Farmers Forecast Record Corn and Soybean Crops for 1974
The September crop report projects corn at 5.8 billion bushels and soybeans at 1.6 billion, both record highs. Despite high prices limiting expansion, 1974 grain output is expected to rise with corn reaching about 6.3 billion bushels and wheat up 110 million, signaling an 85 percent larger crop.
Government Ends Limits to Boost Crop Output in 1974
The 1974 farm program removes set asides and acreage restrictions to spur record grain, wheat, and corn production. Foreseeable gains include 11.4 million more acres planted, with soybean area shifting to cotton and world demand impacting prices and exports. Uncertainties linger over foreign demand and expanding trade with the Soviet Union and China.
MENTIONED IN THIS ARTICLE
U.S
Soviet Union
Peoples Republic of China
Grain outlook and famine concerns shape 1973 farm report
The Lancaster Farming overview analyzes drought risks in India Pakistan Bangladesh and Africa and the U.S. role in aid amid a strong export year. It forecasts high prices and a 21 percent rise in net farm income with 530 million bushels of wheat used for food in 73 74 and notes no domestic shortage unless price controls recur.
MENTIONED IN THIS ARTICLE
India
Pakistan
Bangladesh
U.S
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