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action to alleviate depressed prices
ST. LOUIS, Mo. - The
American Soybean Associa
tion has urged congressional
leaders to take swift action
to alleviate depressed soy
bean prices accentuated by
USDA’s selling of em
bargoed soybeans.
“We have waited three
months for President Carter
to fulfill his promise that
farmers would not bear the
full burden of the Soviet em
bargo,” said ASA President
Allan Aves.
“Instead of fulfilling that
pledge, the government has
started to sell huge quan
tities of the embargoed soy
beans. As a result, soybean
prices have dropped nearly
(dD cents a bushel m the past
'Week.
“After consulting other
ASA grower-leaders, I have
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YOUR LOCAL COUNTY OFFICE.
Soybean Association asks swift
decided to ask Congress to
undo the considerable
damage which the Carter
Administration has leveled
on American soybean
growers. I have sent
telegrams to Senator Her
man Talmadge, Con
gressman Tom Foley and
members of the House and
Senate agriculture commit
tees urging them to take im
mediate action to end this
burden which has already
cost U.S. soybean growers
over $1.5 billion.”
In his telegram, Aves ask
ed Congress to take the
following action:
Implement the six-point
program to sell soybeans
which ASA
had proposed to Agricultural
Secretary Bob Bergland on
January?.
The program included in
creasing CCC export credits
by $298 million; increasing
Food for Peace (PL4BO) fun
ding; implementing
intermediate-term credit
provisions of the
Agricultural Trade Act of
1978; making CCC export
credits available to the Peo
ple’s Republic of China;
creating a $5 billion revolv
ing fund for CCC export
credits; and increasing soy
bean market development
funding by $6 million over
the next three years.
Although only the market
development funding would
require federal outlays, ASA
has received no positive
response to its January 7
proposals.
Take action to remove the
cross compliance provisions,
thus making all soybean
growers eligible for the soy
bean loan program.
Increase the soybean loan
level from the current $4.50
to $5.02 to provide farmers
with an additional source of
capital to meet increasing
production costs. Rather
than serving as a guaranteed
minimum price and to avoid
becoming a price ceding,
ASA believes the loan level
should represent 65 percent
of the national average cost
of production.
Although USDA has yet to
release 1980 production cost
estimates, ASA has based its
$5.02 loan level request on
figures secured from land
grant universities.
Take action to sell the
CCC-purchased Soviet soy
bean contracts to developing
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Lancaster Fanning, Saturday, April 12,1980—D15
nations rather than
unloading the contracts on
the U.S. market which has
further depressed prices.
“The Soviet embargo,
which is providing to be an
unmitigated disaster for
American soybean growers,
is having little impact on the
Russians,” Aves told the
congressional leaders.
“Even USDA admits that
the Soviets will get all but 2
million tons of their needs.
The embargo had
dramatically lowered U.S.
farm prices and, like the 1973
and 1975 embargoes, has en
couraged increased soybean
and grain production in
Brazil, Argentina and other
competing countries.
“Soybeans are the No. 1
U.S. agricultural export and
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generated over $7 billion in
foreign sales last year. It ap
pears that only Congress can
undo the damage created by
the Carter Administration
and we have urged congres
sional leaders to take swift
action to alleviate the cur
rent crisis in the farm com
munities of this nation,” be
said.
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