Grains To Get Bulk
Of USDA Korea Credit

WASHINGTON —(AP)— Wheat, corn and other feed grains will get the bulk of the $500 million in new or unused credits extended by the U.S. Agriculture Department for South Korea to purchase U.S. farm commodities.

Despite a strong lobbying campaign by beef and pork industries for a larger share to cut into a domestic meat oversupply, Agriculture Secretary Dan Glickman decided Friday that meats would get just $60 million.

Among grains, corn, barley, oats, sorghum, rye and soybean meal will get $130 million; soybeans, $100 million; and wheat, $60 million.

In addition, $120 million of the credits will go to cotton, $20 million for wood products and $10 million for fruit and vegetables.

Korean buyers have already purchased $787 million in U.S. commodities under the credit program this year, Glickman said. The credits serve the dual purpose of helping Korea's economy recover and guaranteeing foreign markets for American farmers.