This is a decent Cubby the Bear cartoon in which Cubby and the missus discover that farms are discovering mysterious crop failures. So they go into a cave underground, manufacture crops like industrial-line brownies. This one looks like an attempt at surrealism, but it comes off as simply bizarre.
Cubby Bear was one of Van Beuren's two sort of successful attempts at a cartoon star. The other was their musical Tom & Jerry series and some of those are pretty good. Cubby, however, lacked any sort of consistency and never amounted to much more than a placeholder character. In fact, the most successful episode of the series was actually animated by Leon Schlesinger's studio!