Show 1 A Record Year For The United States will have a record crop production this A Utah Quentin now with the Federal Economics Research speaking at Utah State University to persons attending the Utah Bankers Association Agricultural made that prediction this HIS forecasts were for two billion bushels of six and a half million bushels of corn and about that many He said this brings up the big policy question of supplies Both deal with the same an abundance of but they are looked at entirely AT he there are practically no carry over supplies of grains in the The United States used to have a buffer of surplus but other countries haven't carried have depended on SO THE big question he raised kind of reserves shall we have and yet not get back to where we call them surpluses with all the problems that he concerns are the other way We no longer have a buffer of surplus We are so directly inter-faced with the world market that we are immediately affected by what happens around the IF WE were to have a bad weather year around the prices would go out of the But if there is good production around the we will see a slight decrease in food we in the U. S. have been a very open market Our philosophy has been a free market But we must recognize that there has got to be a world policy on food he concerns are the other way We no longer have a buffer of surplus We are so directly inter-faced with the world market that we are immediately affected by what happens around the IF WE were to have a bad weather year around the prices would go out of the But if there is good production around the we will see a slight decrease in food we In the U. S. have been a very open Our philosophy has been a free market But we must recognize that there has got to be a world policy on food monetary situation is a Though the dollar has recently other countries are not anxious to acquire and hold dollars as used to do when it was more They have shifted their interest more to commodities such as boosting It to a world price of an and other commodities besides the precious For they would rather have wheat than currency for This has caused prices to shoot up even when it seems they should be going EXPECT to see wheat and other prices level Many nations can produce grain and are moving into We have the to increase production of feed grains by feel confident that other countries will be able to buy what they But that still doesn't eliminate the need for establishing a world food preserves West |