Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1920-04-17
SPRING WHEAT
Importance Raising Full Crop Spring Wheat
Cannot be 0verestimated, Says
Federal Reserve Agent.

John II. Rich, chairman and federal
reserve agent of the Ninth district, has
sent out the following circular letter to
all banks in the district
The importance of raising a full crop
Of good spring wheat cannot be over
estimated The planting of wheat has
commenced and will shortly be in full
swing, and the acreage fer the Ninth
District will probably be determined
within the next two weeks. This office
is of the opinion that aside from its inn
| portance to the nation as whole, spring
wheat will be a profitable investment to
the farmers this year. 1t bases its
opinion upon the following facts
l. The worlds visible supply of wheat
is about 200, 100000 bushels less than a
year ago,
2. The visible supply Of spring wheat
in the United States is $4,000, 900 BUSH
els less.
3. Elevator stocks in Minneapolis
and Duluth are only about 100000
bushels compared with $4,000, 900 BUSH
els year ago.
4, The percentage of spring wheat
left in the hands of the farmers is less
than ~ per cent.
5. The acreage sown to winter wheat
is about 100000 acres less than year
ago, and the condition, according to
government report Just out, is only 1916
per cent as against 99S per cent year
ago. The government forecast of pro-
duction this year is 4S3, 100000 bushels
as against 73l 900, 900 bushels a year
ago. AS the winter wheat acreage can
not be increased, there will be heayier
demand than usual upon the crop from
the spring wheat states, which will
undoubtedly reflect itself in the price.
6. Contrary to the belief of many
farmers, wheat has been selling at a
high price as compared with other farm
products. Figures in which this office
has confidence show that on pre-war
price basis, which is used as 100 per cent
hogs sold dlring the last quarter OF 1919
at IFS per cent, corn at 2l6 per cent,
cotton at 266 per cent, but wheat at 277
per cent, or a little mere than q times
the pre-war price.
T. The conditions are such that the
farmer is justified in expecting a profit
able CROP weather conditions permitting,
Our soil and moisture reports are much
more favorable than a year ago. We
have raised $50, 100000 bushels of spring
wheat in the Northwest on an acreage
of 22,OOO,000 acres, and we can do it
again in good wheat year So far as
it is possible to judge, it would appear
that this is going to be good crop year
after the unfavorable conditions that
haye prevailed, especially in the west
ern half of this district for two years.
Undoubtedly your local editor would
be interested in having these facts and
give you co operation in encouraging
the farmers of your section to consider
this situation very carefully before they
determine upon what acreage they will
plant. Seed wheat is, of course, high in
price, but the price ofseed wheat should
be considered in connection With the
amount needed to seed an acre of crop
and the comparative cost of putting in
an acre of wheat that promises to be
good investment as compared with the
cost of putting other crops, which in the
opinion of this office, will command a
good price, but probably not as good
price as wheat in the face of world wide
conditions and prospective conditions
in this country.
believe tnis subject is of sufficient
Importance to justify your immediate
and careful attention, and l therefore
feel an interest in bringing it to your
attention.