The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1940-12-05
Farm News
From the County Agent, St. Cloud :.

LIE lOdu dI IilO Cuu VI IuC oCSoAlu
year - during August, September
and October, 1942-upon 80 days
written notice to the AAA commit
tee for his county.
In case a farmer loses possession
Of the farm on which the corn is
stored or receives written notice
from his landlord requesting re-
moval Of the corn from the struc-
ture in which 1t Is stored, he may
deliver the corn in settlement of
his loan during August, September
or October, 1941, again provided 30
days notice is given to the county
AAA committee. This provision is
expected to encourage landlords to
cooperate with tenants in the three
year loan program. I'm order that
short term loans may be avoided,
the one-year delivery option is avail
able only on loans obtained before
April 1, 1914.
out the loan period on ear corn and
from July I, 1941 to September 30,
1911, on shelled corn which has
been thoroughly dried in crib stor-
age before Smelling. To be eligible
for loan, corn must grade No. 3
or higher, except for moisture con-
tent and test weight. Nahum
moisture content acceptable in loan
corn will vary with the time the
loan is obtained, as follows: car
corn, between December 1, 1910,
and February %, 1941, 20k percent;
ear corn, between March 1, 1871,
and April 30, 1914, 17h percent;
ear corn between May 1, 1914, and
September 80, 1911, 15h percent;
shelled corn, between July 1, 1911,
and September 80, 1914, 1917 per-
cent.
A bushel of ear corn will be 2h
cubic feet of corn testing not more
than 1914 percent moisture content.
In case Of ear corn offered as col
lateral with a moisture content Of
more than 1914 percent but less
than the maximum acceptable,
loans will be made at the full rate
per bushel but deductions will be
made in the total volume to offset
the shrink that will occur as the
corn dries. A bushel of shelled
corn will be IN cubic feet Of corn
testing not more than 1914 percent
moisture content.
Loans may be made by approved
local lending agencies which may
hold corn loan notes until the corn
is redeemed by the borrower or
until the loan natures. The in
terest rate on loans will remain at
8 percent, with half this amount
being paid to the local lending
agency.
The procedure under which coun-
ty AAA committees will handle
loan details has been further SIM
plified. AS in 1889, a farmer will
usually be able to complete ar
rangements for a loan in one visit
to his county committee office.
Corn loans are made in connec-
ton with the AAA Farm Program
to stabilize prices by enabling
farmers who cooperate in the pro-
gram to market their corn In an
orderly manner, rather than releas-
ing the corn on an over-supplied
market at harvest time. They also
make possible the establishment of
an Ever-Normal Granary reserve
supply of corn that protects both
farmers and consumers against
shortages.
The rate announced Is mandatory
under the Agricultural Adjustment
Act Of 1888 in view of the Novem-
Der corn crop estimate and latest
estimates on the national average
corn price. The Act provides that
loans shall be made at IS percent
Of parity in any year when the
corn crop is more than a normal
years domestic consumption and
exports and the price on November
Is or at any time thereafter dur
ing the marketing year is less than
IS percent Of parity.
The November crop estimate in
dicated a 1910 corn crop Of 2,434
million bushels, or less than nor
NAL years domestic consumption
and exports for 1940-41 estimated
at 2,490 bushels. The November
Is national average farm price Of
corn is estimated at $50 cents per