The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1921-07-06
DOLLAR WHEAT HERE
AGAIN;FARMERS MAY
HOLD FOR INCREASE
(BY WILLIAM r. sANBoRN)

Dollar wheat has come to town. 1t
has been away from our home mar
kets for a long time 1t could have
received no chillier welcome had this
been a below zero December day.
Farmers are no longer in love with
dollar wheat, from granary or thresh-
er. A bushel Of wheat represents too
much toll and too great an investment
TO pay out at dollar. in this year Of
grace. And after you. have paid the
threshers cents per bushel, fed them
on fried chicken and asparagus tips,
with cream dressing, topped off with
frosted cakes and so forth, you feel as
if you are hardly getting a run for
your money. Nor are you.
But the threshermen also stand the
heat and burden of the day. And as
one of them recently said: ours is a
mighty hard and short season. We
have heavy investments, pay good
wages and must somehow manage to
live"
Paid $2.62 Last July.
In this same July week in 1920,
Walter Mathews, of the Centerville
elevator, paid 1882 for one field of
wheat. We remember the circum-
stances and knew the farmer who got
the check. This was, we think, the
top of the week, at least $3.50 was
top during the rush. Then prices slid
down into the two-forties, as all re-
member.
That same kind and grade is but 81
today. We doubt that an elevator in
Wayne is paying more, this Wednes-
day afternoon.
One elevator man told Us today that
his bids for last-half of July delivery
would warrant his paying but 95 to
So cents.
But cheer up. The market isn't
pegged. 1t can go higher.
Many Will Hold Wheat
Every farmer will not sell all his
wheat right now. Many will take
chance by holding it. The markets
will not be under this kind of pressure
all summer, by long shot. After
that we shall see what happens. The
world needs all the wheat produced.
That is not to be questioned.
But can the hungry in Europe find
the money to pay for it? And how
soon will they be able to finance such
purchases? How soon will they be
ready to do business on a large scale?
How will their financing finally be
accomplished? These are the all-im-
portant questions.
The Why of 81 Wheat
Many will wonder why wheat is off
5 cents per bushel today, when the
central markets are about on a parity
with closing prices on Tuesday. As
matter of fact July wheat sold down to
S1.15 for low today, but closed Il
higher than on Tuesday at $117A to
$1171a
The break of today is hang over.
1t was due on Tuesday, figuring the
comparison on the basis of the pre-
vious market day. which was Friday
July 1. Remember there were 2,1O0
cars of grain received in Chicago over
opening ensued.
There were but 70 cars of freshly
arrived wheat, 800 cars of corn, ana
cago on Wednesday morning. This in
itself was a steadying influence.
1t indicates that farmers are taking
notice. The rush of cars may not
hold out at present low prices.
But this is for future demonstration.
The situation is peculiar. The pres
ent price is paralyzing in view of past
experience and present conditions.
And if you think the farmer is the
only man vitality affected, you are
mistaken. The wheat market reflects
an economic situation of nationwide
significance.
1t is matter IN which all are in
terested.
Hogs Are Higher
In the meanwhile the grain farmer
also raises hogs. Hogs are up about
81 compared with recent days. The
top at Chicago early on Wednesday
was 1915 Indianapolis climbed to
1885 right after the market opened.
You may find some consolation in
these figures.