Show BABSON'S AUTHENTIC STATEMENT wr r w Special to THE EXPRESS BABSON DISCUSSES THE CROP OUTLOOK BABSON PARK MASS MASS- MASS Th The farmers ot of our nation last year grossed about forty one forty ne billion dollars to set a new record The big question now is Will they do as well in Spring Planting Intentions Intention It If farmers stick to their early 1964 planting intentions US crop acreage will just about equal that for 1963 and will be a small 2 above 1962 The The- Agriculture Depart Depart- Department's ments ment's Crop Reporting Board says that a total of acres will wUl be seeded to the 17 major crops covered in its March 1 planting intentions survey If we add the minor crops not included in that survey the total for all allU U US S crops this year will pro pro- probably probably bably amount to acres the fourth smallest ever recorded The Crop Reporting Board looks for declines jn fn seeded to barley corn flax flax- flaxseed flaxseed seed and oats but it expects these downturns to be offset by the larger that will be seeded to soybeans and spring wheat Our Babson commodity analysts foresee actual 1964 plantings a bit higher than the figure indicated ted by the Crop Reporting Board Corn and Wheat It is officially estimated that corn plantings will be 17 less than in 1963 and 7 below the 62 aver aver- average age The re reason son for this is that farmers have decided to take more of their corn com land out of production so they hey can qualify for payments by the government under its new feed grains diversion pro pro- program program gram Even with this smaller acreage however most ex experts believe that corn com output will wUl equal the 1963 record of bushels I per per- personally feel it may even top that fIgure Government reports on US wheat spring plantings indicate that there wm will be a boost of 65 05 from last year but that the total will sUn still he be beabout about 3 below the year five average average Of course the new farm bill just enacted will encoUrage encourage farmers to cut plantings back even more But assuming average average yields per acre I am convinced that total 1964 wheat production wU wil still stUl come very close to the year five average While the wheat surplus does not loom so large as it did a couple ot of years ago that problem problem aI I lem far from licked What About Cotton I This spring the outlook for forthe the the cotton crop Is more un un- uncertain certain than usual because some cotton was alreadY in inthe inthe the ground before the new farm price supports for cot cot- cotton ton from 32 c to a pound Cotton growers had originally intended to plant just about the same number of acres as in 1963 which would be just below the five five- year average of acres My guess is that less land will wUl be sowed to cotton now though the cutback wont won't be as great as it would have been If the farm bill had passed earlier in the season The cotton provisions of the farm bill may be an improvement improve improve- improvement The ment on the old two price system but I predict they will not be the cure all some people expect Continued gov gov- gov government I someI tinkering with pro pro- production and prices will wUl make makeI matters worse in the long run it will simply postpone the I day of reckoning for those farmerS who cannot or will not adjust to economic real real- reality ity and changing marketing concepts Income Some months ago everyone was excited at the prospect of Russia buying vast tonnages of wheat and possibly other grains But although the Soviets lets have taken fairly size size- sizeable sizeable able our amounts hopes for fort I really reany large shipments of wheat and other grains be- be beyond beyond yond the Iron Curtain have fizzled Grain surpluses are still with us Although we haye have cut back our plantings we are still overproducing For this and other reasons we have right now consider consider- considerable able downward pressures on prices of farm products Hen Hen- Hence ce I predict that 1964 farm prices prices-on average will be bea bea a little bit lower than last years year's Farm income will do dowen dowell wen well to hold to its 1963 l level vel |