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The present situation infeed grains is one of no appreciable surplus but a cash market that has over-reacted to prospects of a big feed grain crop this year. The result, he said is | substantially lower prices this ) year than last. j The irony of the situation is ! that a year ago there was real
I concern that there might be a | shortage of feed grains this
!fall. In fact, he said, many people advocated all-out production for 1967 and wanted Secretary Freeman to take all acreage diversion requirements out of the feed grain program for this year. Had this happened the 1967 corn crop would have been at least 1.2 billion bushels larger than what is now indicated and prices would have been substantially below present levels. Under the 1967 program, cooperators reduced their plantings by 20 percent of their base acreage.
The job for feed grain producers now is to market their feed grain crop with care in an attempt to avoid weaknesses in the harvesttime market. He said last year farmers helped themselves a great deal by holding back their corn and soybeans and not rushing them to market. Mr. Barksdale suggested that farmers make maximum use of the price support loan program again this year in order to :arry their crops for a longer period of time.
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