An analysis of generic 1-year storage subsidy programs shows that some increase in stocks could be expected compared with a market with no storage subsidy programs. Over a period of years, the result would be a lower level of stocks than under the current Farmer-Owned Reserve. Such a program, with caps on total stocks for wheat of 300 million bushels and for feed grains of 600 million bushels, would reduce stock levels from those experienced under current programs.