OCR Text |
Show 1950 Wheat Price Supports Announced; Ho Marketing Quotas For 1951 Crop The national average price i support rate for 1950-crop i wheat has been set at $2 per bushel, the Duchesne County I MA cmmittee announced this week. The national average rate for the 1949 crop was $1.95 per bushel. Mr. Bertoch, committee chairman, chair-man, says the committee expects to be able to announce local rates for Duchesne county within with-in a very short time. The 1949 rate was $1.76 per bushel. The 1950 national rate is 90 per cent of the parity price as of July 1, 1950, the mandatory level established by the Agricultural Agricul-tural Act of 1949, the chairman chair-man explains. Price support for the 1950 crop will be available to producers pro-ducers who have seeded within their farm acreage allotments, Mr. Bertoch points out. Secretary Secre-tary of Agriculture Charles F. Brannan announced last July that marketing quotas would not be required for 1950-crop wheat, but that price support would be conditioned upon producer pro-ducer compliance with acreage allotments. Producer loans and purchase agreements will again be offered, of-fered, as in 1949-50 says the chairman. He also assures producers pro-ducers that storage allowances will be continued on the same general basis as last year. This means that the Commodity Credit corporation will make farm-storage payments and assume as-sume warehouse storage charg es on wheat which may be delivered de-livered to CCC under the support sup-port program. The loans and purchase agreements will be available through January 1951. ! There will be no marketing quotas for the 1951 wheat crop. Ihis announcement by the secretary of Agriculture on i"lu is based on provisions a he Agricultural Adjustment Act of 1938 as amended, J. Vern dF m" chairman of the Utah A committee, explains. The current wheat crop is estimated at 845 million bushels and the carryover from last year is estimated at 450 million bushels, a total of 1,395 million bushels. This is 18 per cent more than the normal supply the estimated amount needed for domestic consumption and export. Marketing quotas for wheat must be proclaimed when the total supply exceeds the normal supply 'by more than 20 per cent. Wheat export possibilities for the July 1, 1950-June 30, 1951 crop year are estimated at about 325 million bushels. Domestic consumption for the current year is estimated at 700 million bushels 490 million for food, about 130 million for feed and 80 million for seed. |