1980-81 wheat Reserve LANCASTER banners who have 1981 wheat and/or 1980 loan wheat may now place the crop into GramKeservelV. Secretary of Agriculture John Block has announced Gram Reserve IV as a means to improve the farm price of wheat. The United States, has a record estimated'2.7 billion bushel wheat crop for 1981. The huge crop and somewhat sluggish exports have caused wheat prices to be quite low. Provisions of the program in clude: 1 t' Agreement - Farmers may agree to store wheat on the tarm or in an eligible warehouse tor a minimum of three years. s Loan Rate - Farmers will receive a loan on the gram at $3.47 per bushel. Storage Rate - Farmers in Reserve IV will receive $.265 per bushel per year as a storage payment. First year storage is paid at the tune of entry into the reserve. You get more than money, you get the services of a friend at Hamilton Bank. Hamilton Bank believes that agriculture is the backbone of America.. .that the family farm is the cornerstone of agriculture in our area, that’s why one of the bank’s primary objectives is to serve - and help preserve - the family farm. That’s why Hamilton Bank has developed an entire range of financing, credit, trust and estate services. And our Hamilton Bank manager extends these services - right to your home. You probably know your Hamilton Bank Manager already - he’s a neighbor, a friend. He knows that with the value of farm production Daniels. Sloltzfus, Mount Joy, R.D. #3,-discussing his 100 cow Hoistemdairy herd in the milking parlor with Robert £ Kline, Assistant Vice President and Manager, Mount Joy Office, and Brent Shunk, Member of Lancaster Regional Advisory Board of Directors. lnterest Charges - Interest will be charged on the loan tor the first 12 months at the then current CCC interest rate. The current rate is 14.5 percent per annum. ✓ Reserve Release - Producers may repay their loan and sell the gram when the national wheat market price reaches $4.85 per bushel and the release is an nounced by the Secretary- of Agriculture. Early Release - There will be an early redemption charge for producers who wish to sell their gram before the three-year period expires and the wheat is not in a release status. Wheat fanners with available 'storage space may wish to con sider using the Reserve as a means to mcrease their price for .1980 or 1981 wheat. The Reserve also provides mcome now and permits Uie producer to retain ownership of the gram for future market con siderations. Farmers interested in Gram Reserve IV should contact their county ABCS office. rising every year the need for capital goes up with it. And the need for sound financial planning rises, too. He’ll sit down with you, in your home, and discuss the full range of services that we’ve designed to help you meet your obligations now, and help you increase what you have to pass on to the next generation. Your Hamilton Bank manager will work with you in a relationship of mutual trust, and help family farm secure and productive. If you believe that agriculture is still the backbone of America, talkto your friend at Hamilton Bank. You’ll find he feels the same way. HARRISBURG - Penn sylvania’s 1981 production of corn for grain, winter wheat, oats, barley, soybeans, tobacco, hay and pears should all be above last year based on August 1 conditions, according to the Pennsylvania Crop Reporting Service. Production of peaches and apples is expected to be below last year’s level. This year’s estimated produc tion, yield and percentage change from a year ago are as follows; com - for grain, 126.4 million . bushels at 95.0 bushels per acre, up 32 percent', .winter wheat, 9.7 million bushels at 36.0 bushels per acre, up five percent; oats, 19.6 million bushels at 56.0 bushels per acre, up three percent; barley, 4.4 million bushels at 54.0 bushels per acre, up 17 perent; soybeans for beans, 3.1 million bushels at 31.0 bushels per acre, up 23 percent; esrr<r HAMILTON BANK Formerly AJat/onal Central Bank State forecasts better year for crops Tobacco, 25.8 million pounds at 1,900 pounds per acre, up five percent; rye, 374,000 bushels at 34.0 bushels per acre, down 14 percent; grapes, 56,000 tons, no change; pears, 38,000 tons, up nine percent; apples 450 million pounds, down 21 percent; peaches, 65 million pounds, down 38 percent Total hay production is forecast at 4.3 million tons, uprtwo percent from a year ago. Average yield indicated for alfalfa and alfalfa mixtures for hay is 2.80 tons per acre while all other hay is 1.80 tons per acre. Pasture condition throughout the commonwealth averaged 86 percent, nine percent above a year ago and two percent above the 1970-79 average for this date. Total U.S. production is forecast at a record 2.75 billion bushels, two' percent less than July 1 forecast but 16 percent more than last year. Lancaster Farming, Saturday, September 5,1981—A25 BUCK TRACTOR PULLS EVERY SATURDAY NIGHT AT 7 P.M. Featurng... 8 Classes of Super Stock and Modified Tractors and 4-Wheel drive Trucks 6 to 12 yrs. - —1.50 Loci 10 Miles south ot 5 and under-FREE Lancaster on Rt. 272 -v Does not include SEE YOU AT special events. JH|T BUCK! The winter wheat crop is now forecast at 2.06 billion bushels, down one percent from the July 1 forecase. Corn for grain production is forecast at 7.73 billion bushels, nine percent above the July 1 forecast and 16 percent greater than last year’s crop. Sorghum grain production is forecast at 833 million bushels, up 42 percent from last year’s production. Soybean production is forecast at 2.02 billion bushels, 11 percent larger than the 1980 crop. Hay production is forecast at 138 million tons, a five percent in crease from 1980. Pasture and range feed condition on August 1 average 82 percent, 22 points above a year ago.
Significant historical Pennsylvania newspapers