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B-114824 1 (1974-09-11)

handle is hein.gao/gaobabkvb0001 and id is 1 raw text is: UKI~f~eTD -_ o bb remwad outldi the 0OL-!eratj Acicrnt, , Office except on the t - L Sy tho O . of Conressional Rleations, LP 1 7(4 (t/Thie II(It~iVW ; ,1 .l ,, IO4. /bur k LUti lted .., I.'.,,; .,,.nt:fp 'Dear Senator Ab1)our'cZk: Iii accordance with your March 8, 1974, request and subsequent agreenients with your office, we have reviewed certain Commodity Credit Corporation (CCC) grain sales--sales of corn stored in CCC bins in Iowa and Nebraska and wheat stored in commercial warehouses-- made during the 15-month pe-iod ended April 1974. We also compared recent CCC grain sales prices with market prices. CUO, a wholly owned Government corporation, was created to (1) stabilize, support, and protect farm income and prices, (2) help maintain balanced and adequate supplies of agricultural commodities, and (3) facilitate the orderly distribution of these supplies. CCC has no operating personnel of its own. Its activities are carried out mainly by the personnel and through the facilities of the Agri- 2cultural Statiliation and Conservation Service (ASCS), Department .Jq of Agriculture, and the ASCS State and county offices. We made our review at the ASCS headquarters office in Washington, D.C.; the Iowa State ASCS office and two ASCS county offices in that State; and the ASCS Prairie Village commodity office (PVCO), Kansas. We reviewed sales instructions, terms, and documents and obtained such information as quantities of grain sold, buyers, sales prices, and amounts of storage charged buyers who did not remove purchased grain within a prescribed time. We interviewed ASCS officials, a railroad agent, and a wa rehouseman. On May 23, 1974, we briefed your office on our review and were requoe;ted to provide a written summary of information presented, excluding detailed sales statistics. A-F:S OF _cc CON SORID IN CkC _i'. On January 1, 1973, (CC had 26.1 million bushels of corn in its bins; l',.3 mill il, bushel, were in iow., and 8.3 million bushels in Nehraska. ;!)--t-. ES DC, AAiLAbL

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