9
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57.8
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34.3
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1980.1
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1992
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72.2
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62.8
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39.3
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2466.8
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1993
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72.2
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62.7
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38.2
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2396.4
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1994
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70.3
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61.8
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37.6
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2321.0
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1995
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69.0
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61.0
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35.8
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2182.7
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1996
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75.1
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62.8
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36.3
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2277.4
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1997
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70.4
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62.8
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39.5
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2481.5
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1998
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65.8
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59.0
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43.2
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2547.3
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1999 1/
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62.7
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53.8
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42.7
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2299.0
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2000 2/
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62.5
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53.2
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42.1
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2239.2
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1/ Preliminary
2/ Forecast based on October WASDE
Source: USDA
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U.S. Wheat Price Support Programs Survey
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Crop Year
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Support Price/Target Price ($/bushel)
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Direct Payments ($/bushel)
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Loan Rate
($/bushel)
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Total Quantity Place Under Loan (million bu.)
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1960
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1.78
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--
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1.74
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424.0
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1961
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1.79
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--
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1.83
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271.2
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1962
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2.00
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--
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2.04
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297.3
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1963
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2.00
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.18
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1.88
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177.4
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1964
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2.00
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.70/.25
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1.30
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205.8
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1965
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2.00
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.75/.30
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1.25
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172.4
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1966
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2.57
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1.32
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1.25
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132.7
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1967
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2.61
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1.36
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1.25
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281.5
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1968
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2.63
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1.38
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1.25
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453.1
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1969
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2.77
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1.52
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1.25
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407.6
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1970
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2.82
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1.57
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1.25
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254.3
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1971
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2.93
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1.63
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1.25
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441.8
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1972
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3.02
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1.34
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1.25
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185.1
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1973
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3.39
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.68
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1.25
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59.9
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1974
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2.05
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--
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1.37
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37.2
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1975
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2.05
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--
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1.37
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51.3
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1976
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2.29
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--
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2.25
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492.8
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1977
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2.90
|
.65
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2.25
|
604.1
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1978
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3.40
|
.52
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2.35
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256.4
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1979
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3.40
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--
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2.50
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182.0
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1980
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3.08/3.63
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--
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3.00/3.30
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331.8
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1981
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3.81
|
.15
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3.20/3.50
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452.7
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1982
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4.05
|
.50
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3.55/4.00
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646.2
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1983
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4.30
|
.65
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3.65
|
635.2
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1984
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4.38
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1.00
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3.30
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284.7
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1985
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4.38
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1.08
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3.30
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842.6
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1986
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4.38
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1.98
|
2.40
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514.1
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1987
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4.38
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1.81
|
2.28
|
472.3
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1988
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4.23
|
.69
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2.21
|
106.2
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1989
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4.10
|
.32
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2.06
|
113.5
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1990
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4.00
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1.28
|
1.95
|
405.1
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1991
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4.00
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1.35
|
2.04
|
143.2
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1992
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4.00
|
.81
|
2.21
|
240.3
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1993
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4.00
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1.03
|
2.45
|
258.3
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1994
|
4.00
|
.61
|
2.58
|
231.1
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1995
|
4.00
|
.00
|
2.58
|
114.2
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1996
|
N/A
|
.874 1/
|
2.58
|
194.8
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1997
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N/A
|
.631
|
2.58
|
262.7
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1998
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N/A
|
.663
|
2.58
|
425.0
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1999 2/
|
N/A
|
.637
|
2.58
|
154.2
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2000 3/
|
N/A
|
.588
|
2.58
|
235.0
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|
1/ Production flexibility contract rate
2/ Preliminary
3/ Forecast
Source: USDA
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