An increase in reference prices is included in the new farm bill the House Agriculture Committee will mark up on Thursday and a U.S. Congressman from South Dakota says it’s a much-needed change.
Dusty Johnson says this is the biggest reinvestment into the commodities title since 2002.
“The reference price increase will vary by commodity. Just as an example for soybeans it will be 18%, wheat it will be 15.5% and corn will be 10%.
