The sun., 1919-04-03
An Incompatible Wheat Supply,
but Ian Inc / God Prices.

Vut 81 hhC VOo
Last week the Government reports
from $4,000 elevators. warehouses,
grain mills and wholesale firms
showed for early March three times
as large stocks Of wheat In their
hands as there were the year before.
This, moreover, took no account OF
the big quantities Of wheat held on
| the farms.
Mr.. JULIUS Fl. BARNES, president
of the Grain Corporation Of the Food
Administration, cannot understand
why the farmers should not send their
| stores to market at the present high
prices--higher. in some instances, by
20 cents, 80 cents and even 40 cents
bushel than the Government price.
He cannot understand. why the farm
ers should hold back when an ava
lanche of new wheat is to come down
upon the American markets within
the next ninety days.
1 But the explanation Is simple
enough. The Government Food Trust
itself Is responsible The American
farmer knows that he Is going to get
ut least the Government price any
how, whether he sends In his wheat
to-day, or next month, or any time
| within the 1919 wheat season. The
American farmer, moreover, is n
pretty good sport. Assured that he
isn't going To the poorhouse In any
event because Of the Governments
guarantees; ne will take reasonable
chance to he able to slip in his wheat,
some time between now and the ar
rival of the new crop, at fabulous
price which may be created by the
wild prediction OF $3.50 wheat by
Mr.. HOOVER. the head of the Govern
ment Food Trust.
It IL the Government Food Trust
and nothing else which has encour-
! aged the farmers to hold back their
| 1918 wheat. Just us 1t Is the Govern
ment Food Trust and nothing else
which, with It's lacking up Of wheat
prices to the public regardless OF an
overabundant supply, has sent up the
prices Of corn and Of other graine-
has sent mp the price Of pork, when
there are more hog products in the
stOrehouses and more hogs on the
hoof than this country ever had be-
fore or ever dreamed Of having.
This week the preliminary esti-
mates indicate that the Governments
official report due next week will fore
cast winter wheat crop of from
500, 900, 900 to 82O, 1000. 900 bushels.
Think OF winter wheat crop in
round numbers Of nine hundred mill
ion bushels!
This Is more than the bumper win
ter and spring crops put together in
1914, when in the early summer be-
fore the world war broke out Ameri-
can wheat was begging for buyers at
70 and 80 cents bushel.
This estimated winter wheat crop
alone of 9OOOOo,OO0 bushels in 1919
Is nearly 3O0.O0O,0O0 bushels more
than our combined winter and spring
wheat crops Of 1916. 1t Is $50, 900 900
bushels more than our combined win
ter and spring wheat crops of 1917.
And with a winter wheat crop In
sight Of 900, 900 bushels, there Is
still to come the spring crop just now
going into the soil In tens Of millions
Of acres throughout the United States
and in millions more Of acres through
out Canada.
If the Increase OF spring wheat acre
age Is anything like the increase of
winter wheat acreage, II the crop now
planting gives anything like the prom.
lse Of the winter wheat now sprout-
Ing. there will be not merely a crop
this year OF 1,1O00oO,O0O bushels as
we were all acclaiming few weeks
. ago. There will be a crop surely OF
L. 200, 100000 bushels. There may be
crop possibly well beyond a billion
| and quarter Of bushels.
Yet. with 0OOO.0O0 bushels OF
winter wheat right on the heels OF
our carry over, and with some three
, hundred millions, perhaps four hun
; dred millions, OF bushels of spring
. wheat close behind those 100000, 00t
, bushels OF winter wheat-with, In
. fact, n sure surplus supply ahead OF
half n billion bushels, with a pos
, sible supply Of three-quarters Of q
billion bushels more than the normal
. consuming power of our own country
= with wheat. in word, an incom
/ parable glut on our market. the Gov
ernment Food Trgsf still insists OIL