Got it - so if I have to redirect to a file, I could do this - 

(with-output-to-file "output.txt"

  (lambda ()

    (display

     (call-with-input-process

      program

      (lambda (port)

(read-line port #f))))))

Although, I'd like to understand why stdout-redirection: #f outputs to stdout and not the current output port.

Is that a problem?