US buys up more wheat to cover embargo level
The government Monday announced purchases of 94.4 million bushels of wheat directly from farmers, thereby fulfilling promises to remove wheat from the marketplace equivalent to the amount embargoed. Together with previous purchases from country elevators and inland terminals, the Agriculture Department's Commodity Credit Corporation has bought 156 million bushels. The wheat will be placed in a reserve to ensure that the United States can meet international food-aid commitments even in years of short supplies. Approval of the reserve is pending in Congress.