Excerpt from The Feed Situation: July-August, 1952
Based on prospects in July, the corn supply for 1952-53 will total over billion bushels, about 5 percent larger than in 1951 So far, the 1952 season has been generally favorable for corn and the crop was estimated on July 1 at million bushels, percent larger than in 195 This would be exceeded only by the record cr0p of million bushels in 1998. A carry-over of around 500 million bushels is in prospect for next October which would be about million bushels less than in 1951. Including this carry-over, the com supply for 1952-53 would total about million bushels, compared vith million bushels in 1951-52. A corn cr0p of around million bushels would be fully adequate to meet the prospective domestic and export requirements. It wouldmean that the carry-over stocks at the'end of the 1952053 season would at least be maintained and probably increased from the level at the beginning.
The total quantity of corn held under price support at the beginning of the 1952-53 season is expected to be considerably smaller than the 1487 million bushels on October 1 last year. With a larger crop, supplies of free corn, especially in the Corn Belt States, would be increased. In early July, the.ccc owned a little over 300 million bushels of corn. Only about '45 million bushels remained under loan on June 1 and the bulk of this will be redeemed or delivered to CCC by October 1. After allowing for sales of CCC corn during july-september and for redemptions of corn under loan, the total quantity of corn under price support on October 1 probably trill not exceed 300 million bushels. This would mean a free corn supply of over billion bushels, compared with only about billion bushels in This probably would be'sufficient to meet domestic and emport requirements without further net withdrawal from reserves under price support.
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