TeachMeFinance.com - explain Contract acreage
Contract acreage The term 'Contract acreage ' as it applies to the area of agriculture can be defined as ' Enrolled 1996 commodity base acreage under the FAIR Act of 1996 for wheat, feed grains, upland cotton, and rice (generally fixed for 1996 through 2002). A farmer may voluntarily choose to reduce contract acreage in subsequent years. Land leaving the CRP may be entered into a production flexibility contract if the land was previously commodity base acreage'.
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