Word: bu
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...looked forward to smooth plowing for his soil-bank program. He needed to rally the corn farmers to the program with more enthusiasm. And to do this, he was prepared to allocate considerably more acreage to the cornmen-though with a lower support price ($1.31 v. $1.36 a bu.)-if only the farmers would renounce the surplus-building system of the old acreage-allotment plan. Last week corn farmers put Benson's new plan to a vote. Result: in the 894 commercial corn counties in the U.S., cornmen stubbornly failed to give him the necessary two-thirds approval...
...outlined by Agriculture Secretary Ezra Taft Benson, the agreement calls for India to pay about $200 million for 130 million bu. of U.S. wheat (more than 15% of the U.S. surplus), $70 million for 500,000 bales of cotton, $26.4 million for 440 million Ibs. of rice (more than 20% of the total U.S. Government rice stocks), $6,000,000 for 6,000,000 Ibs. of tobacco and $3,500,000 for dairy products...
...major crop that will be bigger (by 2,200.000 bu.) this year than last is wheat, but the wheat farmer also can look forward to higher prices. The Department of Agriculture has announced that, effective Sept. 4, it will stop cut-rate sales of wheat from Government stocks and thus force exporters to buy on the open market. This could boost market prices to nearly 100% of parity...
Another Iron Curtain country took an obliging bite out of Canada's Worrisome wheat surplus last week. Shortly after Soviet Russia had signed a three-year contract to buy 100 million bu., Czechoslovakia placed an order for up to 11,800,000 bu. Poland had already ordered 12,950,000 bu., and Hungary was reported ready to buy some 3,000,000 bu. Prospects looked good that Canada would unload nearly 15% of her wheat surplus to Communist customers...
...flexible price supports, acreage allotments, marketing quotas. But he was running a losing race against the technology of farming. With bigger machines, better seed and fertilizer, farmers produced enough to feed a much bigger population, and the nation's surpluses mounted-14.5 million bales of cotton, 938 million bu. of wheat, 3.2 billion bu. of corn. Inevitably, farm prices skidded, and gross farm income dropped to $32.6 billion, down $4.5 billion in four years...