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TeachMeFinance.com - explain Target price Target price The term 'Target price ' as it applies to the area of agriculture can be defined as ' Price levels established by past law for wheat, corn, grain sorghum, barley, oats, rice, and upland cotton. Prior to 1996, farmers participating in annual federal commodity programs received deficiency payments based on the difference between the target price and the higher of the national market price during a specified time period, or the nonrecourse loan rate. The FAIR Act of 1996 eliminated target prices and replaced deficiency payments with fixed production flexibility contract payments through 2002'. Previous 5 Terms: taphrogenesis Taproot Tar sands Tare Loss Target Next 5 Terms: Targeted Export Assistance Program (TEA) Targeted mutagenesis Targeting tariff Tariff About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.