The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1929-08-28
HOLD YOUR WHEAT


Hold your wheat says the Minnesota Wheat Grow
ers Cooperative Marketing Association. In a lette
to the Gazette, among other things, the followin
items quoted:
"The 1923 grain in terminals and at countr
points, together with the flow from the crop, ha
created grain blockade that is of the most seriou
character. Exports comparatively slow and tn
terminals filling up.
Two weeks ago the Minnesota Wheat Growers
sounded the warning through the press the farme
to Hold His Wheat That advice still holds.
Selling the present market means price-sacri
flee that the farmer and those to whom he may b.
indebted cannot afford.
The clogging of the grain elevators has resulte,
in three separate and distinct slashes at the price re
ceived by the farmer.
First: Because of the risks involved, the sprea,
taken at the local elevator has widened by severa
cents over normal. The abnormal spread comes GU
of the farmers pocket.
Second: The terminal price today makes no al
lowance for protein quality. The 1929 hard spring
high protein wheat necessary to high grade flour max
ing is being bid for exactly though it had no super
ior milling value. The farmer is losing the tota
amount of the value of his extra protein-anothe
matter Of several cents per bushel-hs in face of tn
spring wheat crop.
losses,
who today sells for cash is obliged to accept an actua
cash discount of another several cents per bushe
der the September option. Right at the moment thi
amounts to five cents bushel loss additional
the loss he susains from not securing his legtmat
protein premium and his further loss due to the extr
wide spread between the local and the terminal mark
cts.
We might point out to you that members of tn
Minnesota Wheat Pool are insured against all thre
losses and that by using the borrowing power of thi
Association, they secure an immediate cash ad
vance of S5c bushel on No. l Northern and lik
liberal advance all other grades and kinds of grain
The Pool grain will not be sold until the marke
assumes normal relationship -not until the spread
are narrowed not until the cash wheat discounts dis
appear, not until the legitimate premium values ar
restored.
And the farmer who markets through the Whea
Pool will receive these added cash sales in the fna
settlement for his grain
In the meantime, he is getting liberal cash loal
sufficient to take care of his more pressing obliga
tions
We believe that the Pool method of marketing i
generally applied, would tremendously help the entr
Northwest this year.
The farmer who sells the present market max
es somebody present of every cent he loses on tn
real value of his grain.
The local grain buyer may, if he is lucky, get
little OF this but all the that the farmers lose
goes out OF the community and is direct loss nc
70 the farmer alone, but to every creditor of his.
For this reason the present grain market is re
acting dlsasterously all Northwestern business
TO the farmers first of all, and after them to til
BANKS to the local merchants to everybody depender
IN any measure upon the paying power of the farme
The advice to the farmer to hold his wheat
sound. Since we first gave it, that advice has bee
echoed by the Farm Board, by the large business il
terests and even by the grain trade itself. Only
holding his grain off the present market can he g,
for it its true market value
The farmers in the Minnesota Wheat Po
are doing this They do so because, through til
intermediate Credit Bank the Wheat Pool finance
its own members. But the degree to which we ca
help tide over the present critical Northwestern bus
ness situation depends entirely on the extent to whie
the farmer, not in the Pool realizes and rrasr
his opportunity to hold his grain and borrow to cove
present needs"
Industry is coming to the smaller cities, accordr
to prediction by Martin insult President of the Mi,
die West Utilities Co.
Eiectrlcity and the with which power ma
be transmitted makes it very likely that industri,
of the future will be located in the smaller town
away from the cities noise, dirt and congestion.
Now If we can only find some means bv which "
can make freight rates of mid-western towns con,no
with the water rates of the East and West or els
provide waterways for oursleves the Midwest ma
yet become industrial well as agricultural.