American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1921-10-07
WHEAT MARKET
IS DEMORAE|zED
REASONS GIVEN
AMERICAN FALLS GRAIN MEN DIS
CUSS SITUATION WITH QUOTA
TI0N AT CHICAGO, LOWEST 1T
HAS BEEN IN FIFTEEN YEARS.
HOPE FOR IMPROVEMENT
Gambling ON Board of Trade, Con-
TESTED State of Terminals, Forced
Liquidation of Farmers and Dump
ing of Wheat All Blamed.

Wheat on the Chicago market yes
terday was the lowest it had been in
fifteen years according to market re-
ports received by grainmen in Amer
ican Falls. The day closed with a loss
of four cents over Wednesday the
closing quotation being $1.0S. Local
grainmen were buying only where they
had to and paying $1.15 sacked for
white wheat and s1.20 sacked for Tur-
key Red.
The Press attempted to interview
every buyer in the city and found un
form belief that the market would re-
cover probably within the next thirty
days. All statements were qualified
however and little optimism was felt
regarding the immediate future.
=. Reasons for the rapid and recent de-
cline varied in some degree. A. A.
Whittemore blamed speculation on the
board of trade and the necessity of
farmer liquidation as the main reason
for the falling off of the market. j.
T. Fisher believes that the troublesome
export situation together with the tre
mendous visible supply is bearing
down hard on the market. r. e. Ear
ing blames the decline to the contest
ed condition of terminals due to farm
ers dumping their wheat onto the mar
ket in such large quantities. These
reasons combined are belived to have
ruined the market temporarily. Ex-
pressions from the grain buyers in
American Falls follow:
0. w. Pollard.
Forced collections from farmers
have encouraged the dumping of so
much wheat onto the market that the
terminals are flooded" said o. w. Pol
lard, manager of the Globe Milling
Company elevator. 81 understand that
SAey can't ship a carload of wheat into
sF4nsas City at the present time. That
means of course that buyers won't
buy. When this CONNECTION is cleared
l look for an upward trend, because the
world supply is known to be short. l
am hoping for better marekt None
of the dealers want to buy wheat in the
present market"
j. Il. Fisher.
That wheat will go below a dollar
a hundred due to export conditions
and the tremendous visible supply is
the opinion of j. T. Fisher, manager
of the Idaho Wheatgrowers Associa
tiop- Mr. Fisher expects the market to
recover before the first of the year
but will not predict the extent to which
early in the season that he expected
wheat to be around 60 cents a bushel
this fall,
L. 4. Earring.
Predicting what wheat will do on
the market, is a guess all the way
around, according to e. f. Earring, man
ager of the Earring Grain Company.
1T looks to me as if the farmers have
InI hot, oil a,,I
blocked the terminal markets" he said.
There are hundreds of cars at termi-
nails that canot be unloaded De mur
rage is costing a tremendous amount
and the market simply cannot stand
it." Mr. Earring believes the market
may go lower and that it may stay
down indefinitely. He rather thinks
however that it will recover in some
degree at least as soon as the present
blockaded condition is remedied
However l may make a very poor
guess" he added. at is a matter that
very few people if anybody knows
anything about"
A. A. WhittemOre.
1T loks to me like the garin gam
blers are taking advantage of the fact
that the time has come in the season
when the farmer must liquidate" said
A. A. Whittemore, when asked his
opinion of the market and conditions
surrounding it. Mr.. Whittemore ma
ages the Intermountain Milling Com
pany's elevator here He believes
that present world market conditions
do not imply a bearish market in fact
the demand should stimulate, rather
than decline the price. II look for the
present price to hold for thirty days
or so and then gradually rise until
March" he said.
L. ID. Nye.
The Oneida Elevator Company
bought $4,000 pounds of Sheriffs sale
wheat yesterday at 1920 a hundred
sacked, illustrating the fact that no
matteTthow low the market, there are
a great many farmers who simply must
sell their wheat They've just got TO
sell, that is all there is to it," said E.
ID. Nye, manager of the company. Il
am talking to as many as / can and ad-
vising them to hold their grain as
hate to buy il on the present market"
Mr.. Nye believes that the market Is
now about as low as II can go and
that turn for the better will come
soon.
Sid Stuart.
Sid Stuart manager of the Inland
Grs' Company is storing a consider
abIe Emount OF wheat and believes ii
good policy at the present time. The
market looks bad" he said "and there
is no telling what it will do. We are
storing most OF the grain that comes
to our warehouse.