Crop Forecast

The crucial business development during early summer is the prospective value of American crops. The July forecast issued by the Department of Agriculture covering the wheat, corn, cotton, tobacco and other standard crops is encouraging. Despite the late winter, large crops are anticipated. The prospective value of the twelve principal American agricultural products, on the basis of farm prices on July 1, 1923, will be $7,829,912,800, as compared with $6,768,208,000 for the same crops in 1922. This gain of over a billion dollars in value this year is, however, conditioned by coming weather conditions, as well as the trend in cash prices for agricultural staples.

The cotton crop, owing chiefly to the great rise in price during the last year, is estimated at $1,493,400,-000--about a half-billion dollars better than the value of the 1922 crop. An even greater gain was registered by corn at $2,488,605,000 compared with $1,798,202,000 last year. Increased value was forecast for the current crop of corn, oats, barley, flaxseed, cotton; but wheat, rye, white and sweet potatoes, hay, peaches, apples showed a decrease. The 1923 wheat crop is estimated at $780,771,000 compared with $884,412,000--a loss of over $100,000,000. It is apparent that not all American farmers are going bankrupt, despite the alarming views of their situation taken by so many aspiring politicians just now.