1995 Wheat and Feed Grain Acreage Reduction Programs, 1995 Oilseed Price Support Rates, and 1994 Wheat and Feed Grain Farmer-Owned Reserve Programs

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