OCR Text |
Show 1951 Wheat Price Supports To Be On Same Level As This Year's Crop Price support on the 1951 wheat crop will be at the same parity level as for the 1950 crop, J. Vern Hopkin, chairman of the State Production and Marketing Administration committee, com-mittee, said today. The action was taken in accordance with legislation which directs that support for field crops be announced an-nounced in advance of the planting plant-ing season. Mr. Hopkin explained that support for the 1951 wheat crop will be at 90 per cent of parity, but not less than a national na-tional average of $1.99 a bushel. This figure is based upon the latest parity price information available. If parity is higher at the beginning of the 1951-52 marketing year, the support will be increased. While the mandatory price supports for the 1951 wheat crop could have been set as low h 1 as 80 per cent of parity, Mr. Hopkin said that Secretary of Agriculture Brannan put the support at 90 per cent to assure an abundant supply of wheat in accordance with acreage allotments. al-lotments. With average yields, the national 1951 wheat allotment allot-ment of 72.8 million acres would produce an estimated 1,150 million bushels. As in other years, price support sup-port in 1951 will be available to wheat growers through loans and purchase agreements. One change in the wheat program for 1951 is that no farm-storage payment will be made to the producer, and the Commodity Credit Corporation will not assume as-sume any warehouse charges, except the receiving charges, accruing ac-cruing prior to maturity of the loans. |