Word: ccc
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...nightmarish prospect bestrode the dreams of all grain men, of the harassed Commodity Credit Corp., and of Congressmen who were frightened of the political repercussions of a wheat glut. The CCC, which now owns most of the old crops still on hand, had been doing its best to move it out of storage and to the Gulf ports in the hope of increasing export. But there was a limit on how fast it could be moved. This week, the Association of American Railroads, unwilling to let its cars get tied up with orphan wheat, embargoed all shipments which...
Pray for Grace. Both the CCC and most farmers had been counting on Congress to authorize emergency storage. But it appeared that the 81st Congress, like its predecessor, would not do anything in time to be of much help. The House had passed a conference bill which would let the CCC build more storage facilities, but last week the Senate turned it down, ostensibly on a technicality. (Oklahoma's Elmer Thomas charged it was torpedoed by private grain storage interests...
...months, the CCC had been warning farmers to build their own storage bins., Not many had done so. Most farmers would have to look, as they had always done, to the country elevators-and soon they would have to look elsewhere. Many farmers would have no place to put their wheat but on the ground, and nothing to do but pray that rain, rats and rot would spare...
...Farmers faced an uncertain future. Continue farm price support, said Truman ; restore CCC authority to build more storage bins...
...sold when cribbed, it would have brought $1.25. Thus Mr. Roth is $918 ahead by sealing it. If the price goes above $1.42 before Sept. i, 1949, Farmer Roth can sell it and pay his loan. If the price remains below $1.42, Roth will simply deliver the corn to CCC on Sept. 1, 1949 in full payment of loan. Many such loans as this are being made. All that is required is that the crib be suitable to keep the corn in good condition until Sept...