Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-03
FARM BOARD AIDED
BY RISE IN WHEAT
Federal Agency Enabled to
Dispose OF Some Holdings
of Grain Surplus.
BY OWEN L. SCOTT.

Special Dispatch 20 The star
CHICAGO. November 3--Advancing
grain prices. with wheat more than 30
t,er cent and l7ia cents above It's his
tortc low point of october 5, are pic
t,Ired bv trade economists here as hav-
ing more than their usual practical
significance at this time.
Nearly half OF the 1881 wheat crop
and almost all Of the corn crop still is
on the farm. or held In storage by the
actual producer. That means that q
large percentage of the $400, 900 900
paper gain occurring In grain prices
since the October bottom, Is accruing
To the farmer. OF this total. wheat Is
chalked I'D slOO. 600, 900, corn, $3.50, 0o0,-
600 and oats, $4,000 900. II half Of
this could be credited TO the producer
his financial burden would weigh less
heavily.
Buyers Raise Bids.
At the same time, the bulge IN values
Is providing a cont enient out for the
Federal Farm Board. which has been
able materially to reduce its huge hold
inas of sterilization wheat.
People who did not want wheat at
as cents have been striving TO buy it at
60 cents and more" explained George
S. Minor, president Of the Grain
Sterilization Corporation. Farm Board
subsidiary. "A tidy sum can be sub
tracted by those who were figuring what
the Farm Board had lost in stabilizing
operations. II the credit negotiations
with foreign governments are success
full we will cut our holdings down some
more"
Mr.. Minor has let it be known that
the Government agency already has dis
posed OF $1,000 900 bushels of its wheat,
which 47,5O0,000 went to foreign gov
ernments. But the Farm Board heads
promised farmers early in the year that
they would sell no more than 5 1000, 900
bushels a month without replacing with
new purchases. As consequence, much
open market buying in recent sessions
has been by Farm Board brokers.
Caution Is characterizing the bull
operations in grain at this time. The
big traders, now back in commodity
markets after their fling in securities,
expect to see reactions from the recent
upward trend, and they are setting their
detectives less high than formerly.
Sees S5-Cent Wheat.
Arthur Cutten, we'll known Spectator
who sponsored the advance in wheat to
above 81 a bushel in 1924, again is
back in the trade as leader. But he
mentions 85 cents as the real worth
of wheat. At first the objective was
IS cents a bushel. That mark was
passed on Saturday and now the i'm
mediate aim is set at rs cents.
Most of the countries of Europe at
present are inquiring about wheat pur-
chase possibilities in this country. Rus
STA recently dropped pretty much out
Of the picture as an exporter, owing to
the poor quality Of her crop this year
and to exchange difficulties. With
Southern Hemisphere wheat unavailable
until February, importing nations have
turned to the United States and Canada.
Their requirements for the next two
months are set at 140 ,00o, 900 bushels.
While grains are advancing, one I'M
favorable turn has occurred for the
farmer in live stock markets, where
hogs have broken to a price under So
the lowest since 1903. Sheep are lower
than at any time in over 90 years, while
only prime cattle are bringing salts
factory returns. Live stock has formed
the principal sustaining income of a
larger percentage of Middle Western
farmers, so that the present low prices
represent an off set to any gain through
enhancement of grain prices
(Copyright 1917