200 CORN 



Shrinkage of Old Corn. Tests at Illinois showed but .9 per cent 

 shrinkage in the second year of storage of ear corn. 



Will it pay to hold corn for May prices in view of shrinkage? 

 Figuring on the basis of the average price No. 2 (cash) corn at Chi- 

 cago for a period of years from 1873 to 1906 inclusive, the following 

 results are brought out : 



The highest average price in May for this period was 47.5 cents; 

 the lowest average 40.6 cents, or average of averages, 44.05 cents. 

 For December for the same period the figures are 46.2 cents highest, 

 40.4 cents lowest, 43.4 cents average. In December a bushel of 70 

 pounds would be worth, on this basis, 43.4 cents. By May, according 

 to the figures of the Iowa Station for 1904, which are representative, 

 that bushel would have shrunk 18.2 per cent, or 12.74 pounds, leav- 

 ing to be sold at that time 57.26 pounds. The May price is 44.05 cents 

 per bushel or .63 cents per pound. .63 cents per pound for 57.26 

 pounds would be 36.07 cents for the bushel, which could have been 

 sold in December for 43.4 cents. This would be a net loss of 7.33 cents 

 on the bushel. Figuring the same shrinkage on corn in December, 

 80 pounds per bushel, a loss of 2.14 cents per bushel would result. 



By taking a shorter, more recent period, it is found that the margin 

 is not very much in favor of May corn, not enough, in fact, to counter- 

 balance the shrinkage. The average price in December between 1903 

 and 1907 inclusive, was 50.3 cents per bushel at Chicago, that of May 

 for the same period was 51.9 cents. 



COLLATERAL READING 



Corn Harvesting Machinery, 



U. S. Department Bulletin No. 173. 



The Shrinkage of Ear Corn in Cribs, 

 Illinois Buletin No. 113. 



Moisture in Corn, 



Iowa (Press). 



Shrinkage of Corn, 



Farmers 'Bulletin No. 210. 



Shrinkage of Corn, 



U. S. Department Bulletin No. 317. 

 Kansas Bulletin No. 147. 



Bachelor Thesis of Morris and Cohagan, 

 Iowa State College, 1907. 



