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Weekly Farm
Price Oulook
(Thi» la the way prospects for Virginia farm prices looked to the Virginia Dept, of Agriclnture on Friday. The Department offers it to farmers with the warning that ns one can predict prices and be right all the time.) (This is the way prospects for Virginia farm prices looked to the Virginia Department of Agriculture on Friday. The Department offers it to farmers with the warning that no one can predict prices and be right all the time.)
Wheat Wheat prices are not expected to take the usual seasonal downward trend as this year’s crop is harvested. This should hold true primarily because of an improvement in the supply picture, a recent 20 cent decline in wheat prices and a shortage of other small grains. Spring wheat production for the U. S. is expected to reach a total of 230 million bushelsdowh 17 per cent from last year. Total wheat production, both winter and spring, should be a little over one billion bushels, or 1 per cent less than last year. Support price for wheat should run from $1.96 to $1.00 for farmers who stay, ed within their allotments. It is expected, however, that about one-half of the amount of wheat sold in Virginia will not be eligible for support price. Harvesting of Virginia’s crop will begin this week and production is expected to be down 5 per cent from last year in spite of a 4 per cent increase i n acreage. Prospects are for a good quality crop, however. Last week's prices for No. 2 grade Red Winter were
88.1%