Corn reseal extended and storage rates cut by USDA
USDA announced on May 12 that the farm stored crop reseal program will include the 1961 corn crop for another year. CCC stock should cover disposition needs, with 1961 corn loans possible if needed. Farmers may extend 1961 price support loans to July 31, 1966. Storage rates for older stocks are reduced, lowering the daily and yearly rates for grains under reseal and in commercial storage, affecting 1963 and prior crops as well as 1964 crops.