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...case of soybeans and wheat, the Administration's hopes seem well founded. Realistically assuming soybean plantings of 54 million acres, a modest yield of 27.3 bu. an acre would produce a bounteous crop; good weather could raise this yield to 30 or more bushels and cut the price of beans by as much as 50%. Wheat is headed for a bumper crop of up to 300 million bushels more than last year. There is a good chance that wheat prices will dip this year-unless the Russians come into the market again and bid prices up. Other produce, including...
...outlook for other yields is far less rosy. Cold weather and rain have destroyed much of Georgia's peach crop, and the prospects for rice and Midwestern apples are glum. Last week Farmer Morris Moeckly looked over his rain-swamped land near Polk City, Iowa, and wryly wondered if his biggest crop this year might be fish. About 60 of his 450 acres are still under water, and Moeckly noted, "It will be much too late to plant corn in there...
Indeed corn, used mainly to fatten animals, is the most threatened feed crop of all. The Government had hoped that 74 million acres of corn would be planted nationally this year, but farmers in most Midwestern states are well behind that schedule. In Iowa, the nation's biggest corn state, deep mud had by last week held plantings to 18% of the total potential acreage, v. 30% at this time last year. Even if the farmers do hit the Government target on acreage, it is doubtful that they will get a big enough crop to fulfill Administration estimates. Seeds...
Wilson, the state's director of agriculture, the rail shortage will be translated into another assault on housewives' food budgets: "We've got a surplus of [old-crop] grain on the farm, but a shortage in the market. This drives up grain prices, which has a direct bearing on livestock feed-lot operators and eventually on consumers." Other commodities are being similarly afflicted; for instance, skyrocketing lumber prices have been blamed partly on a heavy demand for railroad flatcars to haul wood from mill to housing sites...
...week and pledged "full federal support for their recovery and rebuilding efforts." Even the eldest Mississippians could not remember such biblical rainfalls (57 in. since last October). Said one: "Everything that could be flooded has been flooded." Perhaps 15% to 20% of the region's cotton crop will have to be written off, along with a large portion of the soybean harvest. An Illinois agricultural official said flood water had devastated 45,000 acres of the winter wheat crop...