Word: wheats
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...House also raised the so-called target prices for grains and cotton, which require the Government to subsidize farmers if market prices drop below the targets. This year, with the target for wheat at $3.81 per bu., payments for that crop may exceed $400 million. The House bill would raise the wheat target...
...shameless politicking over the bills did nothing to reduce many farmers' sense of alienation from Washington. Currently, the Midwest is trying to cope with problems created by the most bountiful harvest ever: 8 billion bu. of corn and 2.8 billion bu. of wheat. The resulting fall in prices has been compounded by rising costs, high interest rates and stagnant consumer demand. But many farm leaders now argue that subsidizing overproduction will not solve their problems. Says Iowa Agriculture Secretary Robert Lounsberry: "The election produced a mandate for the marketplace to set the price, but now a lot of people...
...seeds of the first revolution-high-yield, fertilizer-hungry super-grains-were sown all over the world in the 1960s. Bread-bare countries like Mexico and Iran were soon exporting wheat, the Philippines became self-sufficient in rice, even Pakistan had a harvest surplus. But soaring oil prices pushed the cost of essential petrochemical fertilizers out of reach of all but the wealthiest countries. Today nearly every country "revolutionized" by the Green Revolution is importing food from the world's half-dozen grain exporters, most notably...
...Committee Chairman Jesse Helms of North Carolina had his staff draw up a bill that mainly protected tobacco and peanuts, important products of his state. Senator Robert Dole of Kansas quietly worked on his own version, eventually adopted by the committee, which doubled Reagan's proposed subsidies for wheat and corn. Reagan further fractured farm unity by promising Southern Democrats, whose votes he needed for his economic package, that he would not oppose their sugar and peanut supports...
...sugar will now be supported at 180 per Ib. for no good reason other than the clout that sugar interests wield. But the Senate did cut back on the increase in grain target prices recommended by the agriculture committee and farm lobbyists. The committee bill would provide subsidies when wheat prices fall below $4.10 per bu. The full Senate lowered that target...