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No U.S. Wheat Quota
WASHINGTON - Apr 5/07 - SNS -- The USDA says no marketing quota will be in effect for the 2008 wheat crop.
The Farm Security and Rural Investment Act of 2002 authorizes a commodity program for only the 2002 through 2007 crops of wheat.
Consequently, until new farm legislation is enacted, any actions taken pertaining to the 2008 wheat crop must be done in accordance with permanent statutory provisions of the Agricultural Adjustment Act of 1938, as amended (the 1938 Act), and the Agricultural Act of 1949.
These permanent statutory provisions authorize the imposition of marketing quotas, acreage allotments, marketing certificates and price support programs for wheat.
The 1938 Act requires a marketing quota for the 2008 wheat crop if the total supply of the crop would likely be excessive without the quota. The 1938 Act also requires USDA to decide whether a quota is needed not later than April 15, 2007. Based on projected supply and demand, no quota is required.
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