USDA Forecasts More
Corn Grower Woes
WASHINGTON (AP) The stockpiles of grain
that have kept commodity prices depressed for two years
are growing, the government said last Friday. That could
mean another tough year for growers in 2000 and keep the
cost of federal farm programs soaring.
This year's bumper crops will push the corn surplus to
nearly two billion bushels more than 20 percent of
the nation's total production and boost wheat
stocks to 987 million bushels, the Agriculture Department
said.
That's expected to knock 10 cents off the price
farmers get per bushel of corn, dropping it to $1.85, and
a nickel off the price of wheat.
``Overall, we've still got big production in the
United States, big production around the world, and
you're going to have to see some change in weather or in
the farm program to reduce supply,'' said Don Roose,
president of U.S. Commodities Inc. of West Des Moines,
Iowa.
Next week, the Senate is expected to send President
Clinton an $8.7 billion package of emergency farm-income
assistance and disaster relief, the second
multibillion-dollar bailout package in as many years.
With the latest aid package, direct government
payments to farmers are expected to reach $21 billion
this year, eclipsing the old record of $17 billion in
1987.
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