OCR Text |
Show LOANS ANNOUNCED L TO SUPPORT 1948 WHEAT CROP The price to farmers on the 1948 wheat crop will De supporter through loans from the Commodity Commod-ity Credit Corporation, H. E. Lar-sen, Lar-sen, member of the Utah state PMA committee, announced today. to-day. The loans will be made to farmers on farm-stored and warehouse-stored wheat from time of harvest through Dec. 31, 1948. Loans will mature April 30, 1949. or earlier upon demand, Mr. Lar-sen Lar-sen explained. The national average loan rate of $2 per bushel at farm levels represents 90 per cent of the July 1, 1948, parity figure of $2.22 per bushel. Last year's rate was $1.84 per bushel. The increase in wheat parity on July 1 of this year over the parity figure of $2.04 on July 1, 1947, is a measure of the rise in prices paid by farmers for commodities com-modities used in production and farm family living. Wheat produced in 1948 and grading No. 3 or better or grading grad-ing U. S. Nos. 4 or 5 because of test weight only will be eligible for loan. Producers desiring price protection through loans may have the loan documents, meas- urements, sales, etc., handled through their local county triple-A triple-A office, Mr. Larsen said. |