Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-01
ADVANCE IN WHEAT
PRICES EXPECTED
World Reports Indicate
Shrinkage in Crop, Due to
UnfavorabIe Weather.
BY FRANK 1. WELLER.
Associated Press Farm Editor.

Crop news t STRENGTHENING the
opinion that the international price Of
wheat Is likely to advance when the
market feels the full effect Of losses in
yield and acreage reduction.
Reports from "a countries indicate
that the wheat crop this year may be
about 100000 bushels less than last
year. wet harvest prevails in
Northern Europe and practically all re-
ports suggest a downward revision Of
estimates
There has been considerable rain In
Germany: the condition Of Winter
cereals in Austria Is below that of a
year ago, and 40 per cent of the wheat
crop IN France is said to be In danger
OF sprouting in the shock.
Soviet Production.
Despite the per cent increase In
wheat acreage in Russia and the huge
ooo, 900 bushels this week, the total out
turn in the Soviet Union Is expected to
be relatively small because of damage
to the Spring wheat crop. Spring
wheat In Russia Is Russias chief con-
tribution to the world store Of bread
grain.
Indications are for a 80 per cent re-
duction in this years seeded area In
Australia and 20 per cent reduction
In Argentina. The Canadian visible
supply has decreased more than g.
o00,00 bushels.
According to farmers intention to
plant there will be a reduction Of about
l00, 900 ,0o0 bushels in the United States
crop next year, presuming 1882 TO turn
out NORMAL yield of Spring wheat.
The trade, however, is not losing sight
OF the fact that domestic supplies now
total about 1918, 900 900 bushels Figur-
ing $50 000, 900 for domestic requirement.
and 3,000,0 900 bushels for export-the
approximate amounts for the last year
there may be carry-over this year of
about 32o,o00,0oo bushels after wheat
for feed and seed Is discounted
Nevertheless, some believe it will take
only an insignificant development TO
crystalline trade attention and senti-
ment. now that prices have scored the
lowest level in almost 80 years. Sep
| TENDER wheat dropped last week to the
lowest point since October, 1852; Sep
TENDER corn to the lowest since 1900,
and September oats to the lowest since
1897.
Many in the trade are inclined TO be-
lieve that prices have touched bottom
and Will attract both consumptive and
investment buying, while producers may
, hold their grains for higher prices.
Cheaper Russian grain in both Euro
pean ana oriental markets and con-
tinued light exports were the principal
causes of the sag in domestic prices.
Russia offered wheat freely in Liverpool
at 44s cents a bushel, compared with
STA cents for q. S. No. hard Winter.
Strength In Oats.
Activity and strength in oats sur
prised the domestic trade. A short.
lightweight crop and small commercial
supplies, together with heavy feeding
account, scarcity Of old corn, poor pas
lures and a short hay crop, makes
higher prices an almost ultimate GER
tainty.
Oats are good feed and they are cheap
and the crop probably will be consumed
on the farms which grow 1t unless
prices advance. The trade has noted
I the unusual circumstance of oats beins
! bought in Illinois for shipment to Iowa.
Corn in the northern third of Iowa
Is said to be dried up, with fodder cut
ting and silo filling being pushed 10
| save as much feed as possible. 1t is said
! to take about twice as many acres as
! usual to fill a silo.
While the price of corn futures fell
to the lowest point in 30 years early in
the week, it was more than made up
by the later advance. Marketings were
light at total of only 100000 bushels.
compared with more than 100000
bushels year ago.