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culture today announced that mini* mum price support rates for 1955crop com in the commercial and non commercial corn-producing areas will be based on $1.58 per bushel, which is 87 per cent of the February 15 com parity price. „
Price support rates in the commercial corn-producing area will be at 87 per cent level, but because com acreage allotments are in effect in the,commercial areas for 1955, the law provides that rates in the noncommercial producing area will be 75 per cent of the commercial area support rates, j
The 87-per cent-of-parity sup- i port level for 1955-crop corn is set in accordance with provisions of |aw providing for a variable sup*, port level on the basis of the estimated supply of corn. (For 1955 jthis variable range is 82 Vi-90 per :ent of parity.^ The supply of corn for the 1955-56 marketing year las been estimated as of October 1 at a little more than 107 per cent >f the normal supply. This indicates a support level of not less than 87 per cent of parity for 1955 :rop corn.
Support rates under the 1954, irogram were based on $1.62 per lushel which was 90 per cent of larity.
69.7%