Looking forward to reading @collinpeterson bill for a mandatory 50M acres of CRP. Currently there are only 21M acres enrolled at a cost of $1.8 billion per year. The last two sign-ups have underperformed, not even reaching the current cap. But somehow we'll now get 2X+ more?
Maybe the @HouseAgDems should consider and discuss the effects of rent caps that were placed in the last CRP Farm Bill. Are those caps contributing to landowners' lack of interest?
There certainly seemed to be legislative resistance to increasing the CRP budget in the last Farm Bill — though the idea of more enrolled acreage was politically attractive. So, by capping rental rates and keeping the budget the same, it hypothetically freed up funds for + acres
But that's not what happened. Instead, expiring contracts outpaced new sign-ups. With commodity prices rebounding, do we really see an end to this trend with rental caps in place? Laws of economics would say no.
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