The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-06-26
HIGH TEMPERATURES
INJURE ALL GRAINS;
ADVANCE IN PRICES
BY William r. Sanborn

BY William n. SdnpOFH
What of the winter wheat crop now
being harvested? What has been the
effect of lack of rain over consider
able territory at filling time, and heat
which has caused premature ripening
in parts of all the winter wheat states?
How have these factors affected guam
tity and quality?
These are the paramount questions
which confront every wheat grower
and the entire grain trade. For the
present there can be no immediate So
luton. Nor will the government esti-
mate as of July /, and which will not
be given to the press until the after
noon of July 10, have any real effect
on the situation. The threshiug ma
chimes and the testing scales will
finally tell the story which means So
much to America and to the white
bread consuming world.
AS matter TO fact wheat has suf
fered from too high temperatures, not
ably in Missouri and Kansas, during
past 10 days. The crop is now made
and that a part of it has been reduced
by the shriveling of the berry and a
reduction of the quality by tempera-
lures of 100 or more during the past
week, is considered a certainty. The
actual damage can only be guessed at
by men on the ground. That the late
terminated wheat, of which. there was
considerable because of fall and win
ter drouth, in places, has been injured
can hardly be denied. How great the
acea so injured, and to how great an
extent cannot be stated But little or
much it win all count in the final
! reckoning
About Spring Wheat
At this writing spring wheat looks
most promising, but spring wheat is q
long way from harvest. Spring wheat
may have its troubles ahead and these
might change the outlook materially.
In the meanwhile we must not over
look the European situation. France
| faces deficit of around $4,000, 900
bushels of wheat, which means that
| she wills be a heavy importer, unless
| the French turn to rye and barley
/ bread, a last resort for French peo-
! pie, who are not rye eaters like the
Germans, Polish and some other Eu-
ropean populations.
Taken at it's best, these is no great
probability of an excess of wheat in
f! the world for this crop year. There
may, indeed, be a shortage, much de
pending on the American and Canad
ian crops of spring grain. To the
present writer this doesn't seem to be
good time to be. bear on wheat.
Cash Interests Bearish
But just the same the cash inter
ests are bearish on wheat, both at
| Chicago and Kansas City. The ele-
vatormen are expecting heavy receipts
and midwest railroads have set thous
ands, of cars along the side of the
grain fields, at points readily avail
able. The railroads are ready fol
action and the cash grain men are
looking for liberal movement from
the machines.
And while on this subject we must
not overlook rye. The estimate is
for S1,000,000 of rye, or 100000 in
excess of last years crop. On top Of
this is a large carryover. Poland has
a large crop of rye and this may tenC
to reduce our rye exports to centra
European countries, notably Germany
Today rye is selling 26 cents under
wheat, a feature that should help ex
ports where rye is needed. The rye
grower has less to encourage him tt
look for higher prices than have whea
growers.
The Trend of the Markets
The movement of winter wheat will
be we'll begun within a week or tel
; days. 1t is thought that if presen
prices are maintained receipts will b.
liberal. But it is a question of wha
farmers would do in case of break
The supply might dry up pending a.
upturn to what would be considered
reasonable price at country stations.
Weather, crop news and carrying
charges are now the dominant factor
in all grain markets, and will so cor
tinue for some weeks. Wheat advanC
ed about cents per bushel at Oh
cago last week. figuring from the 10y
of the previous week. The high an
low on July wheat during the weeF
was $1.09A and $1.155s; on Septen
= Der, S110a and $1.161a, and on Decen
: Der the range was from $1.1412 |
: S1191a
= July corn ranged at 81 cents to
: cents last week, with December toucl
; ing ga cents and 6S cents The rang
; in oats also showed action. With
low of 1895 cents on Monday July oat
touched 1914 cents on Friday, Will
December oats moved between 3
cents and 43h cents for the week.