Commodities : Monday, Nov. 25, 1985 : Soybean Futures Prices Fall
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Soybean futures prices fell Monday on the Chicago Board of Trade as the market continued to flounder in a sea of uncertainty, trying to anticipate what kind of farm bill will finally emerge from Congress.
Prices fell sharply in early trading in response to the Senate’s version of the farm bill, a package that would encourage farmers to sell their soybeans on the open market by providing direct subsidies to those who sell their crop instead of using it as collateral for government loans.
The Senate proposal would pay farmers the greater of $1 a bushel or $35 an acre if they agreed to sell their crop at market prices.
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