Word: cropped
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...kept fallow by the operations of the price-support program. Roughly 40 million acres were released for output in time for this year's planting season. Last month President Nixon signed into law a new policy that eliminates acreage controls altogether and permits a farmer to sell his crop for whatever the market will bring; if his price falls below specified target levels, the Government will send him a check for the difference. Farmers from now on can plant their property fence-to-fence if they wish. Even with planting restrictions, this year's harvest will...
...risen by half a bushel an acre per year for the past ten years, to about 30 bu. The Government figures that by 1985, soybean production will increase by more than 30%, to 2 billion bu., and that estimate seems low. Agronomists contend that they could double the soybean crop in a few years if adequate research funds for fertilizer studies and soil were available...
...seem totally irrational, given the almost hysterical state of current markets, but in fact farmers have some reason for regarding the present deluge of world demand as an abnormality that will soon pass. It has been caused by an extraordinary combination of temporary factors: bad weather round the world; crop failures in Africa, Asia and the Soviet Union; a decline in the catch of the Peruvian anchovy, which is a rich animal-feed supplement; a global inflationary boom; and the decline of the dollar, which has enabled foreigners to bid high for U.S. food...
...farm exports an amazing 60%, to $13 billion, in 1972-73 alone. Export demand is still rising, but nothing short of a series of malevolent miracles could prolong that pace. Already, some tendencies are at work to take the frenzy out of demand. The huge size of the American crop is allaying fears of foreign buyers, who are now likely to scale down immediate orders in the belief that supplies probably will be available later. Other nations are increasing their harvests this year. Canada's wheat crop, for instance, should weigh in at close to a record. Soviet grain...
Golden Opportunity. Yet the U.S. farmer has little reason to doubt that over the long run, the world market will absorb as much as he can grow. The Department of Agriculture estimates that the- tonnage of U.S. crop exports will climb about 60% by 1985. To begin with, world reserve stocks of wheat and some other grains have been dangerously depleted by recent crop disasters, and will have to be rebuilt...