Middletown transcript., 1921-10-15
GRAIN PRICES Low
Farmers Reverse Holding Policy Of
Last Year
RUSHING CROPS TO MARKET
BY CHARLES D. MICHAELS

CHICAGO, OCT. 9.-Depression in the
grain markets due to excessive market
ing by farmers has brought them to
semi-demoralized condition. The latter
has swamped the speculative trade,
filled up the export demand to large
extent and brought values down to the
lowest level of the year, and on corn
and oats to the lowest since 1912.
Farmers have marketed upward OF
$50, 900 900 bushels of wheat since July
l, and a. primary markets alone the
receipts have been 2O9, 900, 900 bushels,
80. 900. 900 bushels more than last year
The corn movement has been the
largest known in the last few months,
and oats are we'll toward the high
mark in the marketing line. with 67,-
ago. 600 bushels moved to primary mar
kets in nine weeks, 5,OO0.0 600 bushels
more than last year. The visible supply
of wheet is above the average for this
season, with the exception of 1888.
The supply of corn is the largest for
this time of year in more than ten years
and oats the heaviest on record.
Farmers have reversed their action OF
last wear, when they held their grain
back for higher prices. while this year
they have sold freely. The latter are
tired out and are liquidating at severe
loses. Virtually all grain for future
delivery held at the close Saturday
showed losses, except purchases made
at inside prices at the session. The
United States Grain Growers, Inc, an
nounce that they have 80. 600, 600 bush
els of grain on hand and will market it,
the officials having power to sell wner
they deem best.
So far farmers who have come ou,
hest are those who marketed their grair
during August and early September
The War Finance Corporation is pre-
pairing a loan of 81, 900, 900, 900 to the
AGRICULTURAL interests. The money
must be put out at once or relief mus
come, from other directions to stop th'
panicky selling.
In Western Nebraska wheat is sell
ing at seventy cents bushel at loading
stations, freight rates being so hlgl
that grain values are depressed. 4
letter from a farmer in Western Nortl
Dakota tells of foreclosure sale a
which horses sold at 81 head, mare
with foal at $40. wagons at 70, har
vesters at $40 for cash. Many farmer
are leaving that country except thos
who are unable to or have no othe
place to 60.
They have not raised enough to pa
their taxes, to say nothing about pay
ing interest due on mortgages, an
holders 6E the latter have in some II
stances been obliged to pay the take
to prevent the land being sold. The
will also have to carry the farmers vi
til another crop is raised.
Labd in North Dakota that sold
$50 an acre few years ago cannot
disposed of at $40 at present. Undt
such conditions there can be no gener
prosperity unless the agricultural inte
ests are enabled to get better price
The situation from market stan
point is extremely pesslmistic.
fact, 50 much SO that it is time for
change.
Movement of the Canadian crop
expected to be the big factor for son
time to come. Canadian farmers ha
marketed freely and the movement +
the next sixty days will be heav
Canada must sell an average of 1,OO(
900 bushels day for the next nine
days to work off its surplus, and t
heavy movement there is regarded a:
depressing factor.--Phild. Ledger.