In terms of output it has been a good year. However, on the financial side we shall have done rather worse than last year for two important reasons; prices have remained roughly the same as while costs have risen by 20%. In additi on to this we have continued to reinvest substantial amounts in the shape of a new 150′ x 105′ barn, the grainstore for 800 tons of wheat and much new equipment. One encouraging feature has been the fact that the farm seems once again to be regaining its reputation as one of the more progressive in the country. Our experiments with the NIAE bridge linkage, use of large equipment and general expertise in seed production have created considerable interest in the farming press and television.