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US-China and Russia / Trade In Wheat #466192

NBC Evening News for Thursday, Sep 14, 1972
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(Studio) United States to sell 15 million bu. wheat to China. Senator George McGovern criticizes administration handling of wheat sale to Russia as unfair to farmers.
REPORTER: John Chancellor

(DC) [Secretary Agriculture Earl BUTZ - says while Russian deal being negotiated, Soviet team was in New York City negotiating with American private traders. Govt. had no contact with private deals.] [Agriculture Committee chairperson, Representative Graham PURCELL - says there was no deliberate effort to keep American farmers from knowing about deal when they sold wheat. Calls for measures to insurance equity for farmers.]

(Studio) Farmers lost money due to timing of wheat deal.
REPORTER: John Chancellor

(Hutchinson, Kansas) Kansas, early wheat state, harvests crops in May or June. Sold crops at lower prices than later crops brought, due to US-Soviet deal. (Pratt County, Kansas) Ronald Mozier, farmer, sold wheat at $5000 less than it would have brought a month later. Some farmers stored wheat, make money on deal. [Farmer Douglas WILDIN - says it's unfair that grain exporters are subsidized and protected while farmers are not.] Farmers hope prices hold until next year
REPORTER: Fred Briggs

(Studio) France sells wheat to China also.
REPORTER: John Chancellor

Reporter(s):
Briggs, Fred;
Chancellor, John
Duration:
00:05:00

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