The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1920-11-17
SPECTATORS
HAVE FORCED
WHEAT DOWN
So States Farm Bureau
President. Tells Why
Prices Will Ad-
vance
HUGE EXPORTS
Shows Why Wheat Price
Should be So or
F.; More

A letter relative to the wheat sit
uation as it is affecting the grower
has been received by e. M. Harper
from the American Farm Bureau
Federation. The letter sets forth
what he believes to be the cause Of
the low wheat prices and suggests a
remedy. The letter follows:
Mr.. E. M. Harper,
Bingham County Farm Bureau,
Blackfoot, Idaho.
Dear Sir.
We are enclosing herewith copy
of q statement issued by President
Howard, relative to the wheat situa-
ton, and you will note from read
ing it all he has to say relative to
the organized wheat strike in the
northwest. This portion of the state
ment is in the last paragraph Of the
article
I might say, however, that the
newspapers of the county have
slaughtered the article in a good
many cases, and have rewritten it
to suit themselves.
Very truly yours,
AMERICAN FARM BPUREAU
American Farm Bureau Federation,
]. w. Coverdale, Sec'y.
CHICAGO, Ill.-Aroused by the
severe losses inflicted on farmers by
unwarranted cuts in farm products
prices and asserting that the people
of the United States are in serious
danger of an actual shortage of
-four before another grain crop is
harvested, the Executive Committee
CT the American Farm Bureau Fed
Grafton in session here took steps to
inform all state and county officers
and members as to the true situation
existing in the wheat market.
"Unless steps art taken. at once to
readjust matters we shall wake up
one of these mornings to find that
we have exported more wheat than
we can spare and at prices to the
duction for next years harvest, !"
says J. r. Howard, President of the
Federation.
The statement to be issued to the
state secretaries and through them
to the farmers in all the grain grow
ing states, points out that the latest
government estimate on our wheat
crop is 77O,000,000 bushels. The
carry-over of last years crop is gen.
orally estimated at 130,000,OO0 BUSH
els, making a total Of 900,000,OOO
bushels available for meeting all de-
mands UP to 1921 harvest.
Bradstreet's on September 23rd,
stated that in the twelve preceding
! weeks, 122,489, 900 bushels of wheat
had been exported. Within the past
week, members of the Chicago board
of Trade have stated that at this time
the exports exceed 150, 900 900 BUSH
els, and that there is now contracted
for export, but not yet shipped, more
than 100000 additional bushels
or q total in excess Of 250,000,00O
bushels. Seed purposes demand to-
tai of at least 35,000,000 bushels.
For safety and the purlic welfare
it is absolutely necessary that there
be a carry-over each year of approx
imately 70, 900, 900 bushels. Thus for
export, seed and carry-over, we ac-
count for more than 350,000,000
bushels of the available 900,000,000
bushels, leaving balance of less
than 545, 100000 bushels for domes-
tic consumption. This is 05,000,000
bushels under our normal consump-
ton, and this amount must either
be retained or bought from other ma
items or the greatest bread shortage
Seahave ever experienced will ensue.
kThe 1920 Canadian crop is estimat-
ed at 9,500,000 bushels, or 96,-
900, 900 bushels more than last year.
II this entire 96,000,000 bushels
we're imported for our domestic use,
we would still be short of our neces-
sary requirements.
There is no secret in the grain
trade that conditions of supply and
demand justify a price of a least 50
and possibly "a per bushel for wheat
), and present decentralization condition
of the grain market is due to market
manipulations and propaganda on the
part Of large spectators who sold
tremendous quantities of wheat
abroad in June and July at the prices
then prevailing and who are now try
ing to fill these orders at prices that
will net them an extraordinary mar
y gin. One of the large packing houses
in particular, is known to hold huge
contracts for export grain and has
been interested in seeing the market
beat down to the lowest possible fig
ure.
Under the circumstances it is only
good business to await the time when
the natural forces of supply and de-
mand must again assert themselves
and a price readjustment set in.
FINISHING SCHOOL BUILDING
P. B. Dance, member Of the school
koard at Thomas states that the new
9chool building will soon be COM
pleted at the Rockford school