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To Make Wheat
Certificate Payments
Wheat farmers participating in the 1968 wheat program soon will begin getting program payments, H. S. Barksdale, Chairman, Agricultural Stabilization and Conservation County Committee, said today. The payment in Rappahannock County will be made to producers on about (20) farms and will total around $7000.
By law, program participants are guaranteed 100 percent of parity for their share of the wheat used for domestic food. The certificates for 1968 crop wheat will be valued at $1.38 per bushel, compared with $1.36 a bushel for the 1967 wheat crop. This represents the difference between parity for the 1968 wheat crop ($2.63 per bushel) and the national average loan rate of $1.25 per bushel. The certificate payments to farmers are based on the projected production of the planted acreage up to 40 percent of the farm’s 1968 wheat acreage allotment.
Certificate payments add substantially to the income farmers receive from marketing their wheat crop while permitting support of market prices through loans at levels more competitive in world trade channels. Nationally, the certificate payments under the 1968 program will be made to producers on approximately 837,000 participating farms, and will total about $730 million.
When related to the toal production on the 49.2 million allotment acres on participating farms (about 85 percent of the 1968 national allotment), the $7 30 million in certificate payments reflects an additional income of around 55 cents on each bushel produced by participants. The total average return per bushel will depend on the price farmers receive in the market from their 1968 crop.
The Chairman explained that an individual farmer participating in the wheat program can determine his total return per bushel for wheat by dividing his certificate payment by his total production to get an average per bushel payment, by adding this to the price he receives in the market, he can find his return per bushel.
Millers and others purchase wheat marketing certificates at 75 cents per bushel to cover the quantities of wheat processed for domestic food use. The remainder of the certificate payment is made up by the Government.
NOTICE
Rappahannock Farm Bureau and the Rappahannock National Bank will sponsor transportation for local farmers to attend the Animal Industry Day at Blacksburg on July 26th.
For reservations call the County Extension Office (675-3619) at once. Also, advise if your car will be available.
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