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Nationally, production this year is up 25 per cent over last year. Even if crushers operate at capacity, we will probably end up next fall with a record carry-over pi beans.
Last week, the Richmond soybeans price was $2.31, Norfolk $2 32 to $2.38 and Northern Neck $227 to $228. Beans in Baltimore were $226 to $2.40 and Chicago $2.49.
CORN
Com prices .in Virginia, up a nickel since mid-November, may pick up another two or three cents through December.
The change-over from local supplies to Western com came earlier this yeaf than in 1959 or ’60, and so did the increase to cover freight costs from the West.
Supplies of cash com in Virginia nd neighboring states seem to have been way down this year.
Overall corn production was down nine per cent in Virginia and 23 per cent in North Carolina. Most of this reduction is in com for sale as on-farm feeding requirements have changed little.
Reports from the Virginia Department of Agriculture’s grain inspection service indicates that reduction in Virginia cash com may be as much as 40 per cent.
From now on out, the Chicago com price will be the thing to watch.
Nationally, the available com supply—this year’s production plus
68.2%