Garden City Telegram from Garden City, Kansas on November 22, 1977 · Page 22
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Garden City Telegram from Garden City, Kansas · Page 22

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Garden City, Kansas
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Tuesday, November 22, 1977
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Page 22
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(•iirdcn C.it\ T TIII-M|II\. \o\riiilnT 22. 1077 l*a«c IIA Not on 'Direct Path' to $5 Wheat Signs Encouraging, Still No Cure for Wheatman's MANHATTAN — Recent improvement in wheat prices and reports of increased Russian grain purchases are encouraging signs, but are far from being cures for Kansas wheat growers' financial woes. That observation comes from Roy Frederick, extension economist at Kansas State University. "We're by no means on a direct path to $5-a-bushel wheat," he said. "However, the market has changed enough in recent weeks so that producers should consider selling some of their 1977 crop." The grain marketing return of $3.15 a bushel on the specialist said wheat growers grain, should analyze their "Average wheat production production costs and compare costs in Kansas are running them with the returns possiole from $3-$3.25 , per bushel," from selling, combined with Frederick said. "If a grower the deficiency payment they sees that he can cover his would receive. costs and come out ahead with Under the 1977 wheat his deficiency payment, he program, farmers with wheat might be well advised to start allotments will receive a deficiency payment of 65 cents per bushel. So, if a producer sold wheat at $2.50 a bushel — which was possible in mid-November in many areas — and received a 65-cent-a-bushel deficiency payment, too, he would have a moving some of his wheat." The grain marketing specialist said as rumors of foreign grain sales and higher prices circulate, wheat growers tend to hang onto their grain in hopes of making more money. He cautioned growers against waiting too long — "Don't wait for $5 wheat." On the other hand, he added, farmers shouldn't be in a big hurry to sell all of it right away, either. The economist said wheat prices dipped as low as $1.75 in some areas of Kansas at harvest time, reflecting concern over availability of Russia would import only 6-8 storage facilities and rail million metric tons of grain from the U.S. this year/Early cars. "In view of the $2.25 loan level, prices declined more than they probably should have," he observed. Other factors that depressed prices included going into the harvest season with the largest carryover of wheat in 14 years and having the third largest crop on record. "Early forecasts indicated predictions also called for a 220 million ton Russian crop. The latest estimate is 194 million metric tons — still a pretty good crop," Frederick said. Now it appears Russian imports of U.S. grains could reach 15 million tons this year. This compares with 13.7 million tons imported in 1972- 73, after Russia produced a crop of only 156 million tons. Russia's grain requirements are increasing, partly because of more livestock for red meat and dairy production. Frederick says the U.S. has the grain Russia needs. "We have a tremendous need to export grain," he said. "If we could export 1.2 billion bushels of wheat, we would starl reducing our Woes carryover." Early predictions indicated wheat exports for 1977-78 would exceed 1 billion only slightly. "As a result, reports of sales to Russia and China create considerable excitement in Ihe market," the economist said. "This can strengthen prices, but if prospects for exports fall through, price drops are likely to follow," the grain marketing specialist said. College Staffer To State Group Eugene Schneider, English and reading instructor, Garden City Community College has been selected by the Kansas Committee for the Humanities to assist the committee for a one year period' as a area representative. Marion Cott, KCH executive director, said Schneider is one of 12 persons named by the committee as area representativees. Schneider's primary responsibility is to assist nonprofit community groups and organizations in applying for grant support to the KCH. This includes consulting and making presentations to groups to explain KCH grant guidelines and to interpret the roles of humanities teachers in proposed activities. There is no charge for the consulting service, and Schneider may be contacted directly or through the KCH office. Schneider has been active in KCH activities for a number of years and has participated in various committee workshops and conferences in the slate. Last year he helped to direct a project sponsored by the Garden City Humanities TIME TO HARVEST THESE GREAT VALUES! GIANT CARP Schneider. . representative area Committee titled, "Water— Our Lifeline to the Future". 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