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establishes a preliminary payment of 32 cents per bushel for corn and 29 cents per bushel for grain sorghum times the yield established for the farm times one-half the corn and grain sorghum base.
Payments to participating feed grain producers will begin as soon as possible after July 1. The certificate payment rate for wheat will depend on the final parity price for wheat and the actual market price received during the first five months of the marketing year. The loan level for wheat will be $1.25 per bushel, national average. Producer^ will get preliminary payments equal to 75 percent of the estimated face value of the certificate soon after July 1. The remainder will be paid after December 1, 1971.
In 1971, acreage planted to soybeans will not be considered planted to wheat or feed grain.
The Agricultural Act of 1970 provides the Secretary of Agriculture with authority to allow the planting of certain crops on set-aside acreage. The law states he must determine that such production is needed to provide an adequate supply, is not likely to increase the cost of the support program, and will not adversely affect farm income.
Feed grain and wheat producers who wish to qualify for program benefits must sign up to participate during the period March 1 through April 9, 1971.
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