GENERAL FARM PROGRAM 



1043 



Exhibit B 

 Trend in prices received by farmers for selected oilseed crops, 1937-48 



Item 



1948, pre- 

 liminary 



Actual prices received by farmers: 



Tung nuts, per short ton 



Flaxseed, per bushel 



Soybeans, per bushel 



Index of prices received by farmers (1937-41 = 100): 



Timg nuts 



Flaxseed 



Soybeans 



$54. 70 

 5.75 

 2.39 



107 

 353 

 249 



Source: The Fats and Oils Situation, BAE, USDA, November-December 1948-January 1949, p. 8. 



Exhibit C 



Trends in the prices of selected oilf^, 1937-46, and December 1946, 1947, 1948 



Item 



Average 

 1937-41 



Average 

 1942-16 



December 



1947' 



1948 1 



Actual prices (cents per pound) : 



Tung oil, carlots, New York 



Linseed oil, raw, tank ear, Minneapolis 



Soybean oil. No. 2, yellow, mid western mills... 



Index of prices (1937-41 = 100): 



Tung oil 



Linseed oil 



Soybean oU 



2 21.7 

 9.5 

 6.8 



100 

 100 

 100 



2 39.1 

 17.2 

 14.0 



180 

 181 

 207 



39.5 

 34.8 

 24.6 



182 

 366 

 364 



28.4 

 33.0 

 26.2 



131 

 347 



388 



23.8 

 27.0 

 17.8 



109 

 284 

 264 



1 The Fats and Oils Situation, BAE, USDA, November-December 1948-January 1949. 



2 Commodity Year Book, published by the Commodity Eesearch Bureau, 1948. 



Source: All other items. Agricultural Statistics, 1948. 



Mr. Pace. That is a splendid statement. Are there any questions? 



Mr. Granger. What is the chief competitor of tung oil, flaxseed 

 oil, and linseed oil? 



Dr. Saville. Linseed in paint mixing, yes, and soybean oil. 



Mr. Granger. You referred to incentive payment here in your 

 statement. Did the Government give an incentive payment for tung 

 oil during the war? 



Dr. Saville. In the State of Mississippi, they did have an incen- 

 tive payment to farmers as a conservation measure, and they re- 

 ceived benefits from $1 up to as high as $5 an acre in that State. 



Mr. Granger. Did you think at the time it was comparable with 

 other incentive payments on other crops? 



Dr. Saville. I would not be in position to answer that. I believe 

 it would be better to get some of the growers to speak on that. 



