8 



approximately 919,000,000 bushels, compared with 651,000,000 in 

 1917 and 636,000,000 in 1916. The corn crop, although considerably 

 less than that of last year, exceeds the five-year average, is above the 

 average in quality, and is greatly superior to that of 1917. It has 

 been estimated that, of the large crop of last year, approximately 

 900,000,000 bushels were soft. This, of course, was valuable as feed 

 for animals, but less so than corn of normal quality. It should be 

 remembered that on the average, only about 12 per cent of the corn 

 crop is annually consumed by human beings, and that not more than 

 26 per cent ever leaves the farm. Furthermore, the stocks of corn 

 on the farm on November 1 are considerably larger than those of 

 last year. 



The farmers also have been very active in the matter of live stock 

 production. They greatly increased the number of all classes of live 

 stock in 191 "7 and all indications point to the fact that there has been 

 a still further increase during the current year, although final figures 

 are not yet available. 



LARGE DEMAND FROM EUROPE. 



Undoubtedly the demand from Europe for available foodstuffs until 

 the next harvest season will be greater. England's food production 

 has increased during the war, but England still is, and will continue 

 to be, an importer of foodstuffs. France's production increased this 

 year over last year, but did not return to normal. She will need 

 unusually large supplies. Belgium, Poland, Holland, Norway, Switzer- 

 land and other countries whose production has been greatly disturbed, 

 or which normally import foodstuffs, will call upon us; and it seems 

 clear that contributions must be made, in no inconsiderable measure, 

 to the peoples of Austria and to some extent, of Germany. Even 

 our former enemies must be considered if for no higher motives than 

 those of enlightened selfishness. The world can not afford to have 

 a prevalence of chaos and riot in any part of it if it can be prevented. 

 Hungry people are dangerous, and reasonable sustenance is a pre- 

 requisite to the return of normal conditions and the securing of 

 democratic institutions. Unquestionably, there are considerable sup- 

 plies of foodstuffs in parts of Germany, in Southeastern Austria, and 

 in the Ukraine, but the conditions are disturbed and especially the 

 means of transportation. The problem in these countries primarily 

 is one of mobilizing supplies and of transporting and distributing them. 



DIFFICULT TO FORECAST SITUATION YEAR HENCE. 



The foreign demand will be for a great variety of foods and feed- 

 stuffs, but especially for certain kinds of fats. It is, therefore, highly 

 probable that prices for current supplies for the harvests of this 



