The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1917-05-11

PEMBINA,
these Boards OF Trade do actually buy
and sell millions of bushels OF wheat and
because this actual wheat passes through
several hands before it finally reaches
the mills the volume Of trade measured
in dollars must more than double the
actual bushels Of wheat.
Hance, il the gamblers have full con.
troll of the markets then they also con.
troll these vast transactions in actual
business, and do 1t in the same Boards
o; Trade of which the legitimate traders
are also members. Naturally, the latter
class must have some interest and take
some control in wheat prices on the
Boards of Trade.
AS matter of fact, even these gam
blers, study the question of supply and
demand more studlously than any other
class of people. Common sense shows
that when good crop is in prospect
that prices will be lower. When care.
fully compiled statistics show that there
is shortage of crop, small reserves and
prospect of big demand. that wheat
will advance. In such cases the gam
blers do not bet against nature to any
great extent. They may by false ru.
mors, and temporary corners manipulate
prices to small degree, but in general
way they cannot combat actual condi.
tions.
Further. large part of the betting is
done among the gamblers themselves.
They do skin the innocent public whose
knowledge Of conditions is practically
only guess. work, but who will butt in
with the chances against them, but even
in this case the the amateur gambler
often makes winning by sheer luck.
Wheat conditions all over the world
are matters of specific and official know.
ledge to all men in the trade. In this
country, all railway and elevator agents
send in crop report to headquarters; the
great grain firms have expert men travel.
ling over the wheat fields at all times in
the growing season farm machinery
manufacturers take care to know how
the crops look in different parts OF the
country. Besides these private agencies
the U S. government has very exten
sive system of local correspondent whose
reports are tabulated and published to
the world. The only thing tnat any OF
these don't know about the crops is
'what shall the harvest be?"
Just now, the last government report
shows that the winter wheat crop has
been very badly damaged by bad wealth
er and that the probable yield will be at
least one third less than the average
We also learn that Argentena has
ordered an embargo on wheat exports.
we know that the world reserves
are very light.
We also know that the whole world is
at war and that even with an early
peace crop conditions could not now be
greatly changed even if all the warning
soldiers we're sent at once to the farms
The wheat crop of Russia past and
present is also factor. 1t is supposed
that Russia has a considerable stock OF
leftover grain because there has been
no opportunity of export. Against this
we have the incidental fact that the re
cent remarkable revolution there was
started as a bread riot in the capital
city of Petrograd.
In the above we have been writing
rather at random, without any fixed
thread or argument. They are presen-
ted simply as food of thought by our
wheat raisers to be applied as they think
best.
Perhaps, there is one inevitable con
clusion that spectators don't raise
wheat. They may sometimes raise
prices, but the farmer raises the wheat.
The more wheat raised the lower the
price. Therefore it is the farmers patri.
otto duty, his Christian duty, in this
year of shortage, in this year of war, to
raise every bushel Of wheat that he can
and thus at once increase the quantity
and lower the price.
For once the farmers ought to bet
against himself though the price is
sure to be high enough anyway under
present prospects.