Agricultural marketing revolving fund

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Monograph

Identifikator:: 1830514946

URN:: urn:nbn:de:zbw-retromon-221271

Document type:: Monograph

Title:: Agricultural marketing revolving fund

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1930

Scope:: II, 39 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Tuesday, december 16, 1930. Failure to organize cooperative associations of tobacco growers in kentucky

Collection:: Economics Books

TQ r, jj {1 103 €, Ss '$ i 1S h n 3, eo b> 0) ] = Oo oO 0 3 AGRICULTURAL MARKETING REVOLVING FUND 25 Mr. Ayres. Is anyone permitted to join the Farmers’ National Grain Corporation except a cooperative ? Mr. Lecae. The membership has not been extended to individual farmers. They are considering seriously, in some sections where the people are rather scattered and where the organization of a local cooperative is difficult, doing that at the present time. I think that is permissible under the act, if they wish to do so. Mr. Ayres. Just what service does the Stabilization Corporation perform? Mr. Leger. The service of trying to maintain, in the case of extreme depression or a surplus of the commodity, a stabilized price. Mr. Ayres. That is, they go on the market and purchase at times when the price is deemed to be too low? Mr. Leeee. That is the theory. De. Avres. And sell when it is deemed to be too high; is that the idea ? Mr. Lecce. Yes; but we have not had any trouble of that kind yet. I have here a memorandum from the Department of Agricul- ture which will give you some idea of the benefits derived from the stabilization operations. This is for the month of October, showing an average price at Winnipeg of 68 cents a bushel and an average price at Minneapolis of 83 cents a bushel, or a difference of 15 cents a bushel-average for the month of October on comparable grades of wheat. Our grading system 1s not the same as between Canada and here, but the market recognizes No. 3 Manitoba on the same sale basis as No. 1 Dakota, or our northern spring-wheat grade. and the spread for that month was 36 cents. On oats there was very little difference, the Winnipeg price being 33 cents and the Chicago price 36 cents. On barley, however, the Winnipeg price was 32 cents and the Minneapolis price was 54 cents, reflecting the full 20-cent tariff on barley as between the Canadian price and the domestic price. On rye, the Winnipeg price was 37 cents, and the Minneapolis price was 49 cents; on flaxseed, the Winnipeg price was $1.29, and the Minneapolis price was 80 cents. That was the average for the month, which might be taken as evidence that—— Mr. Dickinson (interposing). Have you anything on corn? Mr. Lrcee. No; the Canadian comparison does not give corn, but I can give you prices on corn using a comparison with the Argentine prices. The Argentine corn price for November averaged 35 cents a bushel at Buenos Aires. while here it averaged 71 cents a bushel in Chicago. The CHamrmay. That difference represents the amount of the tariff? Mr. LecGe. The tariff is 25 cents. I am sorry to say there are considerable quantities of corn coming in and paving the tariff at the present time. . The CHARMAN. You say there is a considerable amount of corn coming in from corn-producing countries? Mr. Leer. Yes; they unloaded 90,000 bushels from Cape Town. South Africa, last week, and paid the tariff on it. The Cuaramran. Then we did not put the tariff high enough.

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