CHAPTER XXII 



THE GRAIN TRADE 



International Nature of the Question. The grain trade of the 

 United States is not a national matter ; it is an international matter. 

 This is true for two reasons. The grain crop of foreign countries 

 affects the prices received by the American farmer. Likewise, 

 the crop of the United States affects the price received for grain 

 by the foreign grower. For instance, the year 1915 was known 

 as the bumper wheat crop year in the United States, the yield 

 jumping to the unheard of figure of over one billion bushels. It 

 was a season of prosperity for the American wheat grower. But 

 the international aspect of this question is apparent when we turn 

 to our competing neighbor in the South Argentina. Our Daily 

 Consular and Trade Reports of September 6, 1916, tell the follow- 

 ing brief and significant story: 



" Investigation of Grain Markets in Argentina." "The Argentine Gov- 

 ernment recently appointed a commission to make an investigation of grain 

 markets, with a view to protecting the interests of domestic growers and ship- 

 pers. The report of this commission, as quoted in a recent number of the 

 Revista Financiers y Comercicd, showed that the present low price of wheat in 

 Argentina is due chiefly to the extraordinarily large world production of wheat 

 in the 1915-16 crop year. North America alone is able to supply nearly all 

 the wheat needed in Europe, and the difference in freight does not permit 

 Argentina to compete advantageously in this trade. The present wheat 

 supply of Argentina is estimated at 1,500,000 tons, which is gradually being 

 marketed." 



This quotation illustrates the situation. A brief study of 

 statistics makes the question yet clearer. Note, for instance, the 

 world wheat crop when it is harvested, where it is harvested, 

 the quantity of it, the shortage in some sections and the surplus 

 in others, and the consequent exportation and importation move- 

 ments. Since both acreage and yield fluctuate widely from year 

 to year, a table of facts of the above kind must represent only 

 general average conditions. However, such a table is interesting 

 and is worth while. Consequently such a table is herewith pre- 

 sented, for the convenience of the reader. 



Wheat, as the following table shows, is being harvested some 

 place every month of the year. 



Among all agricultural crops of the United States,' corn is first 

 in value, as is suggested by the popular expression "Corn is King." 

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