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Show THURSDAY, APRIL Supply and Surplus What's the Difference? The United States will have a this Utah native, Dr. Quen-ti- n West, now with the Federal Economics Research Service, speaking at Utah State University to persons attending the Utah Bankers Association Agricultural conference, made that prediction this year. His forecasts were for two billion bushels of wheat, six and a half million bushels of corn and .ibout that many soybeans. He said this brings up the big policy question of supplies vs. surpluses. Both deal with the same thing, an abundance of production, but they are looked at entirely differently. At present, he noted, there are practically no carry over supplies of grains in the world. The United States used to have a buffer of surplus stocks, but other countries haven't carried surpluses. They have depended on ours. So the big question he raised was, "What kind of reserves shall we have and yet not get back to where we call them surpluses with all the problems that entails?" "Right now," he said, "most concerns are the other way around. We no longer have a buffer of surplus stocks. We are with the so directly inter-faceworld market that we are immediately affected by what happens around the world. If we record crop production year. A 6e7 11. 1974 rhTomIeaTgras- j-used to do when it was more sound. They have shifted their interest more to commodities such as gold, boosting it to a world price of $185 an ounce, and other commodities besides the precious metals. For example, they would rather have wheat than currency for holding. This has caused prices to shoot up even when it seems they should be going down. "We expect to see wheat and were to have a bad weather year around the world, prices would go out of the ceiling. But if there is good production around the world, we will see a slight decrease in food prices. "Traditionally, we in the U.S. have been a very open market country. Our philosophy has been a free market system. But we must recognize that there has got to be a world policy on food preserves. "Our monetary situation is a factor. Though the dollar has recently strengthened, other countries are not anxious to acquire and hold dollars as they f RENT j P POWER RAKE -- ana al Chu I fT. i Stop 5 faf s- if m y $3.25 per hoar A 2 hour miiimwiMjfr other prices level off. Many nations can produce grain and are moving into production. We have the capacity to increase production of feed grains by double. I feel confident that other countries will be able to buy what they want. But that still doesn't eliminate the need for establishing a world food preserves policy," Dr. West stated. FOX TILLED 8 Duffs Lawn U KMI MocrSvicc Phone East Main - American Fork 756-36- if 260 )) Spring Sale One Week Only I Q (( d "I admire originality, Miss Wallace, but not in spelling," 035 19L-306A1FJ- UM 4gtex The one to plant for yield and quality advantages that make it superior to all others in this area. Research bred for greater leafiness, finer stems, improved pea aphid and spotted alfalfa aphid resistance, exceptional leaf holding ability, good resistance to bacterial wilt and leaf disease, fast regrowth, strong stand persistence. This year, plant for strong stands of high production, top quality hay! ! l-iER- MAINS r .... im.- - ,J33.flpSr7ftft : i n. i i "tTvj tr i l Since Magicolor Outside Paint i ( Reg. $9.99 Gal. .Sale $7.99 j 1871 Fresno, Ca. 93777 3 (209) Box 12447 233-882- l I 5 Cu. Ft. Contractors 4 Cu. Ft. J $39.50 $34.00 Peck Builders Supply LEHr f j j |