Word: bu
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Dates: during 1970-1979
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...tillage. The fields should have been rippling with mature wheat; instead they were creased with furrows. Shaffer had plowed most of the land under when it produced nothing more than weed-choked stubble only a few inches tall. Land that only two years before had yielded 50 bu. of wheat an acre is yielding a mere 13 bu. this year. But Shaffer said: "I'm more concerned about the export situation than anything else. Until there's a bigger world market, we just can't make money...
...northwestern section of wheat-growing North Dakota, Stan Erickson, 33, was busy from dawn to dusk, bringing in his crop: 10,000 bu. of durum wheat from 400 acres. The achievement left him and his father with a marketing dilemma. Half of last year's crop-8,000 bu.-is still in storage on the family farm. This year the Ericksons cut back their planting by 200 acres but were still forced to spend $3,000 for an additional, 6,000-bu. storage bin. Says the younger Erickson: "We had too good a year. Last year there...
America's prodigiously fertile farm lands will yield some 2.04 billion bu. of wheat this year, the third best crop in U.S. history and only 107 million bu. less than the 1976 record. Corn production is approaching 6.1 billion bu., second only to last year's alltime high of 6.2 billion bu. A third basic crop, soybeans, will yield 1.8 billion bu. v. a previous record of 1.5 billion bu. in 1973. Beyond what it can consume and export, the U.S. will have on hand 84 million metric tons of those products at year...
...That the crop-support loan rate be raised from $1.75 a bu. to $2 for corn. The loan rate is a Government-set floor price for grains, used by farmers when they borrow money with their crops as collateral. The proposals do not change the loan rate for wheat (currently $2.25 a bu.). Instead, the Administration increased the "target price" from $2.47 to $3. When market prices fall below the target, Washington will pay out the difference between the loan rate and the target figure-that is 75? per bu. Total cost of the program: $4.4 billion...
...last week that it would raise prices on structural shapes and tin mill products by 6% to 7% effective Sept. 4. In addition, the House last week followed the Senate's lead and approved a measure raising the wheat support price for farmers from $2.47 to $2.90 per bu. The move would add at least $470 million to the cost of the price-support program...