Show DECLINE OF WHEAT NORMAl SAYS i BARNES I Gr Grain in Expert App Appears rs I Be- Be J forc rc Marketing Commit tee of Farm Bureau r CHICAGO Nov ov C. C G. Julius H. H Barnes former director general of oC he the United States Slates Grain corporation yesterday appeared appeared ap ap- ap- ap before the lie marketing committee of o seventeen of ol the American Farm 1 Jm Bu Bureau I Bu- rca reau federation offering opinion lon an and suggestions on the sUbject subject of t grain mar mar- marI II I and arid outlining major influences e on ln price fluctuations on trading e chang sl slIn I In his statement Mr Harnes' Harnes said aid that hat it was his firm conviction that the present lIes pres ent system of grain marketing open exchanges b by maintaining a highly I competitive market at all times lImOs worked to the tile advantage ad of ot bo producer and I consumer and that future trading was beneficial in that it furnished furnished- insurance I for traders against destructive losses loses on commitments which would of n necessity I be taken talen In wider margins of profits without exchange hedging I I WHEAT DECLINE I Touching upon recent declined III in wheat prices which sonic agricultural I Interests II terest a of the country have claimed are unwarranted unwarranted unwarranted unwar unwar- I ranted by the tile existing supply and demand de de- dc- dc deI I mand Mr 1 Barnes said that the wheat I producer had escaped e tile the full effect of I Ib eU lol J deflation f I because a of F t the cushion u found In fn future trading Ho Ito cited figures tendIng tending tend tend- ing to show that the decline In wheat tend tend-I from the post postwar war price to the tile current current current cur cur- rent level has been only 18 iS per cent as against a a. a.- decline of 68 per cent In lii potatoes po po-I po for which there is no exchange I I mal mam keto ket Similar comparisons reveal de dc declines dc- dc I dines clines of 5 53 per cent in cotton 47 per perCent percent note sP dc g t I Ithe cent in beans and 46 p per cent in barley rl the statement said Indications that the I I deflation is world wide In character and I i not confined to American farm products alone Mr 11 Barnes said was found in the I fact that imported farm commodities such as sugar and coffee fell off from rom 61 to 66 per cent during the same period COOP MARKETING In answer to a question as aa to whether It would be feasible for fOI producers to tomal mal ket their own crops Mr Barnes said saidI the present system maintained a lower I trade toll between producer and consumer con con- sumer than would be possible in an any s system sI s 's I tem tern which eliminated hedging and that In iii his lila opinion any organization of farmers farmers farm farm- ers for price fixing would not be decreed just by the American public First among constructive suggestions submitted by Mr Barnes was that ex exact exact ex- ex act and accurate on all I phases that affect marketing and price both national and w verified and I indorsed by an or organization organization- in whose jude ment the producer has baa confidence be given farmers to aid ald them in m determinIng determining ining thIng values The disorganization of European fi finances finances fl- fl nances Is to some degree responsible for the pr present Ii light ht export demand and this in turn is due to the Impossible atmosphere created for private business b by the world political situation Sir Mr Barnes declared I |