Word: downstep
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Dates: during 1959-1959
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...corn, abolish acreage controls while lowering price supports from $1.77 to $1.40 per bu. Because the plan links support prices to the average market prices for the preceding three years (abandoning the old parity ratio based on 1910-14 figures), the Benson program will admittedly lead to a gradual downstep of prices each year. Benson believes that dropping prices will ultimately cut down the amount of wheat raised; U.S. farmers, past masters of food production, bet that they can keep their incomes from falling too fast by increasing their crop yields. Congress rejected Benson's wheat proposal last session...
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