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New Minimum Pricing Policy for CCC Grains
The U S Department of Agriculture announced a new minimum pricing policy for Commodity Credit Corporation grains. The minimum resale price rises to 115 percent of loan rates plus monthly carrying charges for most CCC sales for domestic use and applies through the 1967 marketing year for wheat. Exceptions include disaster livestock feed use and certain restricted exports. Chairman Richard C. Sealey noted market prices exceed the new minimum in most cases and linked Food for Peace adjustments with India. Winter wheat plantings rose about 26 percent from 1965, with the 1967 wheat allotment up 32 percent to encourage higher production.
MENTIONED IN THIS ARTICLE
U. S. Department of Agriculture
Commodity Credit Corporation
Richard C. Sealey
Polk County Agricultural Stabilization and Conservation Committee
Sealey
India
Usda Crop Reporting Service