The Washington herald., 1922-09-25
GRAINS HIGHER
Prices Advance on s'War
Scare" in Near
East.

CHICAGO. Sept f4.--0rain SaIues
at the beginning Of last week ap.
peared to reflect the recent upturn,
In the stock market and the per-
sistent optimistic views expressed
as to general business. In fact
this was mainly Responsible for
the buying Of corn, which moved
values up to the best figures In
severai months. The European
war scare also played a par. m
bringing up wheat prices. From
the standpoint of general business
conditions II was about time that
an advance SHOULD tase place, as
prices in the American and can
adian Northwest have recently
touched a. point where IL was a
question whether the producer was
receiving production costs for his
wheat and oats.
In parts of North Dakota re-
Gently No. durum sod at as
cents per sbusheL out of which there
had to be paid a threshing char re
OF IL cents per hrshel, leaving a
net return Of 80 cents per bushci,
and even with a twenty bushel per
acre yield the farmer would have
little money with which to pay up
other than pressing obligations.
even though he handled 100 acres.
Prospects, Of ForeiEn Buying..
There is an impression that for
eigners may have overstayed .ths.r
wheat market 1t is pointed ont
that on the basis of recent worl1
takings OF around $4,000, 900 busn-
els per week 221.ooo. 600 bushels
would be required from September
to February /, while all that tie
Southern hemisphere can contrib
ute up to the FIRST of the year il
about 25.oo6.ooO bushels. This ne-
cesseates practically all supplies
being purchased from North Amer
lea, which must furnish around
2oo.oo0.ooo bushels II Europe is TO
consume as much wheat as IL lid
during the first ten weeks of the
season. On this basis foreigners
must buy 100000 bushels uer
working day. while recently. jude-
ing from the messages from the
seaboard. the total has not been
over 100000 bushels.
There has been a far greater
amount of wheat sold abroad than
the trade is willing to admit, rs.
pecially in view OF the reported
purchases of 100000 bushels OF
futures at Winnipeg on September
is, which was instrumental IN
making an advance of cents per
bushel in that market in. connec-
tion with the war scare. 1t is es-
timated that around 25.o0o. 200
bushels OF cash grain and futures
changed hands in that market that
day, including purchases and sales
by spectators and others.
New Winter wheat Acreage.
Indications are for an Increased
acreage to be seeded TO winter
wheat In the Central West THIS
fall, while some reduction is likely
in the more northern sections on
account of unfavorable weather
conditions and the relatively low
price. The decline in wheat prom
ises to have considerable effect in
changing crop rotation plans
General expectations are that the
government October crop report on
corn will show a smaller yield than
the 2.sT5, 200. 900 bushels suggested
in September. owing to the further
deterioration believed to have been
-aused by the excessive heat md
drought early in the month. The
bulk of the crop is out of the way
Of frost damage and a considerable
percentage is already in shock in
Northern Illinois, while there has
been one report Of new corn al
ready sold in Iowa for shipping
purposes