A bill to fix the loan rate and thereby facilitate more orderly marketing of the 1974 and 1975 crops of feed grains, wheat, cotton, and soybeans.

Summary

Establishes the loan rate for the 1974 and 1975 crops of corn at $2.98 per bushel; the 1974 and 1975 crops of cotton at 48 cents per pound; the 1974 and 1975 crops of wheat at $3.70 per bushel; and the 1974 and 1975 crops of soybeans at $6.50 per bushel. Directs that when the quantity of any agricultural commodity on hand is more than sufficient to meet domestic needs, the Commodity Credit Corporation shall offer for sale, from supplies owned by such Corporation, stated amounts, from time to time, in would trade for dollors on a competitive bid basis, in order to regain and retain world markets. Requires the Commodity Credit Corporation to maintain at all times a duly qualified sales manager, with full authority normally provided such an officer by private corporations.

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1 official file

• Introduced in House

  summary · EN · 18 February 1975

  Open at official source

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