, 1920-04-29
WHEAT is A PROFITABLE CROP.
Price Will Remain High, Says Man
Well Posted OH Condition of
Worlds Markets.

How about the price of wheat next
fall?
Thousands of Wyoming farmers who
expect big yields this year are asking
that question. for with the high price
of seed and the greatly increased cost
of working a farm, the question of get
ing a good price for grain becomes one
of the utmost Importance.
\ survey of the world wheat condi-
ton. which indicates a high price and
IL ready market for wheat in the fall.
has been prepared by Putnam ID. Nc
MILAN. Minneapolis representative of
the Royal Milling Company, which fol
lows:
The average wheat exports of rus
STA, Roumania ard Bulgaria for the
five-year period before the world war
was 224 million bushels says McAIil-
lan's statement. AS it is improbable
that Russia will export much during
the coming year. il is likely that this
snsrta2e of wheat for western Europe
will have to come from other export
ing countries.
THE best available figures Indicate
that approximately 10 million bushels
of this deficiency can be procured by
increasing the total expectations of In
dia. Argintena and Australia. This
would leave approximately 1S4 million
bushels of increased expectations over
the five-year pre-war average TO come
from the United States and Canada.
As II total wheat production of the
United States and Canada for the five
year period before the war averaged
914 million bushels, an additional cX-
portable surplus from these countries
this yea of 1S4 million bushels would
call for an increase in production of
20 per cent over the ~five-year pre-war
period.
1T is apparent, therefore. that there
should be a good market for all the
wheat the farmers of the northwest
can produce this year
Continuing his statement concerning
conclusion just stated. Mcmillan points
out the things that control the price
factors of the wheat market and shows
how there can not escape being II great
demand for wheat until the shortage
in bread stuffs has been made up and
something of Il surplus created. ON
tinuing he says:
I'm normal times as n surplus pro-
ducing nation our wheat values are
established by the price that the com
modify will command in the open
markets of the world, where it is in
competition with the crops of Russia.
Roumania, Australia, India and Argen-
tine. This condition will prevail so
long as there is n free flow of the COM
modify. BY this we mean hat trans
portation facilities, both rail and ocean,
permit the free movement of h COM
modify just as water over an unob-
structed area will seek n common level.
For many years past the population
of western Europe has far outrun the
ability of the soil to furnish subsis-
lance. This has been Offset by the sur
plus of Industrial earnings. Such pro
ductivity as they had was dependent
upon the soil enrichment; the balance
was purchased from surplus producing
countries.
"The war has changed all this. Pro
ductivity has been greatly lesssened
by depletion of the soil, thus increas-
ing their total import requirements.
Their industries are ut a %standstill.
The means Of purchasing are lacking
and they are still calling upon their
capital account to buy the necessary
foodstuffs.
Under these circumstances, it is
clearly seen that they must limit their