Evening star., 1941-03-31
Commodities Reach
Best Marks Since
Fall Of France
Lend-Leuse Assistance
To Brituin Revives
Export Hopes
BY FRANKLIN MULLN,

CHICAGO, March 3f.-The farm
commodities price picture is showing
its brightest tinge since the fall OF
France.
Many important agricultural prod
ucts, revived by hopes that Europe's S
demand for food eventually will be
met in some way now are selling at
around the highest levels since the
collapse last May when the Ger
man armies swept into Western Eu-
rope.
Hopes that the American agri-
cultural machine, reversed by ellml-
nation of much of the European
market for foodstuffs, might again
be thrown into high gear, as 1t was
a quarter century ago, lay in growing
lend lease assistance to Britain and
in the increasing scope OF the war
itself.
Government entrance into the
market for such important farm
commodities as eggs, dairy products,
lard and large-scale defense require
ments for hides, wool and foods has
increased demand. OF paramount
Importance also has been growing
demand from civilian consumers as
national industry fattens pay rolls
and strengthens ability to buy.
Progress of farm legislation in
Congress, with talk of higher COM
modify loans, also has been a factor.
Crop Outlook Good.
Elevation of farm prices has oc-
Cured despite the excellent outlook
for 1941 crops due to the greatly
improved moisture situation.
Butter and egg production has
been heavy rd-breaking car
ryovers of wheat and corn are on
hand and large surplus stocks are
piled up under loans and Govern
ment control Decreased planting
of many crops this spring is in pros
pect and the spring pig crop may
be smaller, but the weather and per-
formance of prices still can have
tremendous influence on total l94l
production.
Commodities market experts see
much similarity between trends OF
the past 18 months and those of
the 1s14-191S period when the Euro
pean call for food became so great
that American agriculture, stImu-
lated by high prices for land and
its products, expanded beyond pro-
portions which later proved neces-
sary for normal requirements.
The l94l picture is different, how
ever, because of the character OF
the war and the many controls and
safeguards now exercised by gov
ernmetal authority. Furthermore,
at present there are large surpluseS
of some commodities which did not
exist then. However, there are no
surpluses of many of the foods most
urgently needed abroad, like meats,
dairy products and certain fats and
oils.
Wheat Market Rallies.
Chicago wheat is near 95 cents a
bushel for spot delivery, somewhat
lower than year ago, but 25 cents
above the level to which it fell last
summer. Corn is around 10 cents,
about dime a bushel higher than
a year ago and the top price for this
time of season since 1887. Butter
is near 33 cents a pound wholesale,
the highest since late last year and
5 cents more than year ago. Eggs,
priced around 81 cents dozen for
best grades, also are the highest of
the year and about 5 cents above
prices a year ago.
Hogs, at better than III cents a
pound show an increase of more
than 212 cents over year ago and
near the best levels since 1888. Best
cattle are more than Q cents higher
than a year ago. while lambs are
the highest in three and one-half
years. Wool, hides and lard prices
have risen 18 to So per cent since
the war began, most of the upturn
coming in the past year. Best hide
grades are quoted around 13 cents
pound against II year ago. Lard,
at near 7 cents, is more than 2 cents
higher. Bright wool, at "a to 81
cents or better. is 7 to 8 cents higher.