There will be less money funneled through Farm Bill commodity programs.
The Congressional Budget Office now says farmers will receive just $480 million in Price Loss Coverage payments in 2023, half of what was previously estimated.
The sharp decrease is attributed to rising commodity prices. On the flip side, the CBO says it is going to spend a lot more on SNAP.
Related:
Speculation rises over how much PLC and ARC will pay this year
USDA safety-net programs see record enrollment
