Wheat Pools in Canada and the United States

September 24, 1928

Report Outline
The Canadian Wheat Pool Movement
Achievements of Canadian Wheat Pools
Wheat Pools in the United States

As the 1928 presidential campaign enters its final stage, agricultural relief tends to emerge as the “paramount” issue. Mr. Hoover in his address of acceptance, August 11, said the condition of the farmers presented “the most urgent economic problem of our nation today.” Governor Smith's first campaign speech in the Middle West, delivered at Omaha, September 18, was devoted wholly to the question of farm relief. In response to a question: “Do you believe that liquor is the great issue-in this campaign?” he said, “I certainly do not.”

Although the economic position of the farmers has improved materially since the severe depression of 1922–23 and the beginning of the McNary-Haugen movement, there still is wide-spread distress and dissatisfaction throughout the agricultural areas of the Middle West. For at least one important group of farmers - the wheat-growers - returns from, the 1928 crop do not promise increased prosperity, for wheat prices have ranged lower during the last thirty days than at any time in the last five years, and the farmers have sold, or are selling, the bulk of this year's wheat at these low prices.

Since June, when deliveries of the new crop began, wheat prices have fallen off sharply and during September have dropped below $1.10 a bushel1 at the Chicago market, as compared with average September prices of $1.35 to $1.40 during the years 1924 to 1927. Although this year's crop of 901,000,000 bushels is the largest since 1919, and the fourth largest in American history, it is probable that the growers will receive a smaller return for it than they got for the 872,000,000-bushel crop of 1927, or for the crops of the three preceding years. This prospect is principally responsible for the intensification of political interest during recent weeks in the farm relief issue.

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Sep. 24, 1928  Wheat Pools in Canada and the United States
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