Evening star., 1933-01-28
COMMODITY GAINS
! BELIEVED ASSURED
Traders Point, to Possible
Truce in World Economic
Conflict.
BY OWEN L. SCOTT.

special Dispatch to The Star.
CHICAGO. January ga flicker Of
light, hopefully interpreted as the
presage to decided break in the dark
economic clouds enveloping agriculture
was seen by traders on commodity ex-
changes this week.
They look expectantly to two bright
spots on the horizon: First, the prospect
Of a possible truce In the present in
ternational economic war. and second,
tne imitation Of legislation In Congress
TO adjust the billion dollars in farm
aeots: Both Of these factors bear
heavily on agriculture.
Evidence Of Stability.
Farm markets did not respond with
any vigorous upturn to these develop
ments, but they gave further evidence
OF the stability that has been apparent
since December. Grain and live stock
markets moved only narrowly. Wheat
was about cents over the price pre-
vainng at the start Of the month, hogs
and sheep were up, but heavy cattle
proved hard to sell at the lowest levels
OF the century.
Economists claim that at present
american farmers are bearing the brunt
Of the world trade war, now being
waged with tariffs and currencies.
So devastating has been~the effect
tnat this country's exports of wheat,
once leading the world, now are run
ming scarcely per cent of the Cana
dian exports. Canada is favored by a
tarin advantage in the British market
and has deprecated currency.
Dc %
with our pork products, which formerly
dominated foreign markets. Quota re-
str1ctions and tariffs lately have dis
rupted these markets, throwing bacon
and lard back on our consumers, with
bad effects on the hog price level
Fur that reason. any steps taken to
bring truce in the battle is welcomed
by grain traders and packers.
The organized grain trade. through
the Grain Committee on National AZ
fairs" asserts that the basic ills of
farming are due to debts and to ex-
port market losses.
Say the conservative grain men In
their study:
THE men who have made these
mortgages on their farm properties, and
for whom they now spell financial dis
aster. have been forced into making OF
them in a struggle to overcome opera
tive losses brought about by continued
Government policies that have con-
tracted the market for farmers prod
ucts and advanced the general COM
modify prices Of the things which he
had to buy"
Urge Sympathetic Attitude.
They suggest sympathetic attitude
on the part OF the general public toward
measures designed to relieve the debt
burden. This relief is proposed through
the extension of Government credit to
refinance mortgages as provided by bills
now before Congress, sponsored by Sen
ator Joseph Robinson, Democratic
leader.
While negotiations and legislative
moves are being made to try to settle
some OF the current problems of farm
ing, the farmers themselves are trying
some remedies Of their own. Market
ings Of grain are so slow that cash
grain continues to command a premium
over the futures Live stock market
ings likewise are being curtailed with
receipts Of 20 principal markets since
the first of the year. showing a de-
cline Of 20 per cent in the number OF
cattle offered. ~ per cent in the num-
Der of hogs and 80 per cent in the
number of SHEEP.
(Copyrisht. 1889