Word: ccc
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Dates: during 1940-1949
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...Farmers faced an uncertain future. Continue farm price support, said Truman ; restore CCC authority to build more storage bins...
...sold when cribbed, it would have brought $1.25. Thus Mr. Roth is $918 ahead by sealing it. If the price goes above $1.42 before Sept. i, 1949, Farmer Roth can sell it and pay his loan. If the price remains below $1.42, Roth will simply deliver the corn to CCC on Sept. 1, 1949 in full payment of loan. Many such loans as this are being made. All that is required is that the crib be suitable to keep the corn in good condition until Sept...
...decision to keep the Government in the grain business was a victory for Secretary of Agriculture Charles F. Brannan, who does not want to diminish CCC's power to exert control over grain markets. The election, Brannan apparently thought, had given the Administration a mandate to continue the kind of Government trading that Congress had frowned...
Secretary Brannan had urgent politico-economic reasons for wanting CCC to ship the grain. With the biggest crop in history piling up, much of it was without storage and therefore ineligible for Government loans, a form of price support. If private traders took over EGA buying, they would be likely to buy stored grain, pass over the other grain. On the other hand, CCC may be able to buy the unstored grain and ship it out before farmers have to sell it below support levels...
...traders who have loaded up with futures contracts to supply EGA with grain, the best guess was that CCC would take over the grain the traders had bought...