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S Illinois | So what is the end game and ultimate price action then? Lets just make some easy math and say a million idled acres. Games will likely get played with those acres so not all of the best land get idled. Lets say all of that idling removes 40 million bu of wheat next year. That works out to 0.7% of non-China world carryover. Got a feeling that does nothing for price. So in other words nothing changed except the government payed 100 million to look at grass instead of looking at 40 mb of extra wheat. Also doesn't this run counter to the tired argument that government is in the business of providing an abundant and cheap food supply? Got a feeling all of the political energy expended to try to get something like this passed would be better spent on regulation rollbacks or use increases.
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Wheat LDP's $102.5 myn thus far..
