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This year’s Virginia crop is bidding for a record yield of 68 bushels per acre. This will give the state a per cent production increase over last year, Prospective production totals 31,320,000 bushels in Virginia. The October 1 production forecast for the United States is 3.51 billion bushels, which is three per cent below last year. A decrease in carryover along with lower production brings the total supply down eight per cent from 1961. Under normal conditions Virginia produces a cash corn crop which fills domestic needs until about January. This year supplies of locally produced cash corn may be reduced earlier because of additional demand to the north where bad growing weather has resulted in smaller crops.
Last week prices for No. 2 yellow corn in Richmond were 31.10; Norfolk, $1.17 to $1.18; Northern Neck $1.12 to $1.14; Shenandoah Valley $1.34 to $1.36.
Soybeans
There may be adjustments in Virginia soybean prices when volume movement gets underway, but these are expected to be minor.
There was a trickle of movement to markets last week, but heavy combining is not expected until after the first frost.
The USDA Crop Reporting Service has reduced its forecast for Virginia. This year’s crop is still expected to set a new record with 7,833,000 bushels but will be one per cent over last year.
The U.S. forecast is three per cent below last year’s record crop. However, a 55 million bushel carryover will put the tota\ supply four per cent above last year.
Most of Virginia’s crop goes into export as whole beans, and indications are that export demand will continue strong.
Prices last week were: Richmond, $2.19, Baltimore $2.30, Northern Neck $2.25 and Tappahannock, $2.20.
Deeds Recorded
John J. Britton to James R. and Blanche C. Oliver, Lots No. 10 and 12 in Block 3, on Plat 6, Section F., Blue Ridge Mountain Estates, Wakefield District.
Allen C. Byers to Joseph E and Ruth L. Bell, Lot No. 4 ii Block 2, Section F, Plat 6, Blue Ridge Mountain Estates, Wake| field District.
75.6%