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Wheat: Background For 1990 Farm Legislation

Author

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  • Harwood, Joy L.
  • Young, C. Edwin

Abstract

Surplus wheat stocks declined under the 1985 Food Security Act as exports expanded due in part to the export enhancement program and reductions in the loan rate. Cutbacks in wheat production and recent droughts in key producing areas further reduced wheat stocks and increased prices. Although burdensome stocks could easily return, there is also the risk of shortage and high prices if additional production shortfalls and demand increases occur in the near future. Exports will likely be the main source of demand growth for U.S. wheat. However, world trade is not expected to match the sharp expansion of the 1970's and competition among the major exporters may intensify. Issues for 1990 farm legislation include loan rate and target price levels, the level of farm program costs, planting flexibility, and the future of the export enhancement program.

Suggested Citation

  • Harwood, Joy L. & Young, C. Edwin, 1989. "Wheat: Background For 1990 Farm Legislation," Staff Reports 278849, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:278849
    DOI: 10.22004/ag.econ.278849
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    File URL: https://ageconsearch.umn.edu/record/278849/files/ages8956.pdf
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    Citations

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    Cited by:

    1. Ahearn, Mary & Culver, David & Schoney, Richard, 1990. "Usefulness And Limitations Of Cop Estimates For Evaluating International Competitiveness: A Comparison Of Canadian And U.S. Wheat," 1990 Annual meeting, August 5-8, Vancouver, Canada 271041, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Bailey, Kenneth W. & Harwood, Joy L., 1990. "Government Wheat Programs," Food Review/ National Food Review, United States Department of Agriculture, Economic Research Service, vol. 13(1), March.
    3. Oskam, Arie J. & von Witzke, Harald, 1990. "Agricultural Policy Preferences: Wheat In The United States, 1981-1990," Staff Papers 14004, University of Minnesota, Department of Applied Economics.
    4. Harwood, Joy L. & Bailey, Kenneth W., 1990. "The World Wheat Market--Government Intervention and Multilateral Policy Reform," Staff Reports 278264, United States Department of Agriculture, Economic Research Service.
    5. Golz, Joel T. & Koo, Won W., 1993. "Spatial Equilibrium Analysis of the World Wheat Market Under Alternative Trade Policies," Agricultural Economics Reports 23271, North Dakota State University, Department of Agribusiness and Applied Economics.

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