Nonbasic commodities: Value of price support loans and purchases by Commodity Credit Corporation and acquisitions under sec. 32 and sec. 6, by commodity, by fiscal years 1951 through 1958—Continued

Nonbasic commodities: Value of price support loans and purchases by Commodity Credit Corporation and acquisitions under sec. 32 and sec. 6, by commodity, by fiscal years 1951 through 1958-Continued

Nonbasic commodities: Value of price support loans and purchases by Commodity Credit Corporation and acquisitions under sec. 32 and sec. 6, by commodity, by fiscal years 1951 through 1958-Continued

Nonbasic commodities: Value of price support loans and purchases by Commodity Credit Corporation and acquisitions under sec. 32 and sec. 6, by commodity, by fiscal years 1951 through 1958-Continued

Support levels and prices for 1958 and 1959 crops and estimated support price for 1959 crops based on indexes used in computing parity prices prior to January 1959

Beginning with the 1959 crop the price of corn is supported at 90 percent of the average price received by farmers during the 3 calendar years preceding the calendar year in which the marketing year for such crop begins but not less than 65 percent of parity.

Various not announced.

Advance announced minimum price for wheat was released May 1, 1958, based on estimated modernized parity as of July 1, 1959.

Mandatory nonbasic commodities

Manufacturing milk and butterfat are the only two commodities where support prices would have changed if the indexes used to compute parity prior to January 1959 had been retained. Manufacturing milk would have gone up from $3.06 to $3.08 per hundredweight, and butterfat from 56.6 cents to 57 cents per pound. Both of these higher figures are based on 75 percent of paritythe minimum for dairy products. Other support levels (wool, mohair, oats, barley, rye, grain sorghums) would not have changed because they were determined after considering standards in addition to parity price and supports announced were above the minimums prescribed by law.

Nonmandatory-Nonbasics

Support levels already announced for dry edible beans, cottonseed, flaxseed, and soybeans would not have been affected because they were determined after considering standards in addition to parity price.

OVERALL DECREASE IN OPERATING EXPENSES AND EMPLOYMENT

Mr. McLAIN. As Mr. Berger will describe later, our administrative needs to store, manage, and sell additional commodities in 1960 will be slightly higher. We are estimating only a 5-percent increase in CCC administrative expenses for 1960 due to increased program volume, whereas it is expected there will be a 33-percent increase in inventories during the year and a 28-percent increase in commodities moved out of inventories.

In doing our utmost this year and next to prevent the accumulation of surpluses, full advantage is being taken of the conservation reserve program. We expect to accept 13 million additional acres into the program this year and 5 million more acres next year. This will make a total of 28 million acres removed from production. The soil bank programs will be discussed in detail at a later hearing. The 5

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