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...foreign purchasers for its wheat, the Federal Farm Board last week reverted to an antique form of barter to help reduce its surplus. Into the Brazilian Embassy on 18th Street marched George Milnor, who as general manager of Grain Stabilization Corp. is official custodian for some 200,000,000 bu. of U. S. wheat. There he was greeted by suave, dark Ambassador Rinaldo de Lima e Silva. After exchanging amenities, they sat down together at a table, squiggled their names to a document. When they got up and shook hands, the U. S. had contracted to trade Brazil...
What was proposed was that Germany buy on long-term credits a large quantity of the Federal Farm Board's 200,000,000 bu. of stabilized wheat and 1,300,000 bales of stabilized cotton. The Farm Board could thus unload some of its expensive holdings, U. S. commodity prices might be boosted, and the German Government would make some money. While Ambassador Sackett was diplomatically urging German officials to make an offer, President Hoover reviewed the "happy idea" with his cabinet. The Farm Board announced it was ready to sell to Germany on credit if the offer were...
...Berlin the ''happy idea" produced divergent opinions. Behind a high tariff ($1.30 per bu.) German farmers have this year produced an unusually large wheat crop (160,000,000 bu.). Germany needs to import only about 30,000,000 bu. to bring its supply up to domestic consumption. Most of its imported wheat comes from the Danube basin, Manitoba and Argentina. It was not likely that Germany could or would take any appreciable amount of wheat from the Farm Board. But of U. S. cotton on credit Germany could make great use; its textile industry was deeply depressed...
George and Henry Hitch of Guymon are Oklahoma's biggest wheat producers. This year they are harvesting 85,000 bu. from 4,500 acres, about the same as last year. Officials last week estimated that Oklahoma's acreage (3,750,000) in wheat will be reduced 30% next year because farmers cannot finance larger plantings...
...rival of Hickman Price in winter wheat acreage is James Jelinek who was waiting last week to harvest his 28,800-acre kingdom near Alliance, Neb. Mr. Jelinek uses 20 tractors, 14 combines, 12 trucks, 40 men. His harvest is 620,000 bu. He has his private elevator on the Burlington track...