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STATE
GUERNSEY
SALE lARN
Oats
WASHINGTON, D.C. -
The national average
market price for oats has
reached $1.51 per bushel, the
level requiring the U.S.
Department of Agriculture
to call the commodity from
the old farmer owned grain
reserve, Secretary of
Agriculture Bob Bergland
said last Friday.
Calling loans on oats in the
reserve means that farmers
have 30 days from the date of
notification of the call to
repay their old reserve loans
called from grain reserve
or convert them to new
reserve agreements.
Under the grain reserve
program, farmers own the
commodities and are not
required to sell their grain.
If they do not repay the loan
or convert to new reserve
agreements, however, they
must forfeit the gcain to the
Commodity Credit Cor
poration. About 33 million
bushels of oats are in the
farmer-owned reserve,
including 22 million bushels
under old reserve
Lancaster Farming, Saturday, June 7,1980—E9
agreements.
County offices of USDA’s
Agricultural Stabilization
and Conservation Service
will officially notify
producers their grain has
been called and the date by
which the loan must be
redeemed or placed under a
new agreement.
Under the farmer-owned
grain reserve program,
established by Congress in
the Food and Agriculture
Act of 1977 and designed to
stabilize marketing, farmers
are eligible to place wheat
and feed grains into a
reserve during periods of
low prices. In return, far
mers receive CCC price
support loans on the grain in
reserve as well as annual
storage payments. If prices
rise to the “release” level,
farmers can repay the loan
and market the crop without
incurring a penalty.
The call level for feed
grains under the old reserve
program is 140 percent of the
national average loan rate
and under the new reserve
program 145 percent. The
1979 loan level for oats is
$l.OB per bushel.
Data used by CCC in
determining the call level
includes a daily report by the
Agricultural Marketing
Service which shows prices
at selected markets, and a
month-end Economics,
Statistics and Cooperatives
Service report of prices
received by farmers
showing the previous
month’s average price and
the current mid-month
price.
The markets reviewed by
CCC for oats are Chicago
and Minneapolis.
Strip tests prove it Cattle
prefer Pioneer • brand sor
ghum-sudangrass tivbnd over
other brands That means
they'll eat more make
more meat or milk Unbeat
able hot-weather pasture or
green-chop Can be planted
on diverted acres
Treat your cattle to the
sorgluini-sudangrass hybrid
they like best - 988'
PIONEER SEED SALUTES
THE DAIRY FARMER
DURING JUNE DAIRY MONTH
SEE or CALL
YOUR PIONEER DEALER
m
PIONEER
SORGHUM
Pioneer is a Brand nane number'
identify varieties • Registered trade
mark of Pioneer Hi Bred International
Inc Oes Moines lowa USA