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B-176943 1 (1973-04-30)

handle is hein.gao/gaobaagfk0001 and id is 1 raw text is: COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON, D.C. 70Oi,1 1ouf4P LM096387 APR 3 0 1973 ( The Honorable William R. Cotter House of Representatives Dear Mr. Cotter: Your December 18, 1972, letter expressed concern about the effect of the grain sale to Russia on U.S. consumer ices. You asked usto examine into certain eqonFt 7Zas pctstI the availability of feed grains and the effects of increased prices for feed grains on dairy and _ultry farmers, particularly in New Enrgland.. During subsequent meetings, we furnished your office with the information we had obtained, including a folder containing primarily Department of Agriculture data on feed grains and wheat, classified L-- into various sections. As agreed with your office, this letter sum- marizes the more significant data in the folder, by section, and the other information that we furnished. SECTION 1--SUPPLIES OF GRAIN & At December 31, 1972, the Commodity Credit Corporation (CCC) 2K) had 140 million bushels of corn and 267 million bushels of wheat in its inventory--mostly in the Midwest and none in New England. National stocks of corn at that date totaled 4.7 billion bushels and wheat to- taled 1.4 billion bushels. SECTION 2--FREIGHT RATES Rail rates for shipping corn from a producing area are much higher for shipments to the Northeast than to the Southeast. For example, the multiple-car rate for shipping corn from Cincinnati, Ohio, to Albany, New York--a distance of 707 miles--is 50-1/2 cents a hundredweight compared with 28 cents a hundredweight for a similar distance to Valdosta, Georgia. SECTION 3--PRICES OF FEED Prices paid by dairy and poultry farmers for feed, particularly soybean meal, increased substantially after the grain sale to Russia in July and August 1972. For example, on a national basis from

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