GEOGRAPHY OF WHEAT PRICES. 
21 
been added to throw into relief the proportionate significance of these 
factors. It will be seen that areas of high price show minimum net 
returns, higher prices per bushel being offset either by high acreage 
costs or such relatively low yields to the acre as to make the per 
bushel cost high. Varying land rental or interest charges, as well as 
costs of commercial fertilizers, are also shown. 
In the South Atlantic States we see the highest price per bushel 
but lowest yields to the acre, hence highest proportionate cost per 
bushel, reducing returns per acre (see lower chart) to a point only 
slightly over costs. The New England and Middle Atlantic States, 
with high prices and high yields, show large returns per acre, offset 
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Fig. 4.— Wheat: Farm prices, yields, and costs of production, by geographic divisions. (For details, see 
Table III, p. 22.) 
by highest costs to the acre (in which high fertilizer and land-rental 
charges enter) . On the other hand, the Mountain and Pacific States, 
with low prices per bushel but high yields, show in the lower chart 
high returns per acre and lowest costs. 
Details follow in Table III. Relationships can best be seen in the 
percentages, basing the United States figure as 100 per cent. Thus 
we see in Montana, price per bushel is 85 per cent (compared with 
the United States as 100), but average yield is 167 per cent, and 
correlating the two in value per acre, 142 per cent; cost of production, 
excluding land rental or interest, 117 percent; finally, ratio of returns 
to cost 201 per cent. 
