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Farm Price Outlook
Continued from page eight ges for the loan period amount to nine cents a bushel, which is above present harvest prices of $1.70 to $1.80.
If you redeem the wheat to take advantage of a rise in cash prices, the government loaned t vbmmm you also pay interest on the money the government loaned you, maybe another eight cents or so a bushel.
Normally, it takes about ten days or so to get your money if you store under loan, but you have a chance to make some if the cash price advances.
There’s plenty of wheat in storage, but not too much soft red winter wheat, which is what Virginia grows.
You also have the option of storing on the farm under loan, if your storage can qualify, but that way, you take all the risk of the wheat going out of condition.
Wheat in Richmond last week was quoted at $1.74, with Norfolk at $1.80, Northecn Neck $1.73 to $1.7.5, Lynchburg at $1.70 to $1.76 and Valley points at $1.75.
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