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1963 ASC Grain
Report Given
Thus, farmers taking part in the 1963 feed grain program will receive price support partly through loans and purchase agreements and partly through an extra price-support payment. While rates of the loans vary by counties, the pricesupport payments are the same throughout the country. Loans and purchase agreements on the 1963 crops will reflect national average prices of $1.07 per bushel on corn, $1.71 per hundredweight on grain sorghum, and 82 cents per bushel on barley. Rates of the pricesupport payments have been set at 18 cents per bushel on corn, 14 cents per bushel on barley, and 29 cents per hundredweight (16 cents per bushel) on grain sorghum. The price-support payments will be made on the normal production of the 1963 acreage of the three feed grains; the payments will be made on the feed grains that are fed to livestock as well as that part of the crop which is cold. The chairman pointed out that participating farmers will be able to put all of their 1963-crop corn, grain sorhgum, and barley under price-support loans and purchase agreements. This is in contrast to provisions of earlier feed grain programs which limited price support to the normal production of the acreage. Oats and rye are not included in the 1963 feed grain program, thus no payment is provided and no reduction in acreage is required in order to be eligible for pricesupport loans or purchase agreements.
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