JOHANNS REFUSES TO ALLOW EARLY OUT OF CRP

Influenced by record corn acerage

Following the market close on March 30, Secretary of Agriculture Mike Johanns announced because the USDA planting report indicated record acreage going to corn, USDA won't offer early-out to Conservation Reserve Program (CRP) participants. He also said there will be no formal signup for CRP in 2007, but said he's "open to the possibility" of new enrollments in 2008. Some ag interests in Washington, DC, have urged Johanns to consider allowing participants to opt out of the CRP early and without penalty.