The Ypsilanti daily press. (Ypsilanti, Mich.) 1928-1962, 1941-08-16

Babson Park, Mass, Aug. Is
The steady gain being made in the
production OF essential foods will
do as much to ultimately win
World War II for the Democra-
cies as will the building OF mech
anized and other implements OF
defenses At the proper time the
agricultural surpluses OF the Unit
ed States and Canada which for
months past have been under
transfer to strategically located
seaboard points will be OF prime
value in negotiating with the Ger
man people mot necessarily with
Hitler's gang the kind Of peace
the Allies want. The day may
come when the man or woman OF
Berlin will consume as much Amer
lean and Canadian wheat as will
the people OF Detroit. London or
Montreal.
Grain Holdings
The United States government
owns approximately 370,00O,000
bushels OF wheat, corn and rye. In
addition they hold as collateral
under seal for loans TO producers
another 340,000,000 bushels of
corn, wheat. barley and rye. All
this was either acquired by the
government or sealed under fed
eral loans at prices under current
market quotations. Allowing for
deductions covering storage, car
rying and handling charges. the
L. S. Government and cooperating
farmers have a paper profit from
their operations since 1888 which
is estimated at approximately $780,
600. 900.
The weekly visible supply Of
wheat is showing huge increases
in the U. S. and Canada. Both
countries will have large harvests
from spring sowings. The U. S.
total crop will be the fifth largest
on record. Storage facilities are
becoming acute as these harvests
gain momentum. In one midwest
terminal alone So per cent OF the
arriving wheat is for storage rath-
err than for sale. Freight cars are
piling up to the detriment OF de-
tense shipping. In spite of our
big crop and large carry-over the
price of wheat continues to rise.
| anticipate that there is little
OF a price ceiling for
wheat or for other farm products.
at least in the near future.
Prosperity For Farmers
The Department of Agriculture
reports continually
rising level Of prices for farm prod
ucts. From the middle OF March
to the middle OF July prices rose
% points. Certainly. still higher
prices can be expected for the
grains. This is why wheat farm.
ers are at present storing SO much
grain rather than selling it. Ulu-
mately they feel the government
will take it over anyway, so why
sell now for less than they can get
by borrowing on their current
crop at present government loan
rates? Hog prices also should con
tinue to average we'll above a
year ago and the price OF cattle
may likewise be maintained at a
relatively high level. Consumer
demand for these products as we'll
as for lambs, chickens. and dairy
products should mean higher prices
all around for the long term.
While no reliable news is avail
able, in all probability not a great
deal of wheat in the Russian
Ukraine has been lost either thru
destruction by the Russians in
their retreat or by the German
advance. For one thing the crop
was too green TO burn. Hence.
the bulk OF this will probably be
available for Central Europe. II
will be far from sufficient, how
ever, and with the continuance OF
the British blockade food condi-
tons in Europe will be terrible.
Our own exports OF all farm prod
ucts to Great Britain. particularly
OF dairy products are steadily bulk
ing larger. Ultimately the L. S.
and Canada will be called upon to
feed the greater part Of the world.