Page:News releases and other news material - United States Department of Agriculture, Office of Public Affairs. (IA CAT10619378046).pdf/13

Page 11 Release No. 0009.94 Gene Rosera (202) 720-6734 Charles Hobbs (202) 720-4026 USDA ANNOUNCES PREVAILING WORLD MARKET RICE PRICES, MARKETING CERTIFICATE RATES

WASHINGTON, Jan. 4--Under Secretary of Agriculture Eugene Moos today announced the prevailing world market prices of milled rice, loan rate basis, as follows:

Based upon these milled rice world market prices, loan deficiency payment rates, gains from repaying price support loans at the world market price, and marketing certificate rates are zero.

These announced prices are effective today at 3 p.m. EST. The next scheduled price announcement will be made Jan. 11 at 3 p.m. EST.

Release No. 0011.94 Bruce Merkle (202) 720-8206 USDA TO PERMIT PLANTING OF 1994-CROP SOYBEANS ON OPTIONAL FLEXIBLE ACRES

WASHINGTON, Jan. 4 -- The U.S. Department of Agriculture today announced that soybeans may be planted on optional flexible acreage in [sic]

Producers may plant designated crops on up to 25 percent of each crop acreage base enrolled in the Commodity Credit Corporation's 1994 price support and production adjustment programs for wheat, feed grains, upland cotton and rice. The crops planted can be credited as "considered planted" to the program crop. Twenty-five percent of each crop acreage base is referred to as flexible acres with the first 15 percent referred to as "normal flexible acreage" and the other 10 percent referred to as "optional flexible acreage".

Producers who plant program crops or oilseeds on optional flexible acres may receive price support for these crops. However, as required by the Agricultural Act of 1949, as amended, deficiency payments cannot be made on optional flexible acreage when it is planted to a crop other than the crop for which the crop acreage base has been established.

The 1949 Act provides that soybeans may not be planted on optional flexible acreage if, on January 1, the estimated price of 1994-crop soybeans is less than $5.17 per bushel, i.e., 105 percent of the 1994 loan rate of $4.92 per bushel. Because the soybean price is projected to be greater than $5.17, soybeans may be planted on this acreage.

Release No. 0012.94 Bruce Merkle (202) 720-8206 USDA ANNOUNCES FINAL 1994 ELS COTTON ACREAGE REDUCTION AT 15 PERCENT

WASHINGTON, Jan. 5 -- The U.S. Department of Agriculture today announced that the acreage reduction percentage for 1994-crop extra long staple (ELS) cotton will be 15 percent. The acreage reduction percentage for 1994 is 5 percentage points lower than that in effect for the 1993 crop.