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...Secretary Ezra Taft Benson will peg prices at an average 76% of parity, v. 82½% this year. If farmers kick over the quotas, the support price will automatically drop to 50%. Benson's reasoning on the 76% figure: with forecasts for the smallest wheat crop (845 million bu.) in twelve years, 1956 will be a good year to cut down the mountain of surplus farm products that the U.S. must now buy under its support program...
WINTER-WHEAT FORECAST has the Agriculture Department worried. Estimates are that this year's crop will be down 17% from last year's 790,700,000 bu. and 25% below the ten-year average, largely because of acreage cutbacks and a severe drought in the Texas-Nebraska wheat belt. Agriculture Secretary Benson is afraid that farmers will vote down controls this year, thus kick over high price supports in favor of higher acreage...
WHEAT GLUT is still growing, will push up another 75 million bu. by the end of fiscal 1955, predicts Agriculture Secretary Ezra Benson. Estimated total for Benson's No. 1 surplus headache: 975 million bu., most of it in Government storage bins...
After the show, the petition passing started again. A firm looking man cornered a BU student outside and asked him to sign a pro-McCarthy circular...
...news that 1954's cotton plantings, which had been cut 21% under 1953's. largely as a result of Government controls, would produce only 12 million bales v. 16.5 million last year. But corn production, despite a 17.4% cut in acreage, was estimated at 3.3 billion bu., about 135 million more than last year's crop and nearly 255 million higher than the ten-year average...