[Federal Register Volume 60, Number 180 (Monday, September 18, 1995)]
[Rules and Regulations]
[Pages 48015-48020]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-23030]
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Rules and Regulations
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
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The Code of Federal Regulations is sold by the Superintendent of Documents.
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Federal Register / Vol. 60, No. 180 / Monday, September 18, 1995 /
Rules and Regulations
[[Page 48015]]
DEPARTMENT OF AGRICULTURE
Commodity Credit Corporation
7 CFR Parts 1413 and 1421
RINS 0560-AD76, 0560-AD37, 0560-AD87, 0560-AD60, and 0560-AD61
1995 Wheat and Feed Grain Acreage Reduction Programs, 1995
Oilseed Price Support Rates, and 1994 Wheat and Feed Grain Farmer-Owned
Reserve Programs
AGENCY: Commodity Credit Corporation, USDA.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Commodity Credit Corporation (CCC) issued proposed rules
with respect to the 1995 Production Adjustment Programs for Wheat on
April 6, 1994, and for Feed Grains on August 4, 1994. Accordingly, this
final rule amends 7 CFR Parts 1413 and 1421 to set forth: the acreage
reduction program (ARP) percentages for the 1995 crops of corn, wheat,
grain sorghum, barley, and oats; the determination that a paid land
diversion (PLD) program will not be implemented for the 1995 crops of
wheat and feed grains; the determination that producers of malting
barley must, as a condition of eligibility for feed grain loans,
purchases, and payments, comply with requirements of the ARP for the
1995 crop of barley; and the 1995-crop price support rates for wheat,
corn, grain sorghum, barley, oats, and rye. In addition, this final
rule amends 7 CFR Part 1421 to set forth the 1995-crop price support
rates for oilseeds and to set forth determinations with respect to the
entry of 1994-crop wheat and 1994-crop feed grains may into the farmer-
owned reserve (FOR).
EFFECTIVE DATE: September 18, 1995.
FOR FURTHER INFORMATION CONTACT: Philip W. Sronce, Consolidated Farm
Service Agency, United States Department of Agriculture (USDA), P.O.
Box 2415, Washington, DC 20013-2415 or call 202-720-4418.
SUPPLEMENTARY INFORMATION:
Final Regulatory Impact Analysis
The Final Regulatory Impact Analyses describing the options
considered in developing this rule and the impact of the implementation
of each option is available on request from the above-named individual.
Executive Order 12866
This rule has been determined to be economically significant and
was reviewed by OMB under Executive Order 12866.
Federal Assistance Programs
The titles and numbers of the Federal Assistance Programs, as found
in the Catalog of Federal Domestic Assistance, to which this rule
applies, are as follows:
------------------------------------------------------------------------
Titles Numbers
------------------------------------------------------------------------
Commodity Loans and Purchases................................. 10.051
Feed Grain Production Stabilization........................... 10.055
Wheat Production Stabilization................................ 10.058
------------------------------------------------------------------------
Regulatory Flexibility Act
It has been determined that the Regulatory Flexibility Act is
applicable to this final rule because the CCC is required by sections
107B(o) and 105B(o) of the Agricultural Act of 1949, as amended (the
1949 Act), to publish a notice of proposed rulemaking with respect to
certain provisions of this rule. Final Regulatory Flexibility Analyses
for the 1995 Wheat and Feed Grain ARPs were prepared as part of the
Final Regulatory Impact Analyses. Copies of these analyses are
available from the above-named individual.
Executive Order 12778
This final rule has been reviewed in accordance with Executive
Order 12778. The provisions of this final rule do not preempt State
laws, are not retroactive, and do not require the exhaustion of any
administrative appeal remedies.
Environmental Evaluation
It has been determined by an environmental evaluation that this
action will not have a significant impact on the quality of the human
environment. Therefore, neither an Environmental Assessment nor an
Environmental Impact Statement is needed.
Executive Order 12372
This program/activity is not subject to the provisions of Executive
Order 12372, which requires intergovernmental consultation with State
and local officials. See the Notice related to 7 CFR part 3015, subpart
V, published at 48 FR 29115 (June 24, 1983).
Paperwork Reduction Act
The amendments to 7 CFR parts 1413 and 1421 set forth in this final
rule do not contain new information collections that require clearance
by the Office of Management and Budget under the Paperwork Reduction
Act of 1980 (44 U.S.C. 35). Information collections were previously
cleared under OMB control numbers 0560-0092 and 0560-0129.
Background
This final rule amends 7 CFR parts 1413 and 1421 to set forth
determinations with respect to: The 1995 Price Support and Production
Adjustment Programs for Wheat and Feed Grains; the 1995 price support
rates for oilseeds; and the entry of 1994-crop wheat and feed grains
into the FOR. General descriptions of the statutory basis for the 1995
Wheat and Feed Grain Program determinations in this final rule were set
forth at 59 FR 16149 (April 6, 1994) and at 59 FR 39707 (August 4,
1994), respectively.
1995 Wheat Program
The public was asked to comment on whether the 1995 wheat ARP
percentage should be set at 0 percent, 5 percent, or 10 percent or
another percentage between 0 and 15 percent. Comments received during
the comment period are summarized below.
A total of 62 respondents commented on the ARP level. Table 1 shows
a breakdown of the comments received by type of respondent.
[[Page 48016]]
Table 1.--Summary of Comments on 1995 Wheat ARP Levels, by Respondent Type
--------------------------------------------------------------------------------------------------------------------------------------------------------
Suggested ARP percentage
Respondent --------------------------------------------------------------------------------------------------
No ARP 0% 5% 10% 12% 15% Other >15% Total
--------------------------------------------------------------------------------------------------------------------------------------------------------
Farm Organizations................................... .......... 14 2 1 .......... 2 1 20
Agri-businesses...................................... .......... 11 .......... .......... .......... ........... ........... 11
Individual Producers................................. 3 10 1 5 1 9 2 31
--------------------------------------------------------------------------------------------------
Total.......................................... 3 35 3 6 .......... 12 2 62
--------------------------------------------------------------------------------------------------------------------------------------------------------
Respondents favoring lower ARP percentages indicated that they
favored lower ARP percentages for the following reasons: (1) wheat-
sector net income is higher with lower ARP levels; (2) the U.S. needs
to maintain production in the face of high imports; (3) the U.S. needs
to send a message to our competitors that the U.S. will not
unilaterally reduce production and abandon world markets; (4) payment
acres are higher; and (5) idling acres under the Conservation Reserve
Program and annual programs hurt rural economic activity. Respondents
favoring higher ARP percentages noted that higher ARP levels: (1)
result in higher wheat prices; (2) result in lower Government costs;
(3) reduce the risk of stock-building; and (4) help maintain crop
rotations.
After considering these comments, on June 1, 1994, the Secretary of
Agriculture (the Secretary) announced a 1995 ARP of zero percent. The
Secretary was authorized to make adjustments in the 1995 ARP percentage
no later than July 31, 1994. No change was made because estimated 1995
wheat supplies did not change significantly (up about 1 percent) from
the May 1994 supply estimates. The Secretary determined that a zero-
percent ARP for wheat would provide the highest income for producers,
maintain U.S. competitiveness in world markets, and signal to domestic
and foreign customers that the U.S. will be a reliable supplier.
Table 2 compares supply and demand estimates under three different
ARP options based on May 1994 estimates (the estimates used to make the
June 1 and July 31, 1994, ARP decision).
Table 2.--Comparison of 1995 Wheat Supply and Demand Estimates Under
Various ARP Options
------------------------------------------------------------------------
1995 ARP Options
Supply and Demand Variable --------------------------------------
0 percent 5 percent 10 percent
------------------------------------------------------------------------
Participation (percent of total
base acreage)................... 86 85 84
Planted Acreage (mil. ac.)....... 71.8 70.0 67.8
Production (mil. bu.)............ 2,406 2,347 2,272
Domestic Use (mil. bu.).......... 1,242 1,227 1,207
Exports (mil. bu.)............... 1,200 1,190 1,175
Ending Stocks 8/31 (mil. bu.).... 659 627 590
Average Market Price ($ per bu.). 2.95 3.00 3.08
Deficiency Payments (mil. $)..... 1,937 1,712 1,464
Net Income to Wheat Producers
(mil. $)........................ 5,547 5,302 5,086
------------------------------------------------------------------------
The 1949 Act provides that an ARP of not more than 15 percent may
be implemented if the ending stocks-to-use (s/u) ratio for the previous
marketing year is equal to or less than 40 percent. When the 1995 ARP
was announced, the S/U for the 1994 marketing year was estimated to be
25.8 percent. Section 1104 of the Agricultural Reconciliation Act of
1990 provides for a minimum 5-percent ARP for the 1995 crop of wheat
unless the 1994/95 wheat ending s/u ratio is less than 34 percent.
Because the 1994/95 wheat s/u ratio was less than 34 percent, the 5-
percent ARP minimum does not apply. ARP levels above 10 percent were
not considered because expected 1995-crop supplies would fall to
unacceptable levels. A PLD will not be implemented for 1995 wheat
because it is unnecessary given the supply and use conditions which led
to an ARP of zero percent.
1995 Feed Grain Program
The 1949 Act provides that an ARP of zero to 12.5 percent may be
implemented if the corn ending s/u ratio for the previous marketing
year is equal to or less than 25 percent. The corn ending s/u for the
1994/95 marketing year was estimated to be 18.9 percent when the 1995
ARP levels were announced on September 30 and 23.3 percent on November
15, 1994. In the case of grain sorghum and barley, the 1949 Act
provides for ARP percentages from zero to 20 percent. Section 1104 of
the Agricultural Reconciliation Act of 1990 provides for a minimum 7.5
percent ARP for the 1995 crop of corn unless the 1994/95 corn ending s/
u ratio is less than 20 percent. Because the 1994/95 corn s/u ratio
estimated on September 30 was below 20 percent, the 7.5-percent minimum
ARP does not apply.
The public was asked to comment on the appropriate 1995 ARP
percentage for corn, grain sorghum, and barley and on whether or not
malting barley producers, as a condition of eligibility for feed grain
loans, purchases, and payments, should be exempt from complying with
requirements of the feed grain ARP. The statutory range for
establishing the 1995 ARP percentages, based on the supply and demand
estimates published in the proposed rule, was zero to 12.5 percent for
corn and zero to 20 percent for grain sorghum and barley. The oats ARP
percentage is statutorily mandated at zero percent.
Comments received during the specified comment period are
summarized as follows:
A total of 1,474 respondents commented on the ARP percentages,
including 1,399 from a producer survey collected by the Nebraska Corn
Development, Utilization and Marketing
[[Page 48017]]
Board at Harvest Husker Days. Fourteen hundred and fifty-five of the
respondents commented on the corn ARP percentage, 33 of the respondents
commented on the grain sorghum ARP percentage, and 28 of the
respondents commented on the barley ARP percentage. Table 3 shows a
breakdown of the comments received on the corn, grain sorghum, and
barley ARP percentage by type of respondent.
Table 3.--Summary of Comments on the 1995 Feed Grain ARP Levels, by Commodity and Respondent Type
----------------------------------------------------------------------------------------------------------------
Suggested ARP percentage
Respondent -----------------------------------------------------------------------------
0% 5% 7.5% 10% 12.5% >12.5%
----------------------------------------------------------------------------------------------------------------
Corn:
Farm Organizations............ 0 1 3 1 2 0
Agri-businesses............... 9 1 0 0 2 0
Individual/Producers.......... 134 261 407 87 448 86
Others........................ 0 0 1 1 11 0
-----------------------------------------------------------------------------
Total....................... 143 263 411 89 463 86
Grain Sorghum:
Farm Organizations............ 2 0 0 1 1 0
Agri-businesses............... 6 0 0 0 1 0
Individual/Producers.......... 3 0 0 3 5 7
Others........................ 0 0 0 1 3 0
-----------------------------------------------------------------------------
Total....................... 11 0 0 5 10 7
Barley:
Farm Organizations............ 5 0 0 1 1 0
Agri-businesses............... 6 0 0 0 1 0
Individual/Producers.......... 4 0 0 1 5 2
Others........................ 0 0 0 0 1 1
-----------------------------------------------------------------------------
Total....................... 15 0 0 2 8 3
----------------------------------------------------------------------------------------------------------------
Fifty-six percent of the respondents (a majority of producer
comments) favored a corn ARP of 7.5 percent or less. In general, most
farm organization and agri-business respondents favored an ARP level of
7.5 percent or less.
Respondents favoring the lower ARP percentages noted that the U.S.
needs to produce more to take advantage of export opportunities and
confirmed USDA's analysis that a lower ARP level results in higher
producer incomes. Advocates for a zero-percent barley ARP indicated the
need for adequate supplies to aggressively implement the Export
Enhancement Program for barley.
Respondents favoring higher ARP percentages commented that feed
grain supplies would be lower, prices would be higher, and Government
costs would be lower.
Three respondents commented on whether or not malting barley
producers should be exempt from the 1995 ARP requirement for barley.
One respondent favored and two respondents opposed the malting barley
exemption.
After considering these comments, the Secretary announced on
September 30, 1994, an ARP level of 7.5 percent for corn, and zero
percent for grain sorghum, barley, and oats, and that malting barley
producers would not be exempt from complying with the 1995 Barley ARP
requirements.
Malting barley producers will not be exempted from complying with
the barley ARP requirement because exempting them would increase the
complexity of the program and increase program outlays.
The Secretary was authorized to make adjustments in the 1995 ARP
percentages no later than November 15, 1994. On November 15, 1994, the
Secretary announced that the initially announced ARP levels would not
be changed. A change was not warranted because 1994 feed grain supplies
had increased only 6 percent and the prospects for larger feed grain
demand had improved since the September announcement.
The Secretary determined that a 7.5-percent ARP for corn and zero-
percent ARP's for grain sorghum and barley would maintain adequate
supplies of quality feed and food for all markets.
Table 4 shows four different 1995 Feed Grain ARP options that were
considered when determining the final 1995 ARP percentages.
Table 4.--1995 Feed Grain ARP Options
------------------------------------------------------------------------
1995 ARP options
Crop ---------------------------------------------------
1 2 3 4
------------------------------------------------------------------------
Percentages
---------------------------------------------------
Corn................ 0 5 7.5 12.5
Grain Sorghum....... 0 0 0 5
Barley.............. 0 0 0 5
------------------------------------------------------------------------
Tables 5 through 7 compare the supply and demand estimates of four
different 1995 ARP options based on September 1994 estimates for corn,
grain sorghum, and barley.
[[Page 48018]]
Table 5.--Comparison of 1995 Corn Supply and Demand Estimates Under
Various ARP Options
------------------------------------------------------------------------
1995 ARP options
Supply and Demand ---------------------------------------------------
Variable 0 5 7.5 12.5
------------------------------------------------------------------------
Participation
(percent of the
total base acreage) 81 77 75 71
Planted Acreage
(mil. ac.)......... 79.5 78.0 77.0 75.0
Production (mil.
bu.)............... 8,980 8,815 8,705 8,470
Domestic Use (mil.
bu.)............... 7,315 7,275 7,250 7,200
Exports (mil. bu.).. 1,650 1,625 1,615 1,590
Ending Stocks 8/31
(mil. bu.)......... 1,621 1,521 1,446 1,286
Average Market Price
($ per bu.)........ 2.20 2.25 2.28 2.36
Deficiency Payments
(mil. $)........... 3,081 2,508 2,225 1,633
Net Income to Corn
Producers (mil. $). 11,266 10,935 10,786 10,580
------------------------------------------------------------------------
Table 6.--Comparison of 1995 Grain Sorghum Supply and Demand Estimates
Under Various ARP Options
------------------------------------------------------------------------
1995 ARP options
Supply and demand ---------------------------------------------------
variable 0 0 0 5
------------------------------------------------------------------------
Participation
(percent of the
total base acreage) 80 80 79 76
Planted Acreage
(mil. ac.)......... 10.2 10.1 10.0 9.8
Production (mil.
bu.)............... 605 600 600 585
Domestic Use (mil.
bu.)............... 408 403 403 398
Exports (mil. bu.).. 200 200 200 195
Ending Stocks 8/31
(mil. bu.)......... 94 94 94 89
Average Market Price
($ per bu.)........ 2.00 2.05 2.08 2.16
Deficiency Payments
(mil. $)........... 300 275 257 196
Net Income to
Sorghum Producers
(mil. $)........... 710 716 724 688
------------------------------------------------------------------------
Table 7.--Comparison of 1995 Barley Supply and Demand Estimates Under
Various ARP Options
------------------------------------------------------------------------
1995 ARP options
Supply and demand ---------------------------------------------------
variable 0 0 0 5
------------------------------------------------------------------------
Participation
(percent of the
total base acreage) 79 79 79 78
Planted Acreage
(mil. bu.)......... 7.3 7.3 7.3 7.1
Production (mil.
bu.)............... 395 395 395 385
Domestic Use (mil.
bu.)............... 385 385 385 385
Exports (mil. bu.).. 65 65 65 65
Ending Stocks 5/31
(mil. bu.)......... 129 129 129 124
Average Market Price
($ per bu.)........ 2.10 2.15 2.18 2.23
Deficiency Payments
(mil. $)........... 155 140 135 113
Net Income to Barley
Producers (mil. $). 563 568 575 562
------------------------------------------------------------------------
1994-crop Wheat and Feed Grains FOR Program
Section 110 of the 1949 Act sets forth the statutory authority for
the FOR program for wheat and feed grains. It provides that the
determination of whether there will be entry of a crop into the FOR
will be announced by December 15 of the year in which the crop of wheat
was harvested and, in the case of feed grains, March 15 of the year
following the year in which the crop of corn was harvested.
Entry into the FOR is triggered based upon prices and s/u ratios.
Section 110 of the 1949 Act generally provides that the Secretary may
make extended loans available to producers of wheat or feed grains if
either of the following conditions is met:
(A) Price Condition: The Secretary determines that the average
market price for wheat or corn, respectively, for the 90-day period
prior to the announcement is less than 120 percent of the current loan
rate for wheat or corn, respectively; or
(B) S/U Condition: As of the announcement date, the Secretary
estimates that the s/u ratio on the last day of the current marketing
year will be:
(i) in the case of wheat, more than 37.5 percent; and
(ii) in the case of corn, more than 22.5 percent.
Section 110 of the 1949 Act, also provides that the Secretary shall
make extended loans available to producers of wheat or feed grains if
both of the afore-noted conditions are met for wheat and feed grains,
respectively. If neither the price nor the s/u condition is met, the
Secretary has no authority to make extended loans available to
producers of wheat or feed grains.
In accordance with section 110 of the 1949 Act, if the Secretary
makes extended loans available to producers of wheat or feed grains,
the Secretary must specify the maximum quantity of wheat or feed grains
to be stored under this program that the Secretary determines
appropriate to promote the orderly marketing of the commodities. The
maximum quantities of wheat may not be established at less than 300
million bushels, nor more than 450 million bushels. The maximum
quantities of feed grains may not be established at less than 600
million bushels, nor more than 900 million bushels. Section 110 of the
1949 Act also provides that the Secretary may require producers to
repay FOR loans if it is determined that these supplies are required to
meet
[[Page 48019]]
urgent domestic and international needs.
On November 3, 1994, the CCC authorized up to 900 million bushels
of corn, grain sorghum, barley, and oats to be stored under the FOR
program. At the time of the decision, the estimated corn S/U ratio at
the end of the 1994/95 marketing year was 18.9 percent, the 90-day
average market price of corn was $2.16 per bushel, and 120 percent of
the 1994 price support rate for corn was $2.27 per bushel. Entry of the
1994-crop of feed grains into the FOR was allowed because the price
condition was met (the 90-day average market price of corn was less
than 120 percent of the 1994 price support rate for corn) and the
prospects for a large 1994 corn crop had caused corn prices to decline
significantly through the summer and early fall of 1994. Corn cash
prices declined from around $2.70 per bushel in late June to around
$2.00 per bushel at harvest.
On June 23, 1995, in accordance with section 110(e) of the 1949
Act, the CCC announced that 1994-crop feed grains may not be pledged as
collateral for FOR loans and that all existing 1994 crop feed grain FOR
loans were called because the 1995/96 supply and demand outlook for
feed grains had tightened significantly since authorizing the FOR entry
for 1994-crop feed grain loans in November 1994. Stronger than expected
corn export demand for 1994/95 and 1995/96, higher than expected feed
use in 1994/95, and prospects for a smaller 1995 corn crop due to
unexpected weather-related problems are all contributing factors.
Recent excessive rains in major corn-producing states caused the 1995
corn production estimate to be lowered from 8.6 billion bushels in May
1995 to 7.9 billion bushels in June 1995--just one month later. Total
use estimates were also lowered by 500 million bushels since May 1995,
reflecting lower estimated supply estimates and rising feed costs. Corn
ending stocks for 1995/96 are projected at 748 million bushels, 789
million bushels below November 1994 projections and the lowest level
since 1975/76. This tightened supply situation is expected to increase
feeding costs for livestock and poultry producers. A further tightening
of supplies will likely cause liquidation of livestock herds, reducing
feed use in subsequent crop years.
As with corn, June estimates of 1995/95 supplies and ending stocks
for the other feed grains are lower compared to November estimates and
are at or near historically low levels.
On December 13, 1994, the Secretary announced that 1994-crop wheat
would not be eligible for the FOR because neither the s/u condition nor
the price condition had been met. At the time of the decision, the
estimated wheat s/u ratio at the end of the 1994/95 marketing year was
21.1 percent, the 90-day average market price of wheat was $3.74 per
bushel, and 120 percent of the 1994 price support rate for wheat was
$3.10 per bushel.
1995 Oilseeds Price Support Rates
Section 205 of the 1949 Act provides that the price support rate
for the 1995 crop of soybeans shall not be less than $4.92 per bushel
and for the 1995 crop of sunflower seed, canola, rapeseed, safflower,
mustard seed, and flaxseed shall not be less than $0.087 per pound.
Acreage Reduction Percentages
In accordance with sections 107B(e)(1) and 105B(e)(1) of the 1949
Act, the ARP has been established with respect to the 1995 crop of corn
at 7.5 percent, and with respect to the 1995 crops of wheat, grain
sorghum, barley, and oats at zero percent. Accordingly, producers of
corn will be required to reduce their 1995 acreage of corn for harvest
by 7.5 percent from the established corn crop acreage base for a farm
to be eligible for price support loans, purchase, and payments.
Producers will not be required to reduce their 1995 acreage of grain
sorghum, barley and oats for harvest from the established feed grain
crop acreage base for a farm in order to be eligible for price support
loans, purchase, and payments for the respective feed grain.
Paid Land Diversion
In accordance with sections 107B(e)(5) and 105B(e)(5) of the 1949
Act, a PLD program will not be implemented for the 1995 crops of wheat
and feed grains.
Malting Barley Exemption
In accordance with section 105B(e)(2)(G) of the 1949 Act, producers
of malting barley shall, as a condition of eligibility of feed grain
loans, purchases and payments, comply with the requirements of the
zero-percent ARP for the 1995 crop of barley.
Price Support Rates
In accordance with sections 107B(a) and 105B(a) of the 1949 Act,
the price support rates have been established with respect to the 1995
crops of wheat at $2.58 per bushel, corn at $1.89 per bushel, grain
sorghum at $1.80 per bushel, barley at $1.54 per bushel, oats at $0.97
per bushel, and rye at $1.61 per bushel.
List of Subjects
7 CFR Part 1413
Acreage allotments, Cotton, Disaster assistance, Feed grains, Price
support programs, Reporting and recordkeeping requirements, Rice, Soil
conservation, Wheat.
7 CFR Part 1421
Grains, Loan programs/agriculture, Oilseeds, Peanuts, Price support
programs, Reporting and recordkeeping requirements, Soybeans, Surety
bonds, Warehouses.
Accordingly, 7 CFR parts 1413 and 1421 are amended as follows:
PART 1413--FEED GRAIN, RICE, UPLAND AND EXTRA LONG STAPLE COTTON,
WHEAT AND RELATED PROGRAMS
1. The authority citation for 7 CFR part 1413 continues to read as
follows:
Authority: 7 U.S.C. 1308, 1308a, 1309, 1441-2, 1444-2, 1444f,
1445b-3a, 1461-1469; 15 U.S.C. 714b and 714c.
2. Section 1413.54 is amended by:
A. Revising paragraphs (a)(1)(iii) and (a)(1)(iv) and adding
paragraph (a)(1)(v),
B. Revising paragraphs (a)(2)(iii)(C) and (a)(2)(iv) and adding
paragraph (a)(2)(v),
C. Republishing paragraph (d)(5) introductory text, and adding
paragraphs (d)(5)(i) and (d)(5)(ii), and
D. Revising paragraph (e):
Sec. 1413.54 Acreage reduction program provisions.
(a) * * *
(1) * * *
(iii) 1993 wheat, 0 percent;
(iv) 1994 wheat, 0 percent; and
(v) 1995 wheat, 0 percent.
(2) * * *
(iii) * * *
(C) Barley and oats, 0 percent;
(iv) For the 1994 crop: corn, grain sorghum, barley, and oats, 0
percent; and
(v) For the 1995 crop: corn--7.5 percent; grain sorghum, barley,
and oats--0 percent.
* * * * *
(d) * * *
(5) For the 1995 crop:
(i) Shall not be made available to producers of wheat and
(ii) Shall not be made available to producers of feed grains.
* * * * *
(e) With respect to the 1991, 1992, 1993, 1994 and 1995 crop years,
in order to receive feed grain loans, purchases, and payments in
accordance with this part and part 1421 of this title, producers of
malting barley must
[[Page 48020]]
comply with the acreage reduction requirements of this part.
* * * * *
PART 1421--GRAINS AND SIMILARLY HANDLED COMMODITIES
3. The authority citation for 7 CFR part 1421 continues to read as
follows:
Authority: 7 U.S.C. 1421, 1423, 1425, 1441z, 1444f-1, 1445b-3a,
1445c-3, 1445e, and 1446f; 15 U.S.C. 714b and 714c.
4. Section 1421.7 is amended by adding paragraphs (b)(1)(v),
(b)(2)(v), (b)(3)(v), (b)(4)(v), (b)(5)(v), (b)(6)(v), (b)(9)(v), and
(b)(10)(v):
Sec. 1421.7 Adjustment of basic support rates.
* * * * *
(b) * * *
(1) * * *
(v) 1995 Wheat-- $2.58 per bushel;
(2) * * *
(v) 1995 Corn--$1.89 per bushel;
(3) * * *
(v) 1995 Barley--$1.54 per bushel;
(4) * * *
(v) 1995 Oats--$0.97 per bushel;
(5) * * *
(v) 1995 Grain sorghum--$1.80 per bushel;
(6) * * *
(v) 1995 Rye--$1.61 per bushel;
* * * * *
(9) * * *
(v) 1995 Soybeans--$4.92 per bushel;
(10) * * *
(v) 1995 Canola, flaxseed, mustard seed, rapeseed, safflower, and
sunflower seed--$0.087 per pound.
* * * * *
5. Section 1421.217 is amended by adding paragraph (e):
Sec. 1421.217 Reserve entry.
* * * * *
(e) No quantity of 1994-crop wheat or 1994-crop feed grains may be
stored under the provisions of section 110 of the Agricultural Act of
1949, as amended.
Signed at Washington, DC, on September 8, 1995.
Richard O. Newman,
Acting Executive Vice President, Commodity Credit Corporation.
[FR Doc. 95-23030 Filed 9-15-95; 8:45 am]
BILLING CODE 3410-05-P