Business: Momentous Statistic

Estimated U. S. winter wheat crop for the current year: 337,485,000 bushels.

Such was the statistic which rolled last week from the glib mimeographs of the U. S. Crop Reporting Board. To men wise in the ways of wheat, the figure signified the probability of:

1) A winter wheat crop smaller than any since 1904, 40% smaller than the average of 1921-30.

2) A total U. S. wheat crop (allowing for 21,000,000 acres of newly planted spring wheat having the average yield of 12.75 bushels) of 605,000,000 bu. compared to 726,000,000 last year, to 900,000,000...

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