The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-07-08
PRICE OF WHEAT WILL REMAIN
KICK AS LONG AS RUSSIA
Is NOT PRODUCING
world Shortage Of Coteon-Fnrmer Has
Cause Tor Considerable
Optimism

WELLESLEY Hills Mass. July In
discussing the general situation for the
week Role; w Bahsop the stausti-
clan toda, made the following analysis
o. tia cror outlook:
..roaA in;eres, /, centered around
rhe prospective 1924 crop output. !
cenno, ove.-estimats the Importance or
AGRICULTURAL products at this time. not
on:v AZ business barometer. but as
no means OF restoring confidence ana
1 higher spending power In those sec
ton, tina; suffered most acutely during
ms. dsprcss!on period. ! have travelled
through the grain and cotton areas ana
know the farmer carried more than MS
share OF the rcadjustmcnt reSponSipll'-
ties Ye. this Is history. and tho
farmer - looking forward with con-
siderable optimism TO probable develop
ments during the next few year'
IN, outstanding feature Of the June
government report Is that acreage OF
all wheat oats and reye Is 2."'o Tess
than a wear ago. but the estimated yl"id
70 l7lec greater. This means thol
growing conditions arc comparatively
ravora:nlc have yet To witness year
where crop scares and marked pr''e
fluctuations dId not matcriallze. "ea-
Their and insect ravaccs cannot he rore-
cast, but az conditions now stand. tho
total grain output should about eNuai
normal proportions. The winter ~heat
crop - now being harvested. the y'"'"
estimated al 9.lcc over 1871.
Wheat VIII Remain High
Spring wheat figures are placed az
l,S~c more than n year ago. with the
total considerably IN excess OF the ~
year average. Nevertheless. wheat -
s.atistically strong. Our eNPortaoIe
surplus for the current year was placed
A. oa5. O0O. oNO bushels Actual exports
for the season approached 265.Ooo'oO"
bushels The relatively large crop IS
entirely offset by the limited carry
oyer. Australian and Argentine stocks
ar. also limited True, tho price level
Of wheat Is high compared win corn
and oats. Wheat. however - Inc
nntural leader Rrd would max" one
po!n, Gear; namely that un''! h"SS'"
Is again I'm n position To feed n gHeat
portion Of Europe. the prir" "t wheat
In this country will remain hiEh.
ohio number OF acres devoted to oats
Is &C, under year ago. S'liI the
nrospcct!vc output ~ 23o; more The
estimated Weld OF 1.2H".00o.o0o bushels
,hnu, EQUALS the l0-year average. u
ie VOL known tina; oot prices ~" run
donrntally too low. Considering '''
limited crop Of year ag" ANA 'ea'N
corsumr;ion on the farms. IN" carry
,r,r promises 70 rule far unGrr norman
cro,o-,inns. This phase - no; u.s.
counted by INC present pric" i"N'I
,,icino,e higher average prIc" I"N"'
ror oats during tho 1928 season. IN"
rye rrnp elbows the most radical d"vH'-
onmcnts ~ all Acreage Is 1870 over
las, wear. while the prosperity" Ei'"
shows an increase &c 40|. WIN me
.xccn,ion II l9lS his IS me largest
nyurc on record There &c II" 'Hhna-
mental reason why ~" should not '"',
low tho general trend "c AGRICULTURAL
products.
with the advent "f the new crop !
marked price elevation Is not Logical.
S.nl no serious price dcclirc should
..,..rtua,c this cail. and the l9&2-@" sea-
s,,n,I rise should he nor" pronounced
,n,o IN tho season about to close. Inc
Hab>un Agricultural Index OF 10 lead
ing PRODUCTS IS now quoted at liS. which
shows A @S-point rise over the low dur
ing th, fan oc 1921. The elevation IN
agricultural products has already In
creased tho spending power OF me la:
u,-r II should hc remembered that
lqoo r-oducinc CoStS-iahor. fertilizer
End lrauspcrtation--arc ranging on
moro popular basis compared WIN 49,
cent years. Therefore, with good crops
and a higher average price over re
next year. the farmers income Is ""Whi
to return gradually 20 normal
Cotton
.; an, rartlcuiarly Interested ~ COT
ton. The condition is HOW estimated
around 10. which compares with ~
wear average Of IS. Last years crop
Wa, the smallest IN modern history. N"t
the record carry-over constituted to-
tai figure that successfully COPIED with
the curtaied European and domestic
demand This year the Carry-over IS
nearly back to normal proportions an1
a rrop in excess of ll.500.000 bales is
not Indicated This means that the
total supply Is about equal last years
figure but the potential demand =
greater.
Europe has been taking between
400 600 and 100000 bales annually
cine" 1913" concluded Mr.. Bahs"n. "rh'
.orr-,var figure was between 5000 Uun
md q. 200 GOA bales. Europ" must buy
law cotton 81 greater quantity If Sh"
/, To- maintain supremacy In tn" finish
ID nrodurt with the settlement OF II"
rrcS.ut textile strike. domestic con-
,;tnrtium will h" higher not lower.
Incorc'icallv tNcrc is q world shortag"
or cotton and until tho statistical pos
zion IS corrected. a condition that can
no. mutcrIali2c for NJ least another
year the avcraE" ur;C" Will remain a
high T. not higher than the present
level"
General business according To the IN
dex figure Of thc Rahsnnchar; stands at
: "a &c No