Evening Republican, Volume 21, Number 197, Rensselaer, Jasper County, 5 September 1917 — Wagner Weekly Review. [ARTICLE]

Wagner Weekly Review.

The fixed $2.20 1917 wheat price suggests that corn at $1.05 to $1.15 and oats 50c to 55c are comparatively cheap. U. S. 1917 wheat crop guesses are raised to around 675,000,000. North American surplus may be 245,000,000. European grain news again suggests alarming scarcities in central and northern Europe in early 1918. Russian shortage also indicated. French news claims very little corn used in their bread mixtures. Argentina old grain ' raserves very light and not a factor. Embargo to neutrals only a slight food factor. War news suggests peace be delayed until 1918. Oats crop looks enormous at 1,600 millions, but 150 of this may go to substitute old corn, tac. Oats visible due to gain very slowly owing to car demand and exports and empty bins at home. Summer weather recalls 1863, 1866 and 1902 when much soft corn. Forty per cent of the west is afraid of soft corn. Crop promise is 3,200 to 3,350 million bushels. Soft corn feeds live stock but does not fatten. Record merchantable corn crop of 2,650,000,000 was raised in 1912. The 5 year average is about 2,200,000,000.

Assuming a heavy soft corn crop the danger in presuming on higher corn levels lies in the possible 10 p. c. reduction in U. S. hog and cattle feeding (due to marketing off) and the record silo crop. The crop for silo storage will be terrific and suggests reduced corn use. Also, the U. S. may raise 2,650 million merchantable corn despite the late crop. Nov. 1 record low corn reserves of 40 or 50 millions are indicated (10 year average 95,000,000 due to the very low 1913 and 1916 crop average sos only 2,150,000,000 merchantable corn each year. In comparison, a 1917 merchantable corn crop of 2,650,000,000 would be very large—would mean immense ease at terminals. . ( Soft com fears, though embracing a large per cent of the crop are thus secondary to the size of that portion of the crop that “makes.” The poundage of soft corn for feeding will also be a consideration. The “successful corn south” may . ship north but such quantities can be ignored. The size of the 1917 merchantable corn crop is the thing.