Kankakee Valley Post, Volume 10, Number 30, DeMotte, Jasper County, 13 June 1940 — AAA Cooperators Assured 90c Wheat [ARTICLE]

AAA Cooperators Assured 90c Wheat

Jasper County wheat farmers who are participating in the 1940 AAA Farm Program are asured of at least 90 cents a bushel for their wheat, regardless of the market price, says Art T. Kanne of the County Agriculture Conservation Committee. The 1940 loan rate on No. 2 wheat in Jasper County is 71 cents. Conservation and parity‘payments which wheat farmers may earn on the normal yields of their acreage allotments total 19 cents per bushel! Farmers who keep within their allotments and who take a loan on their wheat will thus be assured of a return of about 90 cents a bushel on their crop, Mr. Kanne said. The Jasper County wheat loan rate is slightly higher than last year. The new r loan program for wheat is nearly the same as for 1939 except that loans shall be made on a demand basis. It is not anticipated that it will be necessary to call any loans before the maturity date, he said, but in view of unsettled world market conditions, loans will be on a demand basis to keep the program in a flexible condition. Loans on wheat stored in approved warehouses will mature in eight months or on April 30, 1941 whichever is earlier and loans on wheat stored on farms mature in 10 months. As In prev -?vs years, loans will be made by the Commodity Credit Corporation. The interest rate will be three percent. Farmers may make arrangements in the County AAA office for taking out loans soon after harvest, Mr. Kanne said. Under the 1939 -wheat loan program, 26 Jasper County wheat growers were loaned $9,653.09 on 12,314 bushels of wheat.