U.S. SOYBEAN MARKETING LOAN NOT NEEDED - LYNG
U.S. Agriculture Secretary Richard
Lyng said a marketing loan for soybeans would serve no present
purpose because the U.S. price is not above the world price.
    Asked in an interview if it was time to consider a
marketing loan for soybeans, Lyng said, "I don't think so. I
don't think the world price is lower than our price anyway."
    However, the USDA secretary said that if current conditions
of surplus production persisted, it might be appropriate to
consider a marketing loan.
    "I suppose that under that condition there is a danger our
exports will continue to drop and that the government will
continue to accumulate large stocks of soybeans," he said. "It
might be (worth contemplating a marketing loan), if there were
a world market that was lower than our market."
 Reuter
