WHEAT STABILIZATION PROGRAM (FINANCED BY COMMODITY CREDIT CORPORATION) A. Description of current program Title I of the Agricultural Act of 1961, Public Law 87-128 (75 Stat. 296-301), provides for payments to producers who divert acreage from wheat to approved conservation practices or uses. Title III of the Food and Agriculture Act of 1962, Public Law 87-703, approved September 27, 1962, provides for similar payments to producers for diverting acreage from the 1963, 1964, and 1965 crops of wheat. Payments in cash or in kind are made by Commodity Credit Corporation. The per acre payment for taking wheat acres out of production is based on the yield of wheat for the farm and the local price support rate for wheat. The county agricultural stabilization and conservation committee will establish a per acre wheat yield for each farm (based on 1959-60). The payment rate will be the yield per acre multiplied by one-half the county price support loan rate for wheat. The payment rate is then multiplied by the total acres taken out of wheat production in compliance with the program to determine the total payment for the farm. Farmers with wheat allotments of 15 acres or more may take out of production a minimum of 20 percent and a maximum of 50 percent of their wheat allotments; 10 acres may be diverted if this is larger than 50 percent of their wheat allotment. For these farmers to receive all the benefits and payments, they must take at least 20 percent of their wheat allotments out of production and use those acres for conservation purposes. For farmers with a wheat allotment of less than 15 acres, the minimum diversion is 20 percent of the larger of (a) the average acres of wheat planted for harvest in 1959, 1960, and 1961 (but not to exceed 15 acres) or (b) the 1963 allotment. The highest acreage that may be retired from wheat production is 10 acres, provided this is not larger than either (a) or (b) above. Small farms must also be within the wheat allotment to be eligible for a price support loan and the 18 cents price support payment for wheat. Mr.WHITTEN. Do you have any additional comments? Mr. GODFREY. No additional comments than what we have there. We do not have the estimate complete yet on the 1963 feed grain programs because signup ends on March 22. We gave an estimate in our presentation that it would be a little less acreage than we had this past year. Mr. WHITTEN. Would you supply the fact sheets showing all the information on participation, acreage diverted, payments made, and so forth. Mr. GODFREY. Yes, we will. (The information follows:) 95910-63-pt. 3--47 |