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warehouse space available in Virginia already filled with 1953 wheat, and with an uncertain outlook for moving out this old wheat to make room for the new cjjpp, farmers were urged by Mr. Duncan not to count too heavily on warehouse storage. “The outlook for storage is worse," he said, “than it has been in a number of years.”
Duncan pointed out that a good farm building.for storing grain is one of the best investments a farmer can make, and is aguarantee to the farmer tjhat jhe price support program will mean. something. Many farmers last year were forced to dump wheat on a glutted market at prices of 30 to 50 cents below the loan level because no storage could be found.,
Virginia Farmers cannot pile wheat on the ground in the open as it is occasionally done in the arid sections of the West. If there is no place to store it, it must usually be disposed of on the market for a distress price. The Government loan program becomes a hollow mockery to farmers in such a situation, according to Duncan.
He further stated that wheat price support would be available to farmers with suitable warehouse or on-the-farm storage- at 90 per cent of parity through loan and purchase agreements. He addel! that loans and purchase agreements would be limited to far-* mers who were in compliance with farm acreage allotment.
Duncan stated that at the direction of the Secretary of Agriculture he had appointed a special Grain Storage Committee consisting of representatives of the Extension Service, the ASC, the State Department of Agriculture, warehousmen, and farm organizations. This Committee is holding three area meetings with agricultural leaders and representatives of the U. S. Department of Agri- , culture agencies in Richmond, Luray and Lynchburg for the purpose of developing ways and means of dealing with the grain storage problem. v
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