‘de, 
MARKETING GRAIN AT COUNTRY POINTS: 19 
~ 
When pressed for an explanation of these descrepancies, the market 
reporter of this paper stated that the wholesaler in question, when 
asked from time to time, had informed him over the telephone that 
no changes had occurred. In rebuttal, the wholesaler stated that the 
paper seldom inquired for price fluctuations and, when notified, 
failed to insert proper corrections. It is difficult to determine the 
precise responsibility in instances of this nature, but it undoubtedly 
is true that the publication of incorrect quotations is a source of 
- annoyance both to the dealer and to the farmer. Dealers in large 
cities and in country towns should insist that newspapers publish 
correct quotations, with a specific heading stating the conditions 
under which they are compiled and the date of compilation. 
FACTORS INFLUENCING PURCHASE PRICE. a 
After considering the information obtained from all sources, the 
buyer may decide to sell his grain for future delivery, although, as 
previously stated, this practice 1s not to be commended. Such sales, 
however, usually have no effect on the price paid to the producer for 
immediate delivery, for when the dealer is ready to buy grain to fill 
future contracts, competition usually compels him—when the price is 
higher—to pay its true worth at that time regardless of the price at 
which it was originally sold. If the market has declined, the dealer 
feels that the risk assumed entitles him to any additional profit he 
may obtain. 
When all grain offered is purchased at a flat rate, that is, when 
one price is paid for all grain of one variety available, the average 
gerade of the grain received must be determined, and this grade is 
taken into consideration when computing the selling price. 
After the dealer has ascertained to his own satisfaction the price 
he will be able to obtain for the grain, a sufficient amount must be 
deducted to cover the cost of operation of his plant, together with a 
fair margin of profit. There are also many other aspects that the 
dealer must consider in establishing prices. For example, the price 
paid by his competitors must be taken into account, and he must be 
aware at all times of the amount of storage space at his disposal and 
the ability of the railroads to furnish cars when desired. 
If, for any reason, the railroads are unable to provide cars as 
rapidly as needed, the shipper is confronted with the possibility 
of unfavorable market fluctuations. If shipment can not be effected, 
the resulting losses must be borne. However, it is usually possible 
either to sell futures as a hedge against such grain until the time 
when it can be moved, or to make a cash sale for shipment at a date 
far enough in advance to enable the dealer to obtain cars. Account 
must be taken of the condition and quality of the grain, proper con- 
