For the first time since the U.S. Department of Agriculture began buying corn to support its price (in 1933), farmers voted last week to abolish the acreage controls that went with the high, rigid props. In 26 commercial corn states 346,976 farmers voted 71.1% for a new program proposed by Secretary Ezra Taft Benson. Result: next year corn growers will give up a system that paid 75% to 90% of parity if they planted no more than a Government-set limit, turn to a system that sets the props closer to real market value (i.e., 90% of the previous three-year average,...
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