This bulletin is the product of studies in the appraisal of governmental agricultural programs in progress at Iowa State College. The statistics upon which most of the conclusions relative to the effect of the AAA upon the production of feedstuffs are based are the estimates of feed production in the 3-year period, 1938-40, without crop acreage control. The manner in which the various estimates have been derived is explained in some detail in a series of fairly elaborate footnotes appended to tables 5 to 15, inclusive. The basic assumptions underlying these estimates are given in these footnotes. Available, relevant, empirical data are considered, and the appraisal and criticism of other research workers are taken into account.² The quantification of these assumptions into estimates of feed production without crop acreage control are in the last analysis those of the authors, and, as all estimates, are subject to error. They are, it is believed, the best approximation that it is possible to make with the evidence now available of what the feed production would have been in the various parts of the Midwest had there been no AAA.