Word: wheats
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...immediate history of the present crisis is one of lost opportunities. The production of basic food grains--corn, wheat, rice, barley, and oats--totalled one billion metric tons in 1973, enough to adequately feed four billion people if distributed equally, and the March 15, 1974 report to the Senate Committee on Agriculture and Forestry, shows that there was a world-wide surplus of grains as recently as 1972. It shows grain production recovering in the years between 1968 and 1971, making up a cumulative deficit of over 100 million metric tons, which had resulted from disastrous harvests...
...Department of Agriculture, which now has 105,907 employees (one for every 26.6 farmers), helped bring us the soybean shortage and the inflationary Russian wheat sale...
...prices fall below the targets, the Government will send the farmer a check for the difference. The targets since 1973 have replaced the old-style support prices, under which the Government actually bought up the commodities and stockpiled them. The new target price would be increased as follows: on wheat from $2.05 per bu. to $3.10; on corn from $1.38 per bu. to $2.25; on cotton from...
...Boost the amount of the loans that the Government can make to wheat, corn and cotton raisers who hold their crops off the market while waiting for higher prices and extend the term of the loans to 18 months from the present twelve...
...wholesale prices on a broad range of biscuits and other products by 10%. In addition, farm-commodity prices have been dropping for months. Many experts, looking forward to a bumper crop this fall, expect the trend to continue. Since October, corn has slid from $4.03 to $2.84 per bu., wheat from $5.45 to $3.61 and sugar, which was trading at a horrific 64? per lb. in November, to 28? on commodity markets. Choice beef has been declining. But increasingly tight supplies will probably force it up by 10? or 12? per lb. at retail levels this spring or summer...