The U.S. Department of Agriculture today announced that no marketing quota
will be in effect for the 2014 wheat crop, a declaration required by current
circumstances.

The Food, Conservation, and Energy Act of 2008 authorized commodity crop programs for the
2008 through 2012 crop years with the American Taxpayer Relief Act of 2012
providing a one-year temporary extension for the 2013 crop year. Unless
superseded by new farm legislation, any actions taken by USDA pertaining to the
2014 wheat crop must be done in accordance with the Agricultural Adjustment Act
of 1938, as amended (the 1938 Act), and the Agricultural Act of 1949, as
amended. Those laws require, under certain market conditions, the imposition of
quotas, acreage allotments, marketing certificates and parity price support
programs for wheat.

Therefore, if a new farm bill is not written or the current law extended, the 1938 Act
calls for a marketing quota for the 2014 wheat crop if the total supply of the
crop is likely excessive without the quota, and requires the Secretary to
decide not later than April 15, 2013, whether to impose it. Based on USDA
projected supply and demand for the 2014 growing season, no quota is required.