Evening star., 1925-01-21
FARMERS MISSING
PROFITS IN WHEAT
Crop Sold Before Amazing
Price Rise-SpeCuIators
Get Big Returns.
BY j. c. ROYLE.

Special Dispatch TO The Star.
NEW YORK, January 21.-Men who
grow wheat are not benefiting eX-
tensively from the advance in grain
prices to wartime levels. There are
some exceptions, but in most In
stances farmers sold their wheat last
Fall, when prices were much lower
The majority of producers in the
grain belt of the Middle West sold
before the high mark approached. In
some sections of Kansas only II per
cent of the crop has not been mar
keted, and in other Midwestern sec
tions the percentage is as low as 5
per cent.
In the Northwest, however, consid-
erable quantities of wheat have been
held at point OF origin awaiting this
advance to the So mark or above.
There has been no dumping of this
wheat, however since farmers seldom
sell on a rising market. and much of
this grain is not expected to come on
the market until sag in price comes.
In California farmers are selling
heavily, as almost half of the crop
there still is in first hands. One farm
er today disposed of 40. 900 sacks at
S3.25 hundred pounds. and other
sales ranging from 10000 to 25, 900
sacks have been fairly numerous.
In the Pacific Northwest the ma
Jority of the grain growers got about
Sl.5O bushel for their crops, and
only to per cent of the yield still
remains to be sold. Dealers are bid
ding $2.2o a bushel for Big Bend blue
stem for March delivery, with none
offered. In fact, much of the wheat
acreage in Oregon, Idaho and Wash
ington must be replanted, and so
much wheat has been sold that some
farmers find themselves without seed
All In all, the present wheat mar
ket is a speculators market, not a
farmers market, but the latter are
scraping up every available grain of
wheat and skimping on their own
requirements to take advantage of the
present price. Fifty million bushels
which last year went into farm use
will reach the market this season.
Bakers See Higher Bread.
Just as soon as the flour now on hand
consumers can expect an advance in
bread prices, according to the American
Institute Of Bakers. In the case of the
big bakers, however, this will not come
for some time yet In their case ad-
vanced -four prices are not reflected in
bakers supplies for from 90 days to six
months. since they keep large stocks or
panies, ordering flour shipped as needed.
Most of the larger companies purchased
their supplies before election. For the
big concerns -four represents only 90 to
% per cent of the cost Of producing and
selling a loaf Of bread.
Flour prices have made repeated
advances along with wheat. Fancy
patent soft wheat -four at $1010 to.
S10.60 a barrel and hard wheat short
patent -four at 1915 to $10.10 at
Kansas City eclipse any prices in that
market for years. Similar advances
are shown at Portland. At Omaha
-four has jumped nearly 81 a barrel
in two weeks. In the Twin Cities
nillers say they will have to advance
-four prices further if wheat keeps
up, but that this is not expected TO
reach the consumer unless the wheat
prices bold up for several weeks
more. Mills in various sections of
the country are busy. as bakers are
specifying freely against contracts.
Smaller bakers. who buy -four as
needed. are affected by price advances
much more quickly. and some Of these
already have advanced their bread
prices. In some sections the small bread
producer faces an extremely serious
situation, since the larger rivals are not
inclined 10 advance bread prices unless
wheat remains for some little time at
present levels. This is especially no
ticeable in the Northwest.
Many expert judges, including
farmers, millers and bakers, antici-
pate a sag in wheat prices, but none
is willing to predict when It will
come, how extensive it will be or
how long II will last.