Word: corns
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Dates: during 1950-1959
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Pick Your Acreage. The trouble for both farmers and taxpayers lies in the new corn-support laws passed by Congress last year. Under the old system, farmers who voluntarily restricted their acreage were protected by a support price of $1.36 per bu., while those who planted all they wanted to plant got only $1.06. The new law, supported by both Republicans and Democrats, aimed at compromise with a straight $1.12 per bu., with no attempt to control acreage. Secretary of Agriculture Ezra Taft Benson rashly guessed that there would be little increase in corn production. Even when farmers disclosed their...
Benson was wrong on both counts. Corn production is up by 600 million bu., and farmers piled on so much of everything else that net feed production is up 5%. On corn alone, Benson faces having to buy up to $672 million worth of this year's corn, on top of an estimated $1.8 billion worth of previous years' corn.* Meanwhile, storage, transportation and interest on earlier corn surpluses are costing $1,000,000 a day, more than twice the cost of maintaining the U.S. courts and Congress. Total added outlay for this year's corn charged...
Agriculture experts hope that a rapid price drop will discourage production. The U.S. corn farmer, already unhappy about this year's low prices, has an answer to that: rising productivity that enables him to grow ever bigger crops for ever bigger total subsidies, no matter what the price...
...service. The farmer merely brings in a soil sample, writes down whatever number of bushels per acre he desires, and in half an hour gets back a seed and fertilizer prescription. Says Vice President Everett C. Walter: "It's just as easy to raise 100 bushels an acre corn as 50 bushels. The only chance is weather, and there is not too much chance in that...
...carry-over of corn would be a whole lot bigger except for subsidized exports of corn...