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certainly reduce the carryover of corn, assuming average acre yields in 

 1942. The G-overnment now reports that during the first quarter of 13^2, 

 disappeDxance of corn in the United States v:as at a record high level, 

 and that as of April 1, stocks of corn on hand were 39 million bushels 

 below stocks on hand a yesx earlier. Disappearance of corn is expected 

 to continue heavy, and the present Government estimate is that the carry- 

 over next October 1 may be betv/een 50O ^^-'^ 55^ million bushels, compared 

 with the 19^1 carryover of 6^:-6 million bushels. The oats carryover next 

 July 1 is expected to be one-fourth smaller than last year. The total 

 feed grain supply for 19^2-^-3 > assuming an average grov/ing season, is 

 expected to b^ about 5 per cent less than the 19^1-^2 supply, cr about 

 10 per cent less per animal unit. Obviously, the Government wheat selling 

 program will affect the size of the corn carryover. If the Government 

 sells lar^e quantities of wheat for feed, it will relieve the pressure 

 upon the corn suDply, If the sales of v;heat for feed are insignificant, 

 then it v/ould seem that the Government's estimate cf a carryover of corn 

 of 500 to 550 million bushels next October 1 is too high. 



Although the price of corn declined v/^th other grains during 

 the last two v/eeks, corn prices have recovered fc.ster than other 

 commodities, A car of Number One Yellow Corn sold at Chicago for SS 

 cents a bushel May 2, a new high price for Yellow Corn for the year. 



Prices of farm oroducts in relation to -oaritv. In the price 

 control bill that goes into effect. May IS on hundreds of articles, 

 including most items entering into the cost of living, several food Izczis 

 were excepted either because of their seasonal variations in production 

 and prices or because they v:ere covered by previous legislation that 



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prevented price ceilings below some definite relationship to parity. 



As of April 15, 19^2, average or ices received by farmers in 

 the United Strtes for the principal products in which v;e are interested 



