GENERAL FARM PROGRAM 



27 



CORN— Continued 

 D. Proclamation' of National Acreage Allotment — Continued 



MARKETING QUOTA CALCULATIONS FOR MARKETING QUOTA CALCULATIONS FOR 

 THE 1949 CROP OF CORN (1949-50 MAR- THE 1949 CROP OF CORN (1949-50 MAR- 

 KETING year) UNDER THE AGRICUL- KETING YEAR) UNDER THE AGRICUL- 

 TURAL ADJUSTMENT ACT OF 1938 TURAL ACT OF 1948 1 



Total supply 



Estimated carrv-over 

 as of Oct. 1, 1949__- 



Production from the 

 1949 crop (esti- 

 mate) 



Pushels 

 700, 000, 000 



3, 000, 000, 000 



Total supply 



Carrv-over as of Oct. 1, Bushels 



1948 125,000,000 



Production from the 



1948 crop 3,651,000,000 



Total supply for 

 the marketing 

 year begin- 

 ning Oct. 1, 

 1949 



Estimated imports for 

 the marketing year 

 beginning Oct. 1, 

 1948 



{') 



3, 700, 000, 000 



Normal supply 



Normal year's domes- 

 tic consumption 



(based on the 10 



marketing vears 



1938-39 to '1947- 



48) 1 3,030,000,000 



Normal year's exports 



(based on the 10 



marketing years 



1938-39 to 1947- 



48) 2 150,000,000 



Total supply for 

 the marketing 

 vear beginning 

 Oct. 1, 1948- . 3, 776, 000, 000 



Normal supply 



Estimated domestic con- 

 sumption during the 

 1947-48 marketing 

 year 3 3,000, 000,000 



Estimated exports dur- 

 ing the marketing 

 year beginning Oct. 1, 

 1948 125,000,000 



7 percent of such con- 

 sumption and ex- 

 ports 



3, 125, 000, 000 

 7 percent of such con- 



sumption and ex- 



3,180,000,000 ports 219,000,000 



223, 000, 000 



Normal supply 

 for the mar- 

 keting year 

 beginning 



Oct. 1, 1949-. 3,403,000,000 

 3,700,000,000^3,403,000,000= 108 per- 

 cent. 



Since the total supply does not exceed 

 the normal supply by more than 10 per- 

 cent, quotas are not required on the 1949 

 crop. 



Normal supply 

 for the market- 

 ing year be- 

 ginning Oct. 1, 

 1948 3, 



344, 000, 000 



» Adjusted from 2,785,000,000. 

 > Adjusted from 30,000,000. 



3,776,000,000^3,344,000,000=112 per- 

 cent. 



Since the total supph' does not exceed 

 the normal supply by more than 20 

 percent, a proclamation of marketing 

 quotas would not be required on the 

 basis of the supply situation. Further, 

 since the average price of corn in any 

 three successive months of the 1947-48 

 marketing year was above 66 percent 

 of the parity price, marketing quotas 

 would not be proclaimed on the basis 

 of the supply-price situation. 



' Calculations hypothetical since act is not effec- 

 tive untilJan. 1, 1950. 



• So small that no estimate has been made. 



5 The 1947 crop w;is imusually short and the do- 

 mestic Consumption of 2.5?0,000.000 rturinc the 1947- 

 48 marketing year has been adjusted upward. 



