Tony Dechant, President of the Farmers Union speaks about profit margins for farmers, farm production expenses, parity, the Capper-Volstead Act of 1922, cooperatives, G.T.A., Central Exchange Marketing, Farmers Union insurance, commodity future prices, and the future of agriculture. Ben Radcliffe gives the annual report of the South Dakota Farmers Union State President and speaks about the annual convention in Houston next month, membership, the youth program, upcoming Farmer/Worker Conference, organized labor, and S.D. tax reform. He states that the South Dakota Farmers Union will take the South Dakota property tax to court, asking that it be declared unconstitutional as a main source of revenue for education in South Dakota. State secretary Lee Swenson gives the financial report for the fiscal year just ended.