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PMA Offers Loans
On Farm-Stored Wheat
As commercial grain storage warehouse and elevators rapidly filled this week with the current wheat crop, the Production and Marketing Administration announced that support loans will be made on wheat stored in suitable building on the farm.
However, P. A Lewis, PMA State Chairman, cautioned producers that such on-fanftt storage space is sub— ject to approval of PMA before loans are disbursed. He also noted that a • farmer obtaining a farm storage loan is responsible for mantaining the quantity and grade of the wheat on which the loan was made. PMA has exhausted every possibility in trying to find commercial ware house space for storing this year’s wheat under Commodity Credit Corporation Loans, according to Lewis. The ten warehouses which have signed storage agreements with PMA have a total capacity of 1,006,000 bu. available for the storage of wheat under price support. Lewis said that this may be far short of the needed since considerably more wheat may go under loan than last year due to ‘the wide'difference between the support price and the market price. Virginia growers delivered to PMA about 960,000 bushels of 1952 wheat under loan.
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