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Wheat program terms outlined for 1966 by Freeman
Secretary Freeman announced the 1966 wheat program under the 1965 Food and Agriculture Act. It offers higher returns per bushel, with no fall signup for winter wheat and unified signup with the feed grain program after the new year. Farmers may receive a $1.25 per bushel loan and domestic certificates on 45 percent of projected yield, plus a parity-based certificate value, with options including substituting crops, overplanting up to 50 percent, and bond storage. A cost of 75 cents per bushel for certificates to processors and an export certificate mechanism adjusted to world prices are included, plus a potential export subsidy if needed.
MENTIONED IN THIS ARTICLE
Orville Freeman
Congress
Raymond L. Davis
Agricultural Stabilization and Conservation County Committee