ST. LOUIS — U.S. Agriculture Secretary Richard E. Lyng said Friday that he opposes expanding the so-called market loan program to include feed grains, particularly corn and wheat.
"We will be competitive in the world in these areas without marketing loans," Lyng said at a news conference following a speech to the National Corn Growers Assn. convention in St. Louis. "There will be no marketing loans."
Marketing loans currently are offered to rice and cotton growers to offset the difference between their costs and the low prices they receive for their crops.
Lyng said wheat and corn prices were not low enough to warrant market loans.
He also said the Reagan Administration continues to oppose broadening export subsidies to include the Soviet Union. The Soviets have not fulfilled their portion of trade agreements with the United States, Lyng said.