$2 Billion Export Boost Through Bonus Commodities
Agriculture Secretary John Block unveiled a three year export enhancement program to supply up to $2 billion in government owned commodities to U.S. exporters aiming to expand sales in Europe. The plan, backed by Sen. Edward Zorinsky, seeks to reduce surplus with a watchdog advisory board and uses the surplus as a discount to boost overseas competitiveness. Senate panel approved supporting legislation to lock the program in law.
MENTIONED IN THIS ARTICLE
Washington
John Block
U.S
Europe
Edward Zorinsky
D-Neb
Senate Agriculture Committee
Zorinsky
Senate
Robert Dole
Kan
Secretary of Agriculture
Feds restrict withdrawals at 3 ailing PCAs
Federal officials froze stock withdrawals at three Iowa Production Credit Associations in Newton Clarinda and Creston to stabilize finances. The move affects member stock withdrawals but not farm borrowers and aims to protect capital while the PCAs review credit positions and await possible additional aid.
MENTIONED IN THIS ARTICLE
Feds
Kent Parker Gazette
Iowa Production Credit Associations
Pcas
Federal Intermediate Credit Bank of Omaha
Newton
Clarinda
Creston
PCA
Intermediate Credit Bank
Maurice Russel
Central Iowa Association
Russel
New farmland tax rules factor county production in Iowa
Iowa Department of Revenue will assess farmland by each county's actual crop production rather than statewide averages. Gov Branstad pressed for change after drought protests in southern Iowa. Rules approved by the Legislative committee. effects on county assessments and local levies remain to be seen.
MENTIONED IN THIS ARTICLE
Des Moines
Iowa Department of Revenue
Gene Eich
Property Tax Division
Terry Branstad
Ment
Iowa
Administrative Rules Review Committee
Eich
Market roundup Cedar Rapids grain and livestock prices
The Cedar Rapids cash grain market mixed corn beans and oats with quotes to processors at 2 30 p m. Buyers show mixed sentiment as some higher asks deter bids. Central U S meat trade reports higher steer carcasses with stronger boxed beef values and various hog, pork, and cattle price ranges. Regional notes cover Iowa grain prices, livestock totals, and day to day trading activity.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Livestock Prices Tuesday Report Cattle Hogs and Veal
Livestock Tuesday shows 222 fat cattle with steers top $60.30 and high goods 1 025 to 1 345 lbs at $58 to $59.90 Heiter top $57.20 with 900 to 1290 lbs. Holstein steer top $52.75 and range $50 to $52.70 for 1 110 to 1 545 lbs. Cows cut to $44.75 with utilities $40 to $44 and canners $34.75 to $39.75 Slaughter bulls 1 400 to 1 805 lbs $44 to $47.75 Veals and calves $40 to $68 cwt Sows 350 to 500 lbs $35.25 to $36.50 500 to 645 lbs $37.50 to $38.75 Boars $32.25 to $33.50.
MENTIONED IN THIS ARTICLE
U.S
Union cites record low farming buying power in parity ratio
The National Farmers Union says farmers face the worst purchasing power in over 50 years as the Agriculture Department reports a 53 percent April parity ratio. Wheat at farm level averaged about 3.40 per bushel, about 48 percent of parity.
MENTIONED IN THIS ARTICLE
Union
Washington
National Farmers Union
NFU
Agriculture Department
Capitol Hill
USDA
Iowa farmers near 90 percent corn planted by week’s end
Des Moines reports 90 percent of Iowa corn planted by the end of last week, up from 29 percent at the same time last year. Soybeans have 25 percent planted, compared with 3 percent last year and 8 percent normally. Warm week with rainfall on May 11. 3.30 inches at Keosauqua, light elsewhere. Livestock in very good condition. pastures split with 51 percent good and 15 percent excellent. Over 96 percent of fertilizing and tillage complete though spraying hindered by wind.
MENTIONED IN THIS ARTICLE
Des Moines
Iowa Crop and Livestock Reporting Service
Iowa
Keosauqua
Bumper harvest could spark sharp drop in corn prices
Illinois analysts warn a potentially record corn harvest this year may push prices down, with Dan Zwicker of the Illinois Farm Bureau predicting a very bearish September for corn. He cites early planting, favorable weather, and large government loan maturities as factors shaping output and prices. Soybean outlook remains uncertain, with prices possibly dipping below five dollars if a 2 billion bushel crop is produced.
MENTIONED IN THIS ARTICLE
Bloomington, Ill
Dan Zwicker
Illinois Farm Bureau
Zwicker
Illinois Farm News Association
Soviet Union
Gary Ellis
Farm Bureau
Also Mentioned on This Page
Block
David Lynch
Washington Bureau
European Economic Community
Jesse Helms
R-N.c
Uncle Sam
Charles Stenholm
Texas
Jim Ross Lighfoot
Sen
Central Iowa Pca
Clarinda Pca
South Central Pca
The
Elinora Scheffler
Minnesota
Renville County
Scheffler
Richard
Gazette
Des Moines Bureau
Midwest
E.I. Livestock
Farmstead Foods
Ray Zamostil
Mid-America
Russ Olson
Fairfax Slaughter
C.R. Grain
Tan Je
U.S. West North Central States
Choice
Bulk
Lowa
Iowa Department of Agriculture
Omaha
Chicago
Chicago Board of Trade
Bnee Ar
Jules
Joliet
Sioux, City
Pro Farmer Grain
Federal State Market News Service
N.central
Northeast
Southwest
Central
Southeast
Chicago Mercantile Exchange
Ibe Centerer Ib
Manchester
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