High Point Enterprise Newspaper Archives Oct 22 1972, Page 18

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High Point Enterprise (Newspaper) - October 22, 1972, High Point, North Carolina Isa High Point Enterprise sunday october 22, 1972 subsidy mystery few understand Grain pricing Raleigh a one of the few non controversial conclusions that can be made about the recent u. wheat Deal is that the average american knows very Little about Grain pricing. In fact he probably knows far More about nuclear fission space travel and the rotary engine than he knows about Grain pricing particularly Export Grain pricing of the kind involved in the Sale of 400 million bushels of wheat to Russia. Perhaps least understood of All is the Export subsidy the u. S. Government pays on foreign sales of some farm commodities. Or. Everett Nichols Grain marketing economist at North Carolina state University explained that the foreign sales of some surplus farm crops such As Cotton tobacco and wheat Are subsidized to make them competitive on the world Market. A until the sales agreement with Russia was announced there did no to seem to be much interest in Grain pricing or Export subsidy payments outside of the Grain Industry itself mar. Nichols noted. A now everybody seems the Export payment program has been in effect since 1949. The underlying reason for it is that there is a difference Between the Domestic Price level and a lower world Price level. Without the payment program u. S. Grain would not be competitive on the world Market. The worlds major Grain exporting countries have an agreement that attempts to stabilize wheat prices. This or. Nichols explains is done in an Effort to avoid a Boom or Busty production. Production would skyrocket when prices reach High Levels Only to fall sharply when too much Grain is produced without such an agreement. For about two years the world Price of wheat has been holding at $1.63 $1.65 per Bushel . Gulf ports. The government Export subsidy is aimed specifically at trying to stabilize world Price at this level. The november futures Price on july 14 at Chicago was around $1.48. This is important or. Nichols explained in As much As Grain exporters buy futures contracts at the same time they sell Grain for Export. This is called a a covering the Sale. It has nothing to do with covering up a transaction to keep it secret. It is an economic move Only. The Cost of transporting the Grain from Chicago elevators to the cuff shipping Points amounts to about 20 cents a Bushel. Add this to the $1.48 futures Price that prevailed in Early july and this gives a total Cost to the exporter of $168, slightly above the i subtotal Export Price. Numa f Reid Lodge no 344 a f amp am Mckoin communication fellow Croft dog Roo Mon of 23rd 7 30 pm a Ming Macon Welcome Bubuci Simmons matter i g Updegrove Secretary ? using night watchman clock and door seals a Iii Der Jar t oui Eusi Nitt and Hom Vav ill Rev i cd. I Davis patrol amp watchman service equipped with 2-Way radio for better service Security guards phone 886-4025 see what son other channels without leaving your chair. A change channels a turn set on off from across the room simulated to reception la Motorola and White portable to Witt Remote Boniol tuning sep of it Jas slumber feature this to remembers to turn itself off if you forget. Here s How. Of you re watching a to program and fall asleep without turning off the set. When the station stops transmitting a to signal and goes Oft the air for the evening _ the slumber feature goes into action and automatically turns off the set for you. It s the Ideal to for the bedroom this portable to has Motorola s pre set picture control push one Button and automatically switch in pre set contrast and brightness Levels. And you maintain the balance even when changing channels. Big value at Only Model ap406hw. 14&Quot picture measured diagonally. Instant picture and sound. Earphone included. 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