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Corn. What would become of all the corn that Iowa's young men were husking was last week settled by the Secretary of Agriculture. Mr. Wallace announced that any farmer who cannot sell his corn for better than 45? a bu. on the farm can put it in a sealed corn crib and borrow 45? a bu. on it from the Government. If the price of corn rises, the farmer can sell it at a profit and pay off his loan. If the price of corn falls, the Government will take the corn and cancel the loan. With...
...plan, Secretary Wallace started something still newer, his potato plan. Under the terms of the Potato Control Act, he announced the first national potato production quota, similar to cotton production quotas under the Bankhead Act. U. S. commercial growers may not, he decreed, raise more than 226,600,000 bu. of potatoes in 1936. Counting raisers of less than five bushels and growers for home consumption only, who are exempt by law, he guessed the total crop under this quota would be about 350,000000 bu. compared to the 1928-32 average of 363,000,000 bu. Biggest quotas allotted...
Depression brought a bad setback to mechanization. In the first place, the farmers' gross income dropped from about twelve billion dollars in 1929 to about five billion dollars in 1932. In the second place, falling prices on farm products made mechanical farming uneconomic. With wheat at $1 per bu., the tractor-farmer should make twice as much money as the horse-farmer. With wheat at 40 ? per bu., the horse-farmer may make a little but the tractor-farmer will lose...
Though all four great markets seesawed sympathetically with changing prospects for War or Peace last week, the upward surge in world wheat had one fundamental cause: supply & demand. "Were it not for the very heavy carryover of Canadian wheat, amounting to about 200,000.000 bu.," said Grainman Fred Uhlmann of Chicago, "I believe there would be a scarcity of wheat such as has not occurred in a decade or two." Fact was, instead of having four or five major wheat exporting nations, the world this year will have only...
...everyone knows, the U. S. is no longer a major exporter and has not been for years. Crops for this and the two previous years have averaged nearly 100,000,000 bu. below domestic consumption of about 650,000,000 bu. annually. This year, moreover, the 595.000,000 bu. harvested is light in weight, requiring the use of more bushels per barrel of flour. The surpluses piled up prior to 1933 are nearly exhausted, and before the next harvest U. S. millers must import perhaps 50,000,000 bu. of high-grade Canadian grain over a 42¢-per-bu. tariff...