Evening star., 1938-07-12
LOANS TO WHEAT
FARMERS MAPPED
Minimum of So Cents Seen,
Depending on Crop
Surplus.
BY the Associated Press.

OuI pIuSs
BY the Associated Press.
Federal farm oficials today began
drafting details Of Z wheat loan pro-
gram. made mandatory by the FORE
cast Of near-record crop.
Although provisions will not be an
nounced for a few days 1t was gen.
orally expected the loans would be
about SO cents bushel, the mini
mum allowed under the new Crop
Control Act The maximum Is about
86 cents.
The loans can be obtained by farm
ers who wish to store their wheat
until prices improve. They are re-
quired by law whenever the July es-
innate Of production exceeds normal
domestic and export needs Of about
$50. 900. 900 bushels.
The Federal crop reporters predict
ed yesterday q yield Of 7,l02, 900
bushels, only 41,000,0o0 bushels short
Of the record 1915 crop.
Must Export Grain.
Agricultural Adjustment Admins
traitor H. r. Tolley said storage of
wheat under Government loans was
not the only method the administra-
ton expects to employ to combat the
surplus problem.
We've got to export q lot Of wheat"
he said
The administrator said considera-
tion was being given. among others.
to proposals to subsidize exports Of
the grain but that no decision had
been reached.
Exports of 1897 wheat totaled about
$4,000, 900 bushels. Administrator Toll
ley said present prospects for exports
during the next IL months did not
exceed 100, ,000, 900 bushels.
A third step In the surplus re-
moval, he explained, will be promul-
cation this week Of a program for .
small wheat crop next year. Growers
may be asked, he said, to plant only
IS 100000 acres, compared with TO-
100000 seeded for this years crop.
Farmers would have to abide by re-
duced acreage allotments in order to
be eligible for wheat subsidy pay
ments. which may total about $780,
100000.
Corn Depends on Weather.
Whether the Agriculture Depart
ment will have corn surplus problem
will be determined by weather condi-
tions during the next three weeks.
The Crop Reporting Board forecast q
yield Of 2,482,1o2, 900 bushels. ON
cials said II this estimate was borne
out by the August report, it might be
necessary to propose marketing quotas.
If approved by two-thirds of the
corn belt farmers voting in . referen-
dunn, the quotas would require pro-
ducers to store . certain percentage
Of their crop or pay stif1 penalty taxes.
If harvest figures bear out the wheat
forecast. the bread-grain supply for
the next IL months would be about
1.167, Az, 900 bushels, including an es-
timated surplus Of 0,00o, 900 bushels
from last year. Thus . surplus Of at
least All, ,000, 900 bushels above normal
| AASCOS 10 A1SANotCO, COAAp0ACO WAV1 tAAC
record of 378, ,000, 900 in 1892.
The wheat estimate vas about 45,-
000, 900 bushels below that Of . month
ago, when the largest on record was
forecast. The reduction was attributed
to rust and frost damage to winter
wheat in the Great Plains area.
71S,42s,ooe Bushels Forecast.
The winter wheat production was
forecast at It's, ,425, 900 bushels, CON-
pared with 6S5. .102, 900 bushels har-
vested last year and with July, 1887,
forecast of 8s2, 1881, 900 bushels. The
forecast for durum wheat was $780,
900 bushels, compared with 27,79l 900
produced last year and with q July,
1887, forecast Of 29,566, 900 bushels.
The forecasts for other spring wheat
was 1851 900 bushels, compared with
last years crop Of 161. 100000 bushels
and with the July, 1887, forecast Of
189 .080, 900 bushels.
The indicated corn crop was 162,-
$4,000 bushels below last years pro-
duction. but 5000, 900 bushels above
the 1927-36 average. Stocks Of 1887
corn on farms July were estimated
at $40, 1851 900 bushels. The l927-36
average of corn on farms on that date
was 405, 1892 900 bushels.
The crop report predicted tobacco
production considerably in excess of
marketing quotas established under
the farm act and approved by farmer
referenda this spring.
The report said that 1898 crops
had made a remarkably good start
and that supplies Of most food crops
seemed likely to be ample. Large yields
OF hay, oats, sorghums, rye, rice, sweet
potatoes and peanuts were indicated.
However, a light apple crop was FORE
seen.