Dick Lugar: “Yes. For example, on my farm, we know that a bushel of soybeans is going to get about $5.43 no matter what the market…”

“Yes. For example, on my farm, we know that a bushel of soybeans is going to get about $5.43 no matter what the market price is. People lament that beans have been down close to $4 a bushel. Indeed, they are, but not for our farm, or for anybody else who really is involved in the farm program involving soybeans. So I want to maximize production irrelevant to whatever the market signals are because I know for every bushel of those beans I am going to get the $5.43. This is the way the world works. This is one reason why soybean production has been booming while prices have been falling. It need not always be the case. If there were no such loan, if I were not guaranteed the $5.43, then I really would have to be thoughtful about how many acres of soybeans I would plant. I would really have to begin to calculate how the world works in terms of markets as opposed to Government programs.”