OCR Text |
Show Grain Reserve Program aids Farmers capacity. For more information on the farmer-held grain reserve program, contact personnel in the Iron County ASCS office not later than March 31, 1978. The grain reserve program serves as a new marketing tool for farmers. Darwin Hulet, chairperson of the Iron County ASC Committee, expalined, "Instead of selling their grain at low market prices, farmers can place it in the reserve program, receive storage payments, and wait for prices to increase." By using the reserve to isolate supplies from the marketplace market-place when they are excessive, ex-cessive, farmers are helping to get prices up," he added. Under the program, farmers enter into a contract con-tract with the government for a three-year period, and receive annually, in advnace a storage payment of 20 cents per bushel for wheat, corn, sorghum and barley, and 15 cents per bushel for oats. Farmers, in return, must agree to hold their grain off the market at least until the price reaches an established level or the three-year contract expires. The final date to obtain a loan and become eligible to enter the reserve with a 1977-crop 1977-crop barley, wheat and oats (not yet under loan) may file a purchase agreement by February 28, 1978, obtain a loan then immediately enter the three-year reserve program. Mr. Hulet also announced a change in the farm storage facility loan program that will increase the amount of storage for which reserve program participants may qualify. Under the change, a farmer will be able to obtain a loan for storage structers to store two-year's crop production. This two years storage capacity may be in excess of the existing capacity used to store grain in the reserve program. Previously, all existing facilities were included as a part of the two-years storage |