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Show Wheat Growers Assured Higher Loan Rate in '42 Now that wheat marketing quotas quo-tas have been approved, wheat growers of Cache county are assured as-sured the 16-cent increase in the loan rate, said Alphonzo Christen-sen, Christen-sen, Chairman of the county AAA committee. He explained that the loan program pro-gram for the 1942 wheat crop on a national average has been boosted boost-ed from 98 cents to $1.14. This rate is based upon a return equivalent to 85 per cent of parity. But the boost in the loan rate also means an increase in the penalty pen-alty on excess wheat. All wheat which is determined by the county AAA committee to be excess shall be subject to a 57 cent penalty if it is marketed or fed. This applies only to the 1942 crop, however. But the penalty can be avoided if the grower puts the excess wheat in storage under bond and as soon as his excess wheat is ta- ken care of, all his other wheat -will . be eligible for sale or feeding. feed-ing. ,., The wheat marketing card will be used again to designate free wheat. All growers who comply with their acreage allotments will be eligible for wheat loans. Coopera-tors Coopera-tors will be iligible for loans at one-half the regular rate on marketing mar-keting excess wheat resulting from volunteer wheat. Non-cooperators will be eligible for loans at 60 per cent of the regular loan rate on the wheat that would be subject to penalty if marketed. .'.A storage allowance of 7 cents a bushel will be allowed in addition to the loan value for wheat stored on the farm. The allowance will be paid in advance to stimulate t.hp construction of new storage structures and repairs of old bins. However, if the producer redeems his wheat, he shall be required to repay the full amount borrowed, including the storage allowance, plus interest. |
