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CHECKS totaling $32 million in final payments under the 1972 wheat program will be mailed to ap- - proximately 976,000 participating farms, the U. S. Department of Agriculture (USDA) has announced.
This year, USDA officials point out, “market influences have been strong, capped by the historic and unprecedented sales to the Soviet Union.” As a result, wheat producers have obtained more farm income from the marketplace and relied less on federal payments.
Prices received for wheat in mid-November averaged $1.97 per bushel — 66 cents per bushel above the mid-November prices of a year ago. The net value of this year’s wheat crop, including payments made to farmers under the set-aside program, is expected to reach $3.3 billion, about a quarter of a billion dollars more than the 1971 crop.
The December payment is in addition to $691 million mailed to wheat producers in July.
THE DECEMBER payment — 6 cents per bushel — is the difference between the face value of the certificate determined to be $1.34 per bushel — and the preliminary payment of $1.28 per bushel mailed in July.
The face value of the certificates is the difference between 100 percent of the July 1 parity price of $3.02
94.6%