Fats and Oils Situation

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Excerpt from Fats and Oils Situation: November 1972Record soybean production and farm prices averaging around per bushel are expected to raise the value of this year's crop to a record billion, a fourth above the 1971 crop's value. Farmers' prices for soybeans so far this marketing year have averaged about $1 above the CCC support rate of because of strong demand, the small carryover on September 1, and a delayed harvest.The 1972 soybean crop was estimated at a record million bushels, as of November 1, 15% (181 million bushels) more than 1971. Acreage harvested at million this year is up Also yield per acre was estimated at a record bushels, nearly 2 bushels above last year. Supplies this year, including a small carryover of old-crop soybeans, total million bushels, 12% above last year but short of the peak million bushels 3 years ago.Soybean demand in 3 is proving so strong that despite the record production, current and futures prices are at new highs. With total usage increasing to around million bushels (about 150 million above the-carryover next September 1 will once again be near this year's low 72 million bushels.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.