Over the Waves

Hoping to make a molehill out of its $3.7 billion mountain of farm surpluses, the Commodity Credit Corp. last week started something like a giveaway program. It listed eleven Government-held agricultural products for sale to U.S. exporters at cut rates for resale abroad. Some of the bargains: P:CJ 73 million Ibs. of dried eggs, originally bought at $1.30 a lb., now on sale at 40-c- a lb.

P: Potatoes, which CCC is now buying at $2.10 a hundredweight, available at 1-c- a 100-lb. sack.

P: 30 million Ibs. of Mexican canned meat & gravy, purchased for about 30-c- a lb., pricetagged at 15-c- a lb.

U.S. buyers may export the foodstuffs to any country they like, provided no ECA funds are used in payment. Because of high shipping costs, CCC was not at all sure that much would be exported even at the low prices.

Meanwhile, CCC went ahead with plans to pile more food on its mountain of surpluses. Last week it decided that hog prices, which had tumbled, would continue falling, prepared to support them at $14.90 a 100 Ibs. at the farm.

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