The Kadoka press and Kadoka reporter. [volume] (Kadoka, S.D.) 1910-1923, 1915-10-22
Should We Hold
Our Wheat CrOp


price Of wheat is too low, and that
a material advance is sure to come
before another harvest. Acting
upon this idea, it is probable that
a great many farmers will hold
their wheat for that expected ad-
vance.
The Courant wants to see the
farmers get the highest possible
price for their wheat, but it is by
no means sure that they will do so
by holding it. In order to Justify
holding the grain there must be
considerable advance. There is
the shrinkage in weight, interest
on money and insurance to con-
slider. These items of cost and
depreciation would more than equal
few cents advance in price.
But the general opinion of those
best qualified to Judge is that the
chances for decline in price are
equally as good as the chances for
an advance.
In this connection the following
letter, sent out by Gordon & Fer
guson, of St. Paul, to their custom
ers, is worth considering. BY the
way, Gordon & Ferguson are not
connected in any way with the
grain business. They are whole
salers of hats, caps, furs, ETC., and
are interested in seeing the farmers
get the best possible prices, as the
more money producers get the
more goods they will buy. Here
is the letter:
We should like to call your
attention to a condition in the
wheat market that we believe is not
known to your customers and which
should have their serious consider
alton.
Europe needs about $50 million
bushels of wheat between now and
the next crop.
The United States will have a
surplus of $50 million bushels of
wheat to sell.
Canada has surplus crop OF
| SO million bushels.
| The Argentine has a surplus
| crop of 100 million bushels.
India and Australia have sur
plus crop of so million bushels.
Russia has at her ports on the
Black Sea awaiting the opening OF
the Dardanelles $50 million bushels.
Great Britain can buy of Canada,
Argentine, India and Australia, all
of whom are her debtors, and pay
for her purchases with sterling ex-
change at par. Sterling exchange
between this country and Great
Britain is at large discount and
Great Britain will naturally buy in
: markets where the rates of exchange
are in her favor.
If the Dardanells should be open
ed in sixty days Europe's needs of
$50 million bushels can be supplied
without one bushel from the United
Z States.
If the farmers generally hold
, their wheat in the belief of GER
tain strong advance later on, ii
will be a mistaken policy. The
wisest course is to refuse either to
z hold the crop back for rise or to
e rush it to market in such quant-
' ties as to break prices. This
/ means steady marketing by the
producer as his convenience per-
, mits; so that he will, at the end of
the season, have received the aver
age market price for the season.
We have written the above to put
, you in possession of the facts.
, The figures are from government
, reports. We suggest that you
, advise your customers accordingly
so that they may not be persuaded
r to either extreme, while having due
1 warning against the possibility of
loss later on if there is a general
E disposition to hold back their wheat
I now.
Y The Press reprints the above
: article from the Quinn Courant.
i and as there are a good many
S thousand bushels of wheat to be
r marketed in Jackson county, we