The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-06-30
CQt11111Ot1S Case Is
Presented to Juru

Separate Announcement, How
ever, Attributes Wheat Rise
to Money Change
Washington, June 30.-(P-In the
first official appraisal of recent crop
damage, the bureau of agricultural
economics has forecast the smallest
crop OF small grains-wheat, oats, rye,
barley and flaxseed - that has been
harvested in this country I'm q gener-
ation."
In another announcement 1t attrib-
uted the recent rise In wheat prices
largely to dollar depreciation in for
eign exchanges" asserting that, de-
spite crop damage in this country
the domestic market is still murdered
by a very large carry-over and the
world market price Is still at q very
low level"
It estimated that the world carry
over as of July would be approx
mately 100000 bushels larger than
last year, which would be new rec
ord. It set the domestic carry-over at
approximately the same figure as last
year, &c., 000, 900 bushels.
The bureau said drought and other
weather damage had reduced the
wheat crop to be harvested this year
below estimated domestic needs, which
ordinarily are from 1000, 900 bushels
to 650,0OO,0 900 bushels, including hui
man food, livestock and poultry feed
and about $4,000, 900 bushels for seed.
Watch Price Changes
Meanwhile, administrators Of the
farm act watched the rises In both
grain and cotton prices in an attempt
to measure the reduction they might
cause in the processing taxes that will
finance the acreage-reduction pro-
grams.
The wheat levy has been fixed at
80 cents bushel effective at mid
night. July 8, based on that margin
of difference In the current average
farm price and the p1e-war average
farm price for the period May IS to
June Is. Since the latter date, wheat
has increased sharply in price and
administrators decided to ignore this
rise in order to levy the 80 cent tax
which their plans called for.
However, while they disapprove OF
changing the tax rate frequently or
reducing 1t below 80 cents, a con-
tinuation of high prices would ulti-
mately force them to reduce the rate
under provisions of the act.
Small grains have been injured
most and it appears that the total
outturn will be the smallest in a
generation" the report said. "Oats
are practically ruined over wide Sec
tions from Ohio westward and wheat
shows injury which has been rated
in the markets as sensational
Reports from Nebraska and South
Dakota indicate a wheat crop only
fraction Of normal, and wide areas
elsewhere In the wheat belt show an
exceedingly thin crop with short
straw and much shriveled grain. Both
wheat and oats have been cut for
hay in many sections.
although corn and cotton have
not been as yet badly injured by the
drought, corn is beginning to show
the bad effects Of heat and dry
weather, and cotton is late In parts of
the western belt and is now generally
In need Of rain"
will Still Have Surplus
Despite the outlook for crop Of
wheat below domestic needs-which
would be the first this century-the
bureau asserted that the new crop,
together with the domestic carry
over, will probably provide surplus
for export"
There is little prospect of selling
this surplus aboard so long as United
States prices remain far above an ex-
port parity with the world market"
it said. THE rise In wheat prices
here is attributed largely to dollar
In foreign exchanges
since the domestic market Is still
burdened by very large carry-over
and the world market price is still at
a very low level"
Last year the world carry-over for
the four chief wheat producing coun-
tries, the United States, Canada, Aus
tralia and Argentina, together with
United Kingdom port stocks and
stocks of wheat afloat, was estimated
at 665 900, 900 bushels.
The bureaus estimate for an in
crease Of $4,000, 900 bushels in this fig
ure would bring the carry-over to
us ,0O0,0 900 bushels.
Some private estimating groups
have reckoned last years carry-over
as Of July l, 1882, at more than 900,-
BOO, 900 bushels. These include esti-
mated interior stocks Of Italy, France
Ind other countries which the bureau
does not compute on grounds that
they cannot be definitely determined.
The bureau said Friday. however,
that "some importing countries, not
IDLY Germany and France, apparent
y have larger stocks than they did
yaovs