Corn growers : would you deliberately throw away millions of dollars? Page: 2
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The average mid-month farm price did not reach the price-support level
until July 1950. By that time, nearly three-quarters of a billion bushels of
1949-crop corn had been sold by farmers at prices below the support level.
THAT FIGURES OUT to a lot of lost income--income that farmers could have
protected by orderly marketing with the aid of the price-support programs.
Although DEFENSE REQUIREMENTS served to bolster the prices farmers received
for their 1950 and 1951 corn crops, the same pattern of "rise and fall" held in
marketings and prices.
A BIG CORN CROP--with high yields in surplus-producing areas--is indicated
for this year. The crop is expected to mature early and to be generally of top
quality. This is good. Corn is our main feed crop, it stores well, and large
reserves are needed for our increased livestock numbers.
ORDERLY MARKETING of this big crop, however, will be especially important
to protect the interests of farmers, consumers, and the whole Nation. The corn
price supports can help farmers build needed reserve stocks and at the same
time stabilize the market.
THE CCC CORN PRICE-SUPPORT PROGRAM OFFERS FARMERS -1.
Ready cash in the form of loans on corn stored in approved bins
or cribs. The farmer may redeem his crop by paying off the
loan, or he may deliver the corn to CCC when the loan matures,
2. Price protection under purchase agreements for farmers who do
not want a loan. Under this plan, CCC agrees to buy from the
farmer--toward the end of the marketing year--a specified
amount of corn of a specified grade at the support price.
Under either loans or purchase agreements, the farm price is protected at
the price-support rate. And the producer may feed his corn or sell as the market
needs it--after first paying off the loan, instead of dumping too much at
harvesttime.
CCC loans and purchase agreements on the 1952 corn crop are available from
time of harvest through May 31, 1953.
GOOD STORAGE is necessary under either plan. If you need additional storage,
a CCC storage facility loan--payable over 4 years, at 4 percent interest-will be
made for as much as 80 percent of the cost or 45 cents per bushel of the rated
storage capacity, whichever is less. Loans are also available for drying and
ventilating equipment to condition corn for long-time storage. The loans may be
obtained, with the approval of the County PMA Committee, through approved local
lending agencies or direct from CCC through the committee.
See your COUNTY PMA COMMITTEE for further details.
UNT LIRARIES DENTON TX 7203
U. S. Department of Agriculture i PA-211
Production
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United States. Department of Agriculture. Production and Marketing Administration. Corn growers : would you deliberately throw away millions of dollars?, book, August 1952; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc1530/m1/2/: accessed April 25, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.